Housing Starts Rise in February



    MONCTON, NB, March 10 /CNW/ - According to Canada Mortgage and Housing
Corporation's preliminary data(1), residential construction in February
produced a total of 63 starts in New Brunswick's urban centres, compared to
34 units during the same period last year.
    "Total urban starts in February exceeded last year's level due to
increased activity in Fredericton and Saint John", said Claude Gautreau,
CMHC's Senior Market Analyst for New Brunswick.
    A total of 51 single starts were recorded in urban areas in February,
almost double last year's total of 26 units for the month. In Fredericton,
single starts increased by 9 units to 15 units while Saint John experienced an
increase of 6 units for a total of 17 starts in February. In Moncton, the
increase in single starts was moderate with 11 units in February of this year
compared to 8 units during the same period in 2007. "Despite unfavourable
weather conditions during the first two months of the year, residential
construction activity has maintained a steady pace to date", continued
Gautreau.
    Twelve multiple starts were recorded in February of 2008 in the
province's urban centres, compared to 8 units in February 2007. Multiple
starts increased in Saint John and declined in Moncton. No multiple units were
started in Fredericton in February.
    In urban centres across Canada, total housing starts increased by
42 per cent in February, up to 13,436 from last year's total of 9,471.
Single-detached starts decreased 5 per cent to 4,203 units, while multiple
unit starts increased 84 per cent from 5,024 units last year to 9,233 units
this year. In the Atlantic region, 242 new units were started in February 2008
compared to 275 units during the same period in 2007.

    
    1. Figures for the most recent month are preliminary and subject to
       revisions due to corrections or updates from quarterly enumeration or
       sampling results.


    -------------------------------------------------------------------------
                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                           NEW BRUNSWICK SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                          2008   2007                YEAR-TO-DATE
                          -----------  % Change      ------------   % Change
                           FEB    FEB                2008    2007
    -------------------------------------------------------------------------
                 ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    SAINT JOHN CMA
    Single                  17     11      54.5%       47      22        (xx)
    Multiple                10      2       (xx)       68      20        (xx)
    TOTAL                   27     13       (xx)      115      42        (xx)
    -------------------------------------------------------------------------
    MONCTON CA
    Single                  11      8      37.5%       26      32      -18.8%
    Multiple                 2      6     -66.7%       37      60      -38.3%
    TOTAL                   13     14      -7.1%       63      92      -31.5%
    -------------------------------------------------------------------------
    FREDERICTON CA
    Single                  15      6       (xx)       40      26       53.8%
    Multiple                 0      0         -         4       2        (xx)
    TOTAL                   15      6       (xx)       44      28       57.1%
    -------------------------------------------------------------------------
                 ALL URBAN CENTRES WITH POPULATION (greater than)10,000(*)
    -------------------------------------------------------------------------
    ALL CENTRES
    Single                  51     26      96.2%      129      83       55.4%
    Multiple                12      8      50.0%      109      82       32.9%
    TOTAL                   63     34      85.3%      238     165       44.2%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Figures for the most recent month are preliminary and subject to
    revisions due to corrections or updates from quarterly enumeration or
    sampling results.

    (*)  Includes all centres with a total population of more than 10,000
         (Saint John CMA, Moncton CA, Fredericton CA, Bathurst CA,
         Campbellton CA, Edmundston CA, and Miramichi City).

    (xx) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.
    




For further information:

For further information: Claude Gautreau, Senior Market Analyst - New
Brunswick, Canada Mortgage and Housing Corporation, (506) 851-2742; For more
information, visit www.cmhc.ca or call 1-800-668-2642


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