New home construction increased in September



    CHARLOTTETOWN, Oct. 9 /CNW/ - Residential construction in urban centres
of the province increased in September. According to figures released today by
Canada Mortgage and Housing Corporation (CMHC), preliminary data indicates
that 52 housing starts were recorded in September compared to 14 starts for
the same period last year.
    "The increase in residential construction activity in September was the
result of an increased level of single and multiple starts", said Jason
Beaton, Market Analyst with CMHC in Prince Edward Island. A total of 42 single
starts were recorded in the province's urban centers in September compared to
10 units last year. Single family construction in Charlottetown, with
38 units, was up 10 units compared to last year. Meanwhile, 4 units were
reported in Summerside compared to zero units during the same month last year.
Multiple starts matched the level set last year with 4 units in September of
both years. On a year-to-date basis, total urban starts in PEI slowed to
339 units from 423 units during the same period in 2006. "PEI's housing market
is experiencing a strong year in 2007, however it is unlikely that it will
surpass the level set in 2006", continued Beaton.
    For urban centres of Canada, total housing starts in September increased
significantly when compared to 2006. Single starts declined from 8,612 units
to 8,226 units in September while multiple starts more than doubled last level
to reach 13,805 units. In Atlantic Canada, residential construction in urban
centres reached 1,029 units in September, a 40 per cent increase compared to
the same month a year ago.

    

    (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
                              PRINCE EDWARD ISLAND SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                          2007    2006               YEAR-TO-DATE
                          ------------   % Change    ------------   % Change
                           SEP     SEP               2007    2006
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single                  38      10        (xx)    213     209        1.9%
    Multiple                 8       4        (xx)     80     179      -55.3%
    TOTAL                   46      44        (xx)    293     388      -24.5%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single                   4       0          -      23      23        0.0%
    Multiple                 2       0          -      23      12       91.7%
    TOTAL                    6       0          -      46      35       31.4%
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                  42      10        (xx)    236     232       -1.7%
    Multiple                10       4        (xx)    103     191      -46.1%
    TOTAL                   52      14        (xx)    339     423      -19.9%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (xx) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.


    -------------------------------------------------------------------------
                      PRELIMINARY URBAN QUARTERLY HOUSING STARTS
                              PRINCE EDWARD ISLAND SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                          2007   2006                YEAR-TO-DATE
                         ------------    % Change    ------------   % Change
                            Q3     Q3                2007    2006
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single                 102     84        21.4%    213     209        1.9%
    Multiple                18     60       -70.0%     80     179      -55.3%
    TOTAL                  120    144       -16.7%    293     388      -24.5%
    -------------------------------------------------------------------------
    SUMMERSIDE CA                                                          -
    Single                  12      9        33.3%     23      23        0.0%
    Multiple                 6      0           -      23      12       91.7%
    TOTAL                   18      9         (xx)     46      35       31.4%
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                 114     93        22.6%    236     232        1.7%
    Multiple                24     60       -60.0%    103     191      -46.1%
    TOTAL                  138    153        -9.8%    339     423      -19.9%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (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: Jason Beaton, Market Analyst-Prince Edward
Island, Canada Mortgage and Housing Corporation, (506) 851-6047


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