August was Strong, But Overall Residential Construction Remains Weaker than 2006

    HALIFAX, Sept. 11 /CNW/ - Residential construction activity was strong in
the month of August but on a year-to-date basis remains weak relative 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, total housing starts last month were more than double
what they were in August 2006, yet were off 7.5 per cent for the January to
August timeframe. Total starts reached 399 and were up due to strength in
multiple starts which posted triple digit percentage gains. The 244 multiple
starts were the result of a number of large projects in the Halifax area.
    "Total starts remain below 2006 levels, but are advancing as expected in
the second half of the year," said Matthew Gilmore, Senior Market Analyst with
CMHC's Atlantic Business Centre. Gilmore also said, "In spite of the sharp
increases in the August 2007 figures, the combined number of multiple starts
in the summer months of July and August was almost unchanged this year
compared to last year." There were approximately 330 multiple starts in both
summers. "It is not uncommon to see monthly fluctuations due to project
timing," Gilmore added.
    In urban centres across Canada in August there were 16,771 total housing
starts, six per cent more than the 15,834 starts in August 2006. There were
8,103 single-detached housing starts across Canada last month, two per cent
less than the 8,298 single starts in August 2006. At 8,668 units, multiple
housing starts represented a 15 per cent increase from the 7,536 units started
in August 2006.

    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 or call 1 800 668-2642.

    (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)

                             NOVA SCOTIA SUMMARY
                          2007    2006               YEAR-TO-DATE
                          ------------   % Change    ------------   % Change
                           AUG     AUG               2007    2006
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    Single                 108      79       36.7%    707     714       -1.0%
    Multiple               208      21        (xx)    953     986       -3.3%
    TOTAL                  316     100        (xx)  1,660   1,700       -2.4%
    Single                  19       7        (xx)     64      90      -28.9%
    Multiple                30       0          -      54      35       54.3%
    TOTAL                   49       7        (xx)    118     125       -5.6%
           ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    ALL CENTRES((*))
    Single                 155     130       19.2%    982   1,038       -5.4%
    Multiple               244      67        (xx)  1,090   1,201       -9.2%
    TOTAL                  399     197        (xx)  2,072   2,239       -7.5%

    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

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