St. John’s Area March Housing Starts

                   St. John’s Area March Housing Starts

ST. JOHN’S, April 12, 2010 – Urban housing starts increased during the month of March, according to preliminary data Corporation (CMHC). March’s housing starts totaled 75 throughout the St. John’s area versus 45 starts in March of 2009. There were six additional starts recorded outside the   St. John’s area, for a total of 81 provincial urban starts compared to 47 last March. For the first quarter of 2010, there was a record 246 urban housing starts posted in the St. John’s region versus 214 during the same period in 2009.

“March’s strong new home construction activity was due to a combination of continued demand and another unseasonably mild winter month,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Positive economic and demographic factors continue to support residential construction activity throughout the St. John’s region and the first three months of 2010 indicate a solid start to the year,” added Janes.

For Canada’s urban centres, total housing starts increased 32 per cent with 11,371 ecorded in March compared to 8,605 during March of 2009. Single-detached starts increased 117 per cent to 5,536, while multiple starts of 5,835 represent a four per cent decline from a year ago. Throughout Atlantic Canada, there were 311 urban housing starts posted versus 244 the previous March, an increase of 27 per cent.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. 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 vital decisions.

 

For more information, visit www.cmhc.ca or call 1-800-668-2642.

Chris Janes

Senior Market Analyst – NL

CMHC Market Analysis Centre

Stephen Hall

Stephen Hall

Affiliated Real Estate Agent
CENTURY 21 Seller's Choice Inc.
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