January Housing Starts in New Brunswick

MONCTON, NB, Feb. 8 /CNW/ - Residential construction in urban centres of the province increased in January, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicates that a total of 202 starts were recorded in January compared to 121 starts for the same period in 2009.

"Residential construction activity is off to a strong start in New Brunswick's three large urban centres, with a year-over-year increase in both single and multiple starts," said Claude Gautreau, CMHC's senior market analyst for New Brunswick. Single starts in provincial urban centres during the month of January were up 50 per cent to 66 units, with comparable increases in Fredericton, Moncton and Saint John.

Meanwhile, a total of 136 multiple starts were recorded in January compared to 77 units during the same month last year. The increase stemmed mainly from a rise in activity in Fredericton, where multiple starts went from 2 units in January of 2009 to 40 units this year. "Demand for rental units continues to bolster apartment starts in provincial urban centres, which contributed to the significant increase in multiple starts in January," continued Gautreau.

In urban centres across Canada, total housing starts recorded in January increased by 40 per cent, up to 10,218 compared to last year's total of 7,309. Single-detached starts increased to 4,723 units from 2,605 units, while multiple unit starts were up 17 per cent to 5,495 units this year. In the Atlantic region, 424 new units were started in January 2010 compared to 355 units during the same period in 2009.

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. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

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

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

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                            NEW BRUNSWICK SUMMARY
                           2010    2009              YEAR-TO-DATE
                          --------------  % Change  --------------  % Change
                            JAN     JAN              2010    2009
    Single                   21      14       50.0%    21      14       50.0%
    Multiple                 65      53       22.6%    65      53       22.6%
    TOTAL                    86      67       28.4%    86      67       28.4%
    Single                   15      10       50.0%    15      10       50.0%
    Multiple                 31      22       40.9%    31      22       40.9%
    TOTAL                    46      32       43.8%    46      32       43.8%
    Single                   22      16       37.5%    22      16       37.5%
    Multiple                 40       2        (XX)    40       2        (XX)
    TOTAL                    62      18        (XX)    62      18        (XX)
    Single                   66      44       50.0%    66      44       50.0%
    Multiple                136      77       76.6%   136      77       76.6%
    TOTAL                   202     121       66.9%   202     121       66.9%

    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
         (Saint John CMA, Moncton CMA, Fredericton CA, Bathurst CA,
         Campbellton CA, Edmundston CA, and Miramichi City).
    (XX) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.

SOURCE Canada Mortgage and Housing Corporation

For further information: For further information: Claude Gautreau, CMHC Market Analysis Centre, (506) 851-2742, Cell: (506) 866-9002, cgautrea@cmhc.ca

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