Total Housing Starts Virtually Unchanged in Nova Scotia in 2008



    HALIFAX, Jan. 9 /CNW/ - Total new residential construction ended the year
2008 virtually unchanged in Nova Scotia's urban centres compared to last year.
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 3,327 total housing starts in 2008, compared with 3,320 in
2007. Over the year, single starts were up 21 per cent, but were offset by a
decline in multiple starts of 22 per cent.
    In the fourth quarter of 2008, total starts fell 41 per cent from 1,215
to 719. Compared to last year, single starts fell 45 per cent, while multiple
starts fell 28 per cent in the fourth quarter in Nova Scotia's urban centres.
    "In Halifax, single starts were up 12 per cent after three quarters,
however, as expected, the fourth quarter saw single starts decline 34 per cent
bringing the annual figures down two per cent compared to last year," said
Matthew Gilmore, Senior Market Analyst with CMHC's Atlantic Business Centre.
    Multiple starts trended down throughout the year and finished 2008 down
28.5 per cent in Halifax. "Given high levels of competition for labour and a
less certain economic environment, various apartment style projects were
delayed in 2008," Gilmore said.
    In urban centres across Canada in 2008 there were 187,363 total housing
starts, three per cent fewer than the 193,744 starts in 2007. There were
74,433 single-detached housing starts across Canada last year, 18 per cent
less than the 90,854 single starts in 2007. At 112,930 units, multiple housing
starts represented a 10 per cent increase from the 102,890 units started in
2007.
    As Canada's national housing agency, CMHC draws on more than 60 years of
experience to help Canadians access a variety of quality, environmentally
sustainable, and affordable homes - homes that will continue to create vibrant
and healthy communities and cities across the country.

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

    (Ce document existe également en français)

    
    ------------------------
    (1) Figures for the most recent month are preliminary and subject to
        revisions due to corrections or updates from quarterly enumeration or
        sampling results.


    -------------------------------------------------------------------------
                  "PRELIMINARY URBAN MONTHLY HOUSING STARTS
                             NOVA SCOTIA SUMMARY"
    -------------------------------------------------------------------------
                            2008    2007              YEAR-TO-DATE
                            ------------  % Change    ------------  % Change
                             DEC     DEC              2008    2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
    -------------------------------------------------------------------------
    HALIFAX CMA
    Single                    65     156     -58.3%  1,180   1,207     -2.2%
    Multiple                  44      18     144.4%    916   1,282    -28.5%
    TOTAL                    109     174     -37.4%  2,096   2,489    -15.8%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single                    13      24     -45.8%    156     152      2.6%
    Multiple                   5       6     -16.7%     76      72      5.6%
    TOTAL                     18      30     -40.0%    232     224      3.6%
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
    -------------------------------------------------------------------------
    ALL CENTRES(X)
    Single                   121     207     -41.5%  2,088   1,730     20.7%
    Multiple                  61      30     103.3%  1,239   1,590    -22.1%
    TOTAL                    182     237     -23.2%  3,327   3,320      0.2%
    -------------------------------------------------------------------------
    Figures for the most recent month are preliminary and subject to
    revisions due to corrections or updates from quarterly enumeration or
    sampling results.

    (X)  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.



    -------------------------------------------------------------------------
                 "PRELIMINARY URBAN QUARTERLY HOUSING STARTS
                             NOVA SCOTIA SUMMARY"
    -------------------------------------------------------------------------
                            2008    2007              YEAR-TO-DATE
                            ------------  % Change    ------------  % Change
                              Q4      Q4              2008    2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 10,000
    -------------------------------------------------------------------------
    HALIFAX CMA
    Single                   250     376     -33.5%  1,180   1,207      -2.2%
    Multiple                 155     186     -16.7%    916   1,282     -28.5%
    TOTAL                    405     562     -27.9%  2,096   2,489     -15.8%
    -------------------------------------------------------------------------
    CAPE BRETON RGM
    Single                    41      63     -34.9%    156     152       2.6%
    Multiple                  17      14      21.4%     76      72       5.6%
    TOTAL                     58      77     -24.7%    232     224       3.6%
    -------------------------------------------------------------------------
    TRURO CA
    Single                    48      48       0.0%    164     159       3.1%
    Multiple                  15      47     -68.1%     54      90     -40.0%
    TOTAL                     63      95     -33.7%    218     249     -12.4%
    -------------------------------------------------------------------------
    KENTVILLE CA
    Single                    22      17      29.4%     74      84     -11.9%
    Multiple                  22      24      -8.3%     42     105     -60.0%
    TOTAL                     44      41       7.3%    116     189     -38.6%
    -------------------------------------------------------------------------
    NEW GLASGOW CA
    Single                    20      34     -41.2%     92     128     -28.1%
    Multiple                   4       4       0.0%     39      41      -4.9%
    TOTAL                     24      38     -36.8%    131     169     -22.5%
    -------------------------------------------------------------------------
    ALL CENTRES(X)
    Single                   486     890     -45.4%  2,088   1,730      20.7%
    Multiple                 233     325     -28.3%  1,239   1,590     -22.1%
    TOTAL                    719   1,215     -40.8%  3,327   3,320       0.2%
    -------------------------------------------------------------------------
    Figures for the most recent month are preliminary and subject to
    revisions due to corrections or updates from quarterly enumeration or
    sampling results.

    (X)  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: Matthew Gilmore, Senior Market Analyst, Canada
Mortgage and Housing Corporation, (902) 426-4686, mgilmore@cmhc-schl.gc.ca


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