MONCTON, NEW BRUNSWICK--(Marketwire - Oct. 9, 2012) - Housing starts in Prince Edward Island (PEI) were trending at 896 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. The standalone monthly SAAR was 1,109 units in September, up from 818 in August.

"For the month of September, new home construction was slightly above the 2011 level, due mainly to an increase in single starts in Charlottetown. On a year-to-date basis, total starts in the province's urban centres are above 2011 levels, with gains in both multiple and single starts," said Jason Beaton, CMHC's Market Analyst for Prince Edward Island.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analyzing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

Single-detached starts added 35 actual units in September 2012. Multiple starts totaled 64 actual units in September compared to 74 units reported in September of last year. Overall total starts year-to-date 2012 remain ahead of the pace set last year with 509 actual units recorded, up from 480 units during the same period last year.

Preliminary Housing Starts data is also available in English and French at the following link:Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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.

(1) All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Additional data is available upon request.

(Ce document existe également en français)

A graph is available at the following link :

Preliminary Housing Start Data
September / 2011-2012
Prince Edward Island Centers, 10,000+ September 2011 September 2012
Actual, urban centres1
September - Single-Detached 20 35
September - Multiples 74 64
September - Total 94 99
January to September - Single-Detached 168 178
January to September - Multiples 312 331
January to September - Total 480 509
August 2012 September 2012
SAAR2, urban centres1
Total 818 1,109
Source: CMHC
1 Urban centres with a population of 10,000 and over.
2 Seasonally Adjusted at Annual Rates
Detailed data available on request.
Prince Edward Island Preliminary Actual Housing Start Data
Third Quarter / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000 - 49,999
Charlottetown CA 66 84 131 171 197 255
Summerside CA 19 4 40 10 59 14
Urban Centres 10,000 - 49,999 85 88 171 181 256 269
Prince Edward Island Preliminary Actual Housing Start Data
January to September / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000 - 49,999
Charlottetown CA 137 162 242 312 379 474
Summerside CA 31 16 70 19 101 35
Urban Centres 10,000 - 49,999 168 178 312 331 480 509

Contact Information:

Market Analysis Contact:
Jason Beaton
Cell: 506-874-3989

Media Contact:
Patricia Montreuil
Cell: 506-866-8047