February Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - March 8, 2011) - New residential construction in Halifax decreased last month compared to February 2010 according to preliminary data⁽¹⁾ released today by Canada Mortgage and Housing Corporation (CMHC). There were 158 housing starts last month, compared to 292 recorded in February of 2010.

"New home construction decreased significantly in February as compared to the relatively high level of activity in February of 2010," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "On the multiples side, activity was supported by apartment construction that was well-above the ten-year monthly average of 59 starts," Gilmore added. "Single-detached construction fell from 80 units last year to 29 units in February," Gilmore said.

In urban centres across Canada, total housing starts recorded in February were down seven per cent to 9,900 units compared to last year's total of 10,637. Single-detached starts declined 27 per cent to 3,300 units, while multiple starts increased eight per cent to 6,600 units in 2011. In the Atlantic region, 269 new units were started in February 2011 compared to 453 units during the same period in 2010.

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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PRELIMINARY URBAN MONTHLY HOUSING STARTS NOVA SCOTIA SUMMARY

	2011	2010		YEAR-TO -DATE
			% Change			% Change
	FEB	FEB		2011	2010
	ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single	29	80	-63.8%	73	135	-45.9%
Multiple	129	212	-39.2%	332	220	50.9%
TOTAL	158	292	-45.9%	405	355	14.1%
CAPE BRETON RGM
Single	7	4	75.0%	10	10	0.0%
Multiple	2	2	0.0%	8	6	33.3%
TOTAL	9	6	50.0%	18	16	12.5%
	ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single	44	120	-63.3%	105	211	-50.2%
Multiple	132	223	-40.8%	343	242	41.7%
TOTAL	176	343	-48.7%	448	453	-1.1%

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, Chester MD, East Hants MD, Kings Subd. A SCM, Lunenburg MD, Queens RGM, West Hants MD, Yarmouth MD).

## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.