Housing Starts Rise in May



    MONCTON, June 9 /CNW/ - According to Canada Mortgage and Housing
Corporation's preliminary data(1), residential construction in May of 2008
produced a total of 473 starts in New Brunswick's urban centres, up from
333 units during the same period last year.
    "Even though harsh weather during the winter months likely delayed the
start of some projects, increased activity in the spring as allowed both
single and multiple starts to outpace last year's totals after a strong
performance during the month May," said Claude Gautreau, CMHC's Senior Market
Analyst for New Brunswick.
    In the province's urban centres, 250 multiple starts were recorded in
May, up from 147 units during the same month last year. After a soft start in
Moncton and Fredericton, multiple starts in both centres rebounded in May,
pushing year-to-date starts ahead of last year's total during the same period.
After the first five months of the year, multiple starts in Saint John trailed
last year's total by 4 units with 138 starts. "The surge in multiple starts
during the month of May can be traced to a significant increase in apartment
starts in both Fredericton and Moncton, combined with an increase in
semi-detached starts in Moncton," continued Gautreau.
    Single starts in urban areas were up 37 units in May for a total of
223 starts, exceeding last year's total of 186 starts for the month.
Year-to-date, single starts in the province's urban areas were ahead of last
year's pace by 100 units with a total of 476 starts.
    In urban centres across Canada, total housing starts in May were down
5 per cent to 18,371 units compared to last year's monthly total of 19,374.
Single-detached starts were down 15 per cent to 7,963 units, while multiple
starts were up 4 per cent in May to 10,408 units compared to 10,055 units
during the same period last year. In the Atlantic region, 590 new units were
started in May compared to 468 units in May 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
                              MAY     MAY             2008    2007
    -------------------------------------------------------------------------
                  ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    SAINT JOHN CMA
    Single                     57      46     23.9%    164     104     57.7%
    Multiple                   20      30    -33.3%    138     142     -2.8%
    TOTAL                      77      76      1.3%    302     246     22.8%
    -------------------------------------------------------------------------
    MONCTON CMA
    Single                     96      70     37.1%    155     143      8.4%
    Multiple                  164     111     47.7%    247     226      9.3%
    TOTAL                     260     181     43.6%    402     369      8.9%
    -------------------------------------------------------------------------
    FREDERICTON CA
    Single                     47      50     -6.0%    117      96     21.9%
    Multiple                   66       4      (xx)     72       6      (xx)
    TOTAL                     113      54      (xx)    189     102      5.3%
    -------------------------------------------------------------------------
                 ALL URBAN CENTRES WITH POPULATION (greater than)10,000(*)
    -------------------------------------------------------------------------
    ALL CENTRES
    Single                    223     186     19.9%    476     376     26.6%
    Multiple                  250     147     70.1%    480     378     27.0%
    TOTAL                     473     333     42.0%    956     754     26.8%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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, Acting 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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