CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - April 8, 2011) - Residential construction in urban centres of the province increased last month compared to March 2010, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data¹ indicate that a total of 13 units were started in March 2011, compared to six units during the same period last year.

"The difference from last year was mainly the result of multiple starts in the Summerside area," said Jason Beaton, market analyst with CMHC in Prince Edward Island. Single- detached starts in Charlottetown reached five units in March 2011, compared to two units last year. There were no single starts in Summerside in March 2011, while multiple starts reached eight units, compared to none a year ago. "On a year-to-date basis, urban starts remain ahead of last year's pace primarily due to multiple unit construction," said Beaton.

In urban centres across Canada, total housing starts recorded in March were up two per cent to 11,655 units compared to last year's total of 11,375. Single-detached starts were down 34 per cent to 3,633 units, while multiple starts were up 37 per cent to 8,022 units this year. In the Atlantic region, 271 new units were started in March 2011 compared to 311 units during the same period in 2010.

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed 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 QUARTERLY HOUSING STARTS PRINCE EDWARD ISLAND SUMMARY