Residential Activity Stable in July



    CHARLOTTETOWN, Aug. 9 /CNW/ - Total urban housing starts for PEI in July
were the same as last year. According to figures released today by Canada
Mortgage and Housing Corporation (CMHC), preliminary data(1) indicates that a
total of 47 starts were reported in July of 2007 and 2006.
    Residential construction activity on Prince Edward Island during the
month of July was centered mostly in the Charlottetown area. "Single starts in
Charlottetown recorded 39 units in July, up from 34 during the same month last
year, while no multiple starts were recorded this year", said Jason Beaton,
Market Analyst with CMHC. In Summerside, there were 6 single starts in July of
2007, up from 3 units during the same period last year.
    On a year-to-date basis, total housing starts in Charlottetown reached
212 units and are behind last year's pace of 288 units. A total of 36 starts
have been recorded in Summerside during the first seven months of 2006, up
from 29 units last year. "Year-to-date urban housing starts have remained
strong in historical terms, and are expected to recede only slightly from the
2006 level by year's end." continued Beaton.
    In urban centres across Canada, total housing starts in July trailed last
year's total by 12 per cent, down to 16,921 from last year's total of 19,298.
Single-detached starts declined to 8,919 units compared to 9,188 in 2006,
while multiple unit starts declined 21 per cent from 10,110 units last year to
8,002 units this year. In the Atlantic region, 892 starts were recorded in
July 2007 compared to 1,010 units during the same period in 2006.

    
    (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
                          PRINCE EDWARD ISLAND SUMMARY
    -------------------------------------------------------------------------
                          2007    2006               YEAR-TO-DATE
                          ------------    % Change   ------------    % Change
                           JUL     JUL               2007    2006
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single                  39      34       14.7%    150     159       -5.7%
    Multiple                 0      10        (xx)     62     129      -51.9%
    TOTAL                   39      44      -11.4%    212     288      -26.4%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single                   6       3        (xx)     17      17        0.0%
    Multiple                 2       0          -      19      12       58.3%
    TOTAL                    8       3        (xx)     36      29       24.1%
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                  45      37       21.6%    167     176       -5.1%
    Multiple                 2      10      -80.0%     81     141      -42.6%
    TOTAL                   47      47        0.0%    248     317      -21.8%
    -------------------------------------------------------------------------

    (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, Prince Edward
Island, Canada Mortgage and Housing Corporation, (506) 851-6047


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