PEI Housing Starts in August

    CHARLOTTETOWN, Sept. 9 /CNW/ - Residential construction in urban centres
of the province increased in August. According to figures released today by
Canada Mortgage and Housing Corporation (CMHC), preliminary data indicates
that a total of 94 housing starts were recorded in August compared to 59
starts for the same period last year.
    "The rise in residential construction activity in August was the result
of an increased level of starts in the Charlottetown area", said Jason Beaton,
market analyst with CMHC in Prince Edward Island. A total of 43 single starts
were recorded in the province's urban centres in August compared to 41 units
last year. Multiple starts posted a larger increase with 51 units compared to
18 units in August of last year. On a year-to-date basis, total urban starts
in PEI have posted a significant gain with 376 units this year, up from 317
units in 2008. "PEI's urban housing market is experiencing another strong year
in 2009 and is now expected to post a similar level of activity as in 2008,"
continued Beaton.
    In urban centres across Canada, total housing starts in August declined
by 27 per cent, down to 12,187 units compared to last year's total of 16,807.
Single-detached starts decreased 26 per cent to 5,211 units, while multiple
unit starts were down 28 per cent from 9,744 units last year to 6,976 units
this year. In the Atlantic region, 835 new units were started in August 2009
compared to 879 units during the same period in 2008.
    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.
    For more information, visit or call 1-800-668-2642.

    (Ce document existe également en français)

                        PRINCE EDWARD ISLAND SUMMARY"
                            2009  2008              YEAR-TO-DATE
                            ----------  % Change    ------------   % Change
                             AUG   AUG               2009   2008
    Single                    43    36      19.4%     164    186      -11.8%
    Multiple                  51     6       (XX)     196     78        (XX)
    TOTAL                     94    42       (XX)     360    264       36.4%
    Single                     0     5       (XX)      16     29      -44.8%
    Multiple                   0    12       (XX)       0     24        (XX)
    TOTAL                      0    17       (XX)      16     53      -69.8%
    Single                    43    41       4.9%     180    215      -16.3%
    Multiple                  51    18       (XX)     196    102       92.2%
    TOTAL                     94    59      59.3%     376    317       18.6%
    (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: Jason Beaton, Market Analyst, Canada Mortgage
and Housing Corporation, (506) 851-6047,

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