Housing Starts Up In October



    HALIFAX, Nov. 8 /CNW/ - For the third month in a row, residential
construction activity in urban centres across Nova Scotia recorded very strong
growth. Both single and multiple starts were up sharply last month compared to
October 2006 and on a year-to-date basis, total starts continued to climb
higher above 2006 levels. According to Canada Mortgage and Housing
Corporation's (CMHC) preliminary data(1) released today for Nova Scotia's
urban areas with a population over 10,000, total housing starts last month
were up by more than 43 per cent compared to October 2006. They also are up by
just over 4 per cent for the January to October timeframe. Total starts
reached 309 due to strength in both single-detached and multiple starts which
saw increases of 45.5 and 42.1 per cent respectively.
    "We have seen impressive growth in housing starts over the past few
months in Metro," said Matthew Gilmore, Senior Market Analyst with CMHC's
Atlantic Business Centre. "Strong employment figures, rising wages and
stronger consumer confidence have been contributing to record levels of
existing home sales almost all year. It is not surprising to see the results
in the existing homes market begin to spill over into the new homes market,"
added Gilmore.
    In urban centres across Canada in October there were 16,057 total housing
starts, nine per cent less than the 17,595 starts in October 2006. There were
7,370 single-detached housing starts across Canada last month, ten per cent
less than the 8,220 single starts in October 2006. At 8,687 units, multiple
housing starts represented a seven per cent decrease from the 9,375 units
started in October 2006.

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

    (Ce document existe également en français.)

    Canada Mortgage and Housing Corporation (CMHC) has been Canada's national
housing agency for more than 60 years. CMHC is committed to helping Canadians
access a wide choice of quality, affordable homes, while making vibrant,
healthy communities and cities a reality across the country.

    -------------------------------------------------------------------------
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                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                             NOVA SCOTIA SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                        2007     2006               YEAR-TO-DATE
                      ----------------  % Change  ----------------  % Change
                         OCT      OCT               2007     2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    HALIFAX CMA
    Single                95       66       43.9%    926      872        6.2%
    Multiple             115       93       23.7%  1,211    1,148        5.5%
    TOTAL                210      159       32.1%  2,137    2,020        5.8%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single                18        5        (xx)    107       98        9.2%
    Multiple               2        6      -66.7%     60       49       22.4%
    TOTAL                 20       11       81.8%    167      147       13.6%
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single               147      101       45.5%  1,339    1,273        5.2%
    Multiple             162      114       42.1%  1,477    1,426        3.6%
    TOTAL                309      215       43.7%  2,816    2,699        4.3%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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
         (Halifax CMA, Cape Breton RGM, Truro CA, Kentville CA and New
         Glasgow CA).

    (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: Matthew Gilmore, Senior Market Analyst, Canada
Mortgage and Housing Corporation, (902) 426-4686; For more information, visit
www.cmhc.ca or call 1-800-668-2642.


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