CHARLOTTETOWN, March 8, 2006 -- Residential construction in urban centres
of the province increased when compared to the same period last year,
according to figures released today by Canada Mortgage and Housing Corporation
(CMHC). Preliminary data indicate that a total of 38 units were started in
February 2006 compared to 22 during the same month in 2005.
"Total urban housing starts in February exceeded last year's level, due
to multiple starts in the Charlottetown area," said Jason Beaton, Market
Analyst with CMHC in Prince Edward Island. Multiple starts reached 32 units in
Charlottetown in February compared to no units a year ago, while single starts
in Charlottetown fell to 6 units last month compared to 22 units during the
same period last year. In the Summerside area no starts were recorded in
February in either of the past two years "Residential starts in 2006 are
expected to remain strong in historical terms, due to the continued strength
of multiple starts", continued Beaton.
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.
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"PRELIMINARY URBAN MONTHLY HOUSING STARTS
PRINCE EDWARD ISLAND SUMMARY"
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2006 2005 YEAR-TO-DATE
--------------- % Change --------------- % Change
FEB FEB 2006 2005
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ALL URBAN CENTRES WITH POPULATION greater than 10,000
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CHARLOTTETOWN CA
Single 6 22 -72.7% 20 31 -35.5%
Multiple 32 0 - 85 5 (xx)
TOTAL 38 22 72.7% 105 36 (xx)
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SUMMERSIDE CA
Single 0 0 - 3 2 50.0%
Multiple 0 0 - 4 32 -87.5%
TOTAL 0 0 - 7 34 -79.4%
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ALL CENTRES(*)
Single 6 22 -72.7% 23 33 -30.3%
Multiple 32 0 - 89 37 (xx)
TOTAL 38 22 72.7% 112 70 60.0%
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(xx) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.
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For further information please contact:
Jason Beaton
Market Analyst for PEI
Tel.: (506) 851-6047
