Residential Construction Activity Weakens in August



    HALIFAX, Sept. 9 /CNW/ - Residential construction activity in Nova Scotia
slowed last month as both single and multiple starts were down compared to a
year ago. 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, there were 192 total housing starts last month,
compared with 433 in August 2007, a decrease of 56 per cent. At 145 units,
single-detached starts were off by 12 per cent compared to August of last
year. Multiple starts declined sharply with only 47 units starting in August
2008 compared to 268 a year ago.
    "Single starts in Nova Scotia are beginning to show signs of easing after
a strong start to the year," said Charlie Aucoin, Market Analyst with CMHC's
Atlantic Business Centre. "While single detached starts are still up by 13 per
cent on a year-to-date basis in the Halifax area, they were down in each of
the last three months. At the provincial level, single starts were down in
each of the last two months but remain 24 per cent higher than 2007 levels",
added Aucoin.
    In urban centres across Canada in August there were 15,871 total housing
starts, eight per cent fewer than the 17,201 starts in August 2007. There were
6,406 single-detached housing starts across Canada last month, 25 per cent
less than the 8,526 single starts in August 2007. At 9,465 units, multiple
housing starts represented a nine per cent increase from the 8,675 units
started in August 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.
    

    (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.


    
    -------------------------------------------------------------------------
                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                             NOVA SCOTIA SUMMARY
    -------------------------------------------------------------------------
                    2008     2007               YEAR-TO-DATE
                  ---------------- % Change  -----------------    % Change
                     AUG      AUG               2008     2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
    -------------------------------------------------------------------------
    HALIFAX CMA
    Single           100      108     -7.4%      797      707        12.7%
    Multiple          23      208    -88.9%      645      953       -32.3%
    TOTAL            123      316    -61.1%    1,442    1,660       -13.1%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single            19       19      0.0%      108       64        68.8%
    Multiple          16       30    -46.7%       53       54        -1.9%
    TOTAL             35       49    -28.6%      161      118        36.4%
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single           145      165    -12.1%    1,241    1,003        23.7%
    Multiple          47      268    -82.5%      842    1,120       -24.8%
    TOTAL            192      433    -55.7%    2,083    2,123        -1.9%
    -------------------------------------------------------------------------
    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, Chester MD CA, East Hants MD CA, Kings Subd. A SC CA,
         Lunenburg MD CA, Queens RGM CA, West Hants MD CA, Yarmouth MD 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: visit www.cmhc.ca or call 1-800-668-2642;
Charlie Aucoin, Market Analyst, Canada Mortgage and Housing Corporation, (902)
426-8465


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