Residential Construction in Nova Scotia Remains Buoyant in February Courtesy of Multiple Unit Housing Starts



    HALIFAX, March 8 /CNW/ - Multiple unit housing starts continue to keep
the residential construction sector in Nova Scotia buoyant. 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
147 total housing starts last month compared with 111 in February 2006.
Footings were poured on 26 single-detached houses last month, well below the
50 single-detached units that started construction in February of last year.
In contrast, the 121 multiple unit dwellings started last month was nearly
double the February 2006's production of 61 units.
    "Relatively tame winter weather has certainly been supportive of
construction activity across the province but the strength of the February
results really reflect the ongoing shift to higher density development as
developers try to manage rising costs through economies of scale", said David
McCulloch, Senior Market Analyst with CMHC's Atlantic Business Centre. "As a
result, new apartment projects typically have considerably more units than was
the case just a few years ago while semi-detached and townhouse units are now
being built in locations where single-detached homes may have been offered a
few years ago", McCulloch said.
    In urban centres across Canada in February there were 9,436 total housing
starts, 24 per cent fewer than 12,450 starts in February 2006. There were
4,389 single-detached housing starts across Canada last month, well short of
the 5,956 single starts in February 2006. The 5,047 multiple unit housing
starts across Canada last month were 22 per cent fewer than the 6,494 units
that started construction in February 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.

    (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.

    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
                            FEB      FEB              2007     2006
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION (greater than) 50,000
    -------------------------------------------------------------------------
    HALIFAX CMA
    Single                   26       50    -48.0%      97      111    -12.6%
    Multiple                121       61     98.4%     310      206     50.5%
    TOTAL                   147      111     32.4%     407      317     28.4%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single                    2        6    -66.7%       6       13    -53.8%
    Multiple                  2        2      0.0%       2        2      0.0%
    TOTAL                     4        8    -50.0%       8       15    -46.7%
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                   39       70    -44.3%     126      152    -17.1%
    Multiple                124       66     87.9%     313      225     39.1%
    TOTAL                   163      136     19.9%     439      377     16.4%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    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.
    




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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