Residential Construction in Nova Scotia Ends First Quarter of 2007 with Weakness in March



    HALIFAX, April 11 /CNW/ - A weak month of March in the residential
construction sector in Nova Scotia left total housing starts in the first
quarter of this year trailing last year's pace by nine per cent. According to
Canada Mortgage and Housing Corporation (CMHC) preliminary data(1) released
today for Nova Scotia's urban areas with a population over 10,000, there were
66 total housing starts last month compared with 201 in March 2006. Footings
were poured on 62 single-detached houses last month compared with 68 in March
2006 while only 4 multiple units began construction last month compared with
133 in the same month last year.
    "Apartment construction in Halifax boosted total provincial housing
starts results in the first two months of this year and it was the absence of
apartment construction in Halifax last month that was responsible for the weak
March results", said David McCulloch, Senior Market Analyst with CMHC's
Atlantic Business Centre. "Comparing the first quarter of this year with the
first quarter of last year, there were fewer total housing starts across all
urban areas of the province with the exception of New Glasgow", McCulloch
said. "Notwithstanding the fact that over 60 per cent of total housing starts
were in some form of multiple unit structure, 528 total housing starts across
the urban areas of the province reflects a very sturdy first quarter
production level", he added.
    In urban centres across Canada in March there were 12,581 total housing
starts, 17 per cent fewer than the 15,181 starts in March 2006. There were
5,537 single-detached housing starts across Canada last month, 11 per cent
fewer than the 6,219 single starts in March 2006 while the 7,044 multiple unit
housing starts across Canada last month represented a 21 per cent decline from
the 8,962 units started in March 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.

    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.

    (Ce document existe également en français.)

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

    -------------------------------------------------------------------------
                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                            NOVA SCOTIA SUMMARY
    -------------------------------------------------------------------------
                         2007     2006               YEAR-TO-DATE
                        -------------- % Change    -------------- % Change
                          MAR      MAR              2007     2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
    -------------------------------------------------------------------------
    HALIFAX CMA
    Single                 44       52    -15.4%     141      163    -13.5%
    Multiple                4      120    -96.7%     314      326     -3.7%
    TOTAL                  48      172    -72.1%     455      489     -7.0%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single                  7        7      0.0%      13       20    -35.0%
    Multiple                0        4      (xx)       2        6    -66.7%
    TOTAL                   7       11    -36.4%      15       26    -42.3%
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                 62       68     -8.8%     199      219     -9.1%
    Multiple                4      133    -97.0%     329      358     -8.1%
    TOTAL                  66      201    -67.2%     528      577     -8.5%
    -------------------------------------------------------------------------
    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
        (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.

    -------------------------------------------------------------------------
       PRELIMINARY URBAN QUARTERLY HOUSING STARTS NOVA SCOTIA SUMMARY
    -------------------------------------------------------------------------
                         2007     2006               YEAR-TO-DATE
                        -------------- % Change    -------------- % Change
                           Q1       Q1              2007     2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 10,000
    -------------------------------------------------------------------------
    HALIFAX CMA
    Single                141      163    -13.5%     141      163    -13.5%
    Multiple              314      326     -3.7%     314      326     -3.7%
    TOTAL                 455      489     -7.0%     455      489     -7.0%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single                 13       20    -35.0%      13       20    -35.0%
    Multiple                2        6    -66.7%       2        6    -66.7%
    TOTAL                  15       26    -42.3%      15       26    -42.3%
    -------------------------------------------------------------------------
    TRURO CA
    Single                 12       18    -33.3%      12       18    -33.3%
    Multiple                0        8      (xx)       0        8      (xx)
    TOTAL                  12       26    -53.8%      12       26    -53.8%
    -------------------------------------------------------------------------
    KENTVILLE CA
    Single                 12        5      (xx)      12        5      (xx)
    Multiple                6       18    -66.7%       6       18    -66.7%
    TOTAL                  18       23    -21.7%      18       23    -21.7%
    -------------------------------------------------------------------------
    NEW GLASGOW CA
    Single                 21       13     61.5%      21       13     61.5%
    Multiple                7        0        -        7        0        -
    TOTAL                  28       13      (xx)      28       13      (xx)
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                199      219     -9.1%     199      219     -9.1%
    Multiple              329      358     -8.1%     329      358     -8.1%
    TOTAL                 528      577     -8.5%     528      577     -8.5%
    -------------------------------------------------------------------------
    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
        (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.

    Data for 2006 on 2001 Census Definitions.
    Data for 2007 on 2006 Preliminary Census Definitions.
    




For further information:

For further information: David McCulloch, Senior Market Analyst - Nova
Scotia, Canada Mortgage and Housing Corporation, (902) 426-8465


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