PEI Housing Starts in December

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Jan. 10, 2012) - Residential construction in urban centres of the province decreased last month compared to December 2010, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data¹ indicate that a total of 38 units were started in December 2011 compared to 80 units for the same period in 2010.

"Charlottetown recorded a decrease in new home construction activity in December compared to the same period in 2010 due to fewer multiple starts," said Jason Beaton, market analyst with CMHC in Prince Edward Island. The most significant decrease was in multiple unit construction in Charlottetown, which reported 14 units compared to 53 starts in the same month a year ago. Despite the decrease in December, urban starts for the year were 13.0 per cent above the pace experienced in 2010.

In urban centres across Canada, total housing starts recorded in December were up 25 per cent to 14,980 units compared to 12,012 a year ago. Single-detached starts increased ten per cent to 5,506 units, while multiple starts increased 35 per cent to 9,474 units in December. In the Atlantic region, 1,047 new units were started compared to 611 during December 2010.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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)

PRELIMINARY URBAN MONTHLY HOUSING STARTS
PRINCE EDWARD ISLAND SUMMARY
	2011	2010			YEAR-TO-DATE
			% Change				% Change
	DEC	DEC			2011	2010
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single	11	17	-35.3	%	201	250	-19.6	%
Multiple	14	53	-73.6	%	333	268	24.3	%
TOTAL	25	70	-64.3	%	534	518	3.1	%
SUMMERSIDE CA
Single	1	0	-		35	23	52.2	%
Multiple	12	10	20.0	%	100	51	96.1	%
TOTAL	13	10	30.0	%	135	74	82.4	%
ALL CENTRES
Single	12	17	-29.4	%	236	273	-13.6	%
Multiple	26	63	-58.7	%	433	319	35.7	%
TOTAL	38	80	-52.5	%	669	592	13.0	%

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

PRELIMINARY URBAN QUARTERLY HOUSING STARTS
PRINCE EDWARD ISLAND SUMMARY
	2011	2010			YEAR-TO-DATE
			% Change				% Change
	Q4	Q4			2011	2010
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single	64	48	33.3	%	201	250	-19.6	%
Multiple	91	101	-9.9	%	333	268	24.3	%
TOTAL	155	149	4.0	%	534	518	3.1	%
SUMMERSIDE CA							-
Single	4	1	##		35	23	52.2	%
Multiple	30	15	##		100	51	96.1	%
TOTAL	34	16	##		135	74	82.4	%
ALL CENTRES
Single	68	49	38.8	%	236	273	-13.6	%
Multiple	121	113	7.1	%	433	319	35.7	%
TOTAL	189	162	16.7	%	669	592	13.0	%

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