Single Starts Boost Construction in First Half of 2008

    HALIFAX, July 9 /CNW/ - While overall residential construction in Nova
Scotia slowed in June, single-detached construction activity remains elevated
in most parts of the province compared 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, there were 381
total housing starts last month compared with 429 in June 2007 - an 11 per
cent decrease. Single-detached housing starts increased to 227 last month
compared to 215, while multi-residential starts fell to 154 in June 2008 - a
decrease of 28 per cent over June 2007.
    "Overall starts appear elevated compared to last year due to the fact
there was seven new urban centres added to our new home starts survey this
year. Because of this, overall starts for urban centres in the province are up
by nine per cent over last year." said Charlie Aucoin, Market Analyst with
CMHC's Atlantic Business Centre. "However, if these starts are excluded for
the purposes of drawing a more accurate comparison to last year, then overall
starts in urban centres are actually down by eight per cent", Aucoin said.
"The decrease is due to fewer multiples starts as singles are up by
14 per cent mid-way through the year compared to 2007", he added.
    In urban centres across Canada in June there were 18,320 total housing
starts compared to 18,494 starts in June 2007. There were 7,878
single-detached housing starts across Canada last month, 19 per cent less than
the 9,742 single starts in June 2007 while the 10,442 multiple unit housing
starts across Canada last month represented a 19 per cent increase from the
8,752 units started in June 2007.

    (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.)

    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.

                             NOVA SCOTIA SUMMARY
                        2008    2007                  YEAR-TO-DATE
                        -------------   % Change     --------------  % Change
                        JUNE    JUNE                 2008      2007
                 ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    Single               134     162     -17.3%       563       464    21.3%
    Multiple             130     168     -22.6%       472       672   -29.8%
    TOTAL                264     330     -20.0%     1,035     1,136    -8.9%
    Single                18      10      80.0%        71        33   115.2%
    Multiple               4      14     -71.4%        29        22    31.8%
    TOTAL                 22      24      -8.3%       100        55    81.8%
                  ALL URBAN CENTRES WITH POPULATION (greater than)10,000
    Single               227     215       5.6%       899       637    41.1%
    Multiple             154     214     -28.0%       624       761   -18.0%
    TOTAL                381     429     -11.2%     1,523     1,398     8.9%
    Figures for the most recent month are preliminary and subject to
    revisions due to corr ections or updates from quar terly enumer ation 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, Chester MD CA, East Hants MD CA, Kings Subd. A SC CA, Lunenburg
        MD CA, Queens RGM CA, W est Hants MD CA, Yarmouth MD 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: Charlie Aucoin, Market Analyst - Nova Scotia,
Canada Mortgage and Housing Corporation, (902) 426-8465

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