PEI Housing Starts in September

CHARLOTTETOWN, Oct. 8 /CNW/ - Residential construction in urban centres of Prince Edward Island increased in September compared to the same month last year. According to figures released today by Canada Mortgage and Housing Corporation (CMHC), preliminary data(1) indicates that 75 housing starts were recorded in September compared to 31 starts during the same period last year.

"The rise in residential construction activity in September was the result of an increased level of multiple starts in the Charlottetown area", said Jason Beaton, market analyst with CMHC in Prince Edward Island. A total of 25 single starts were recorded in the province's urban centres in September compared to 27 units last year. Multiple starts exceeded the level set last year with 50 units in September compared to 4 units in 2008. All of the multiple units recorded in September were located in the Charlottetown area.

On a year-to-date basis, total urban starts in PEI rose to 451 units from 348 units during the same period in 2008. The higher level of starts recorded in 2009 has been the result of increased apartment and row construction in the Charlottetown area. "Total urban construction in PEI is expected to exceed the level recorded in 2008, due to the strength of multiple starts in the capital region", continued Beaton.

In urban centres across Canada, total housing starts in September declined by 26 per cent, down to 13,024 units compared to last year's total of 17,661. Single-detached starts were up 7 per cent to 6,741 units, while multiple unit starts were down 45 per cent from 11,352 units last year to 6,283 units this year. In the Atlantic region, 970 new units were started in September 2009 compared to 1,030 units during the same period in 2008.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

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

    For more information, visit www.cmhc.ca or call 1-800-668-2642.

    (Ce document existe également en français)

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                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                        PRINCE EDWARD ISLAND SUMMARY
    -------------------------------------------------------------------------
                           2009    2008              YEAR-TO-DATE
                           ------------   % Change   ------------   % Change
                            SEP     SEP              2009    2008
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single                   25      25       0.0%    189     213     -11.3%
    Multiple                 50       4       (XX)    246      80       (XX)
    TOTAL                    75      29       (XX)    435     293      48.5%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single                    0       2       (XX)     16      31     -48.4%
    Multiple                  0       0         -       0      24       (XX)
    TOTAL                     0       2       (XX)     16      55     -70.9%
    -------------------------------------------------------------------------
    ALL CENTRES
    Single                   25      27      -7.4%    205     244     -16.0%
    Multiple                 50       4       (XX)    246     104       (XX)
    TOTAL                    75      31       (XX)    451     348      29.6%
    -------------------------------------------------------------------------
    Figures for the most recent month are preliminary and subject to
    revisions due to corrections or updates from quarterly enumeration or
    sampling results.

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

SOURCE Canada Mortgage and Housing Corporation

For further information: For further information: Jason Beaton, Market Analyst, Canada Mortgage and Housing Corporation, (506) 851-6047, jbeaton@cmhc-schl.gc.ca


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