Construction/Building — September 11, 2012

August Housing Starts in PEI

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Sept. 11, 2012) - Residential construction in urban centres of the province increased last month compared to August 2011, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data1 indicate that a total of 77 units were started in August 2012 compared to 68 units for the same period last year.

"New home construction results were mixed in Charlottetown and Summerside when compared to August 2011," said Jason Beaton, market analyst with CMHC in Prince Edward Island. In the capital region, both single and multiple starts increased compared to last year. In Summerside, single starts declined to one unit from ten units in 2011, while multiple starts increased from two to eight units. "On a year-to-date basis, total starts in the province's urban centres are above 2011 levels, with gains in multiple starts being partially offset by a decline in single starts," added Beaton.

In urban centres across Canada, total housing starts recorded in August increased 19 per cent to 17,725 units compared to 14,938 a year ago. Single-detached starts decreased five per cent to 6,015 units, while multiple starts increased 36 per cent to 11,710 units in August. In the Atlantic region, 1,112 new units were started compared to 795 during August 2011.

As Canada's national housing agency, CMHC draws onmore 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.

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PRELIMINARY URBAN MONTHLY HOUSING STARTS
PRINCE EDWARD ISLAND SUMMARY
AUGUST AUGUST YEAR-TO-DATE
2012 2011 % Change 2012 2011 % Change
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single 26 22 18.2% 129 121 6.6%
Multiple 42 34 23.5% 250 168 48.8%
TOTAL 68 56 21.4% 379 289 31.1%
SUMMERSIDE CA
Single 1 10 -90.0% 14 27 -48.1%
Multiple 8 2 # # 17 70 -75.7%
TOTAL 9 12 -25.0% 31 97 -68.0%
ALL CENTRES
Single 27 32 -15.6% 143 148 -3.4%
Multiple 50 36 38.9% 267 238 12.2%
TOTAL 77 68 13.2% 410 386 6.2%
Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from quarterly enumeration or sampling results.
## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.

Contact Information

Jason Beaton, Market Analyst
Canada Mortgage and Housing Corporation
(506) 851-6047
jbeaton@cmhc-schl.gc.ca

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