Housing starts up year-to-date, but down slightly in June



    ST. JOHN'S, July 9 /CNW/ - Provincial urban housing starts were up during
the first half of this year, despite a slight decrease during the month of
June, according to preliminary data(1) released today by Canada Mortgage and
Housing Corporation (CMHC). June's total housing starts dipped seven per cent,
with 212 posted within the province compared to 228 a year ago. A total of
172 of the 212 starts were within St. John's metro versus 180 last June.
Year-to-date, there have been 738 new homes started across the province versus
last year's total of 623 homes, an increase of 18 per cent. A total of 628 of
these starts occurred within St. John's metro, for a year-to-date increase of
20 per cent.
    "The demand for newly built homes remains very high within the local
housing market and the solid increase in housing starts during the first half
of this year was driven by a low level of existing homes for sale," said Chris
Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador. "With a
buoyant economy and positive net-migration, tight market conditions are
expected to continue and strong demand for housing will drive prices higher
throughout the second half of 2008," added Janes.
    For Canada's urban centres, total housing starts were relatively flat
with 18,320 in June compared to 18,494 during June of 2007. Single-detached
starts fell 19 per cent to 7,878, while multiple starts of 10,442 represent a
19 per cent increase from a year ago. Throughout Atlantic Canada, there were
1,092 urban housing starts versus 1,085 the previous June.
    Canada Mortgage and Housing Corporation conducts a monthly survey of
housing construction in urban centres of Canada with a population of 50,000
and over.

    
    (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.)

    -------------------------------------------------------------------------
                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                       NEWFOUNDLAND & LABRADOR SUMMARY
    -------------------------------------------------------------------------
                      2008      2007    % Change     YEAR-TO-DATE   % Change
                      --------------                ---------------
                       JUN       JUN                2008       2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    ST. JOHN'S
     CMA
    Single             148       145       2.1%      509       397      28.2%
    Multiple            24        35     -31.4%      119       126      -5.6%
    TOTAL              172       180      -4.4%      628       523      20.1%
    -------------------------------------------------------------------------
                  ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    ALL
     CENTRES(*)
    Single             179       182      -1.6%      585       478      22.4%
    Multiple            33        46     -28.3%      153       145       5.5%
    TOTAL              212       228      -7.0%      738       623      18.5%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    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 (St.
        John's CMA, Corner Brook CA, Gander CA, Grand Falls/Windsor CA, Bay
        Roberts CA and Labrador City 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: Chris Janes, Senior Market Analyst - NL, (709)
772-2403; cjanes@cmhc.ca


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