MONCTON, NB, March 8, 2006 -- Total housing starts in New Brunswick's
urban centres for the month of February remained ahead of last year's pace.
According to Canada Mortgage and Housing Corporation's preliminary data,
residential activity reached 61 units in February compared to 36 units over
the same period last year.
"For the most part, the rise in total urban starts in February was
attributable to an increase in both single and multiple starts in Saint John
and Fredericton," said Claude Gautreau, Senior Market Analyst with CMHC's
Atlantic Business Centre. For the month, 49 single units were started in the
province's urban centres, compared to 34 units during the same period last
year. Saint John and Fredericton accounted for more than half of this total
with 17 and 16 single starts, respectively. Although multiple unit
construction remained relatively weak in February with 12 starts, last year's
total of 2 starts for the month was easily surpassed.
Despite the fact that February's totals failed to maintain the quick pace
set in January, year-to-date housing starts, at 217 units, are significantly
higher than the 84 units recorded as of the end of February 2005. The largest
year-to-date increase has been in multiple units, with 97 starts compared to
only 10 starts in 2005. Single starts have also performed well rising from
74 starts in 2005 to the current year's level of 120. "Continued stability in
mortgage rates, combined with a relatively mild winter has helped sustain a
higher level of construction activity during the winter months," added
Gautreau.
For urban centres of Canada, total housing starts in February rose 13 per
cent when compared to 2005. Single starts increased to 5,844 units compared to
4,980 units in February of last year, while multiple starts jumped from
5,921 units in February 2005 to 6,445 units this February. In Atlantic Canada,
residential construction in urban centres reached 304 units in February,
compared to the 222 units started over the same month a year ago.
Canada Mortgage and Housing Corporation (CMHC) has been Canada's national
housing agency for over 60 years. CMHC contributes to improving the living
conditions and the well-being of Canadians through four areas of housing
activities - housing finance, assisted housing, research and information
transfer, and export promotion. CMHC is committed to helping Canadians access
a wide choice of quality, affordable homes, and making vibrant and sustainable
communities and cities a reality across the country. For more information,
visit www.cmhc.ca or call 1 800 668-2642.
PRELIMINARY URBAN MONTHLY HOUSING STARTS
NEW BRUNSWICK SUMMARY
-------------------------------------------------------------------------
2006 2005 YEAR-TO-DATE
--------------- % Change --------------- % Change
FEB FEB 2006 2005
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATIONS greater than 50,000
-------------------------------------------------------------------------
SAINT JOHN CMA
Single 17 7 (xx) 31 24 29.2%
Multiple 4 0 - 8 2 (xx)
TOTAL 21 7 (xx) 39 26 50.0%
-------------------------------------------------------------------------
MONCTON CA
Single 8 12 -33.3% 43 28 53.6%
Multiple 0 2 (xx) 59 6 (xx)
TOTAL 8 14 -42.9% 102 34 (xx)
-------------------------------------------------------------------------
FREDERICTON CA
Single 16 15 6.7% 30 22 36.4%
Multiple 8 0 - 30 2 (xx)
TOTAL 24 15 60.0% 60 24 (xx)
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATION greater than 10,000(*)
-------------------------------------------------------------------------
ALL CENTRES
Single 49 34 44.1% 120 74 62.2%
Multiple 12 2 (xx) 97 10 (xx)
TOTAL 61 36 69.4% 217 84 (xx)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
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
(Saint John CMA, Moncton CA, Fredericton CA, Bathurst CA,
Campbellton CA, Edmundston CA, and Miramichi City).
(xx) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.
- 30 -
For further information please contact:
Claude Gautreau
Senior Market Analyst
New Brusnwick, CMHC
Tel.: (506) 851-2742
