Single-Detached Starts Up in Nova Scotia



    HALIFAX, Dec. 10 /CNW/ - For the third month in a row, single-detached
starts were up (on a year-to-date basis) in urban centres across Nova Scotia
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, total housing starts last month fell by more than 42 per cent compared
to November 2006. Total starts dropped to 231 in November with 170
single-detached starts and 61 multiple starts.
    On a year-to-date basis, total starts were down slightly by 1.6 per cent
at 3,098 for Nova Scotia's urban areas. Single-detached starts climbed 7.8 per
cent and multiples starts fell 9.4 per cent over the January to November 2007
period compared to last year.
    "Existing home sales continue to reach record levels and this ongoing
demand for housing has been contributing to higher levels of new
single-detached home starts for the past few months," said Matthew Gilmore,
Senior Market Analyst with CMHC's Atlantic Business Centre. "Also, the slight
shift in the market that has resulted in a decrease in multiples starts is due
in part to current high levels of apartment construction," Gilmore said.
"Projects are being delayed due to high demand and competition for skilled
labour, but with so many units already under construction, not as many new
projects are breaking ground," added Gilmore.
    In urban centres across Canada in November there were 17,077 total
housing starts, five per cent less than the 17,998 starts in November 2006.
There were 8,065 single-detached housing starts across Canada last month,
eight per cent more than the 7,486 single starts in November 2006. At
9,012 units, multiple housing starts represented a 14 per cent decrease from
the 10,512 units started in November 2006. On a year-to-date basis, total
starts were flat at 181,191 starts through November compared to last year.

    
    (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
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                      2007      2006                  YEAR-TO-DATE
                    ----------------- % Change     ---------------  % Change
                       NOV       NOV                2007      2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    HALIFAX CMA
    Single             125        92      35.9%    1,051       964       9.0%
    Multiple            53       218     -75.7%    1,264     1,366      -7.5%
    TOTAL              178       310     -42.6%    2,315     2,330      -0.6%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single              21         4       (xx)      128       102      25.5%
    Multiple             6         8     -25.0%       66        57      15.8%
    TOTAL               27        12       (xx)      194       159      22.0%
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single             170       127      33.9%    1,509     1,400       7.8%
    Multiple            61       272     -77.6%    1,538     1,698      -9.4%
    TOTAL              231       399     -42.1%    3,047     3,098      -1.6%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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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