Residential Construction Off to a Slow Start in Halifax in 2008



    HALIFAX, Feb. 8 /CNW/ - It a was slow start to the year for the
residential construction industry in Nova Scotia as single and multiple unit
housing starts were both down considerably compared to last year. 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
100 total housing starts last month compared with 293 in January 2007. There
were 72 single-detached housing starts last month compared with 96 in January
of last year while the 28 multiple unit starts was 86 per cent lower than the
197 starts in January 2007.
    "A lack of apartment-style starts and a low number of single-detached
starts made for a very weak showing last month in terms of new residential
construction projects, said Matthew Gilmore, Senior Market Analyst with CMHC's
Atlantic Business Centre. "No doubt weather played a role in the January
decline, but a high level of units that remain under construction from 2007
also may have kept new projects from breaking ground," Gilmore added.
    In urban centres across Canada in January there were 12,023 total housing
starts, 11 per cent fewer than the 13,583 housing starts in January 2007.
There were 4,402 single- detached housing starts last month which represented
a 16 per cent decline from the 5,222 single starts in January 2007. Multiple
unit housing starts were 9 per cent less last month than in January 2007,
decreasing to 7,621 from 8,361.

    
    (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.

    -------------------------------------------------------------------------
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                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                             NOVA SCOTIA SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                     2008      2007                  YEAR-TO-DATE
                     --------------   % Change     --------------   % Change
                      JAN       JAN                2008      2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    ------------------------------------------------------------------------
    HALIFAX CMA
    Single             56        71     -21.1%       56        71     -21.1%
    Multiple           22       189     -88.4%       22       189     -88.4%
    TOTAL              78       260     -70.0%       78       260     -70.0%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single              6         7     -14.3%        6         7     -14.3%
    Multiple            4         0         -         4         0         -
    TOTAL              10         7      42.9%       10         7      42.9%
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than)10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single             72        96     -25.0%       72        96     -25.0%
    Multiple           28       197     -85.8%       28       197     -85.8%
    TOTAL             100       293     -65.9%      100       293     -65.9%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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).
    (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: Matthew Gilmore, Senior Market Analyst, Canada
Mortgage and Housing Corporation, (902) 426-4686; For more information, visit
www.cmhc.ca or call 1 800 668-2642.


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