Urban Housing Starts Soar in November



    ST. JOHN'S, Dec. 10 /CNW/ - Urban housing starts soared in November,
according to preliminary data(1) released today by Canada Mortgage and Housing
Corporation (CMHC). November's total housing starts soared 33 per cent, with
189 posted across provincial urban centres versus 142 a year ago. Of the
189 starts, 177 occurred within the St. John's metro area compared to 121 last
November, an increase of 46 per cent. To date, provincial urban housing starts
total 1,631, up 18 per cent over the first eleven months of 2006.
    "November's total urban housing starts mark six consecutive months of
sustained growth in residential construction compared to the same period last
year," said Chris Janes, Senior Market Analyst with CMHC in Newfoundland and
Labrador. "Solid demographic and economic fundamentals paired with high
consumer confidence, continued to drive the demand for newly built homes
during the month," added Janes.
    For Canada's urban centres, total housing starts fell five per cent to
17,077 in November over November of 2006. Single-detached starts climbed
eight per cent to 8,065, while multiple starts of 9,012 represent a
14 per cent decline compared to last year. Throughout Atlantic Canada, there
were 738 urban housing starts, a ten per cent drop over the previous November.

    Canada Mortgage and Housing Corporation conducts a monthly survey of
housing construction in urban centres of Canada with a population of 50,000
and over.

    
    -----------------------
    (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.)


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                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                       NEWFOUNDLAND & LABRADOR SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                         2007    2006                YEAR-TO-DATE
                        --------------  % Change   ---------------  % Change
                          NOV     NOV                2007    2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    ST. JOHN'S CMA
    Single                133      86       54.7%   1,056     906       16.6%
    Multiple               44      35       25.7%     294     274        7.3%
    TOTAL                 177     121       46.3%   1,350   1,180       14.4%
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                143     103       38.8%   1,283   1,075       19.3%
    Multiple               46      39       17.9%     348     307       13.4%
    TOTAL                 189     142       33.1%   1,631   1,382       18.0%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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
         (St. John's CMA, Corner Brook CA, Gander CA, Grand Falls/Windsor CA,
         Bay Roberts CA and Labrador City 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: Chris Janes, Senior Market Analyst - NL, Canada
Mortgage and Housing Corporation, (709) 772-2403, cjanes@cmhc.ca


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