Urban housing starts down slightly in January

Staff ~ The Telegram
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Urban housing starts were moderately lower during January in the St. John's area, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC).
In a news release, it states January's housing starts totalled 104 throughout the St. John's area versus 124 starts in January 2009. An additional six starts were recorded in other urban areas across the province, for a total of 110 provincial starts compared to 130 the previous January.
"Despite winter, healthy residential construction activity was recorded during the typically slow month of January," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.
"Local economic and demographic trends continue to sustain residential construction activity within the St. John's region and the current expectation is for a positive 2010."
For Canada's urban centres, total housing starts increased 40 per cent with 10,218 recorded in January compared to 7,309 during January of 2009. Single-detached starts increased 81 per cent to 4,723, while multiple starts of 5,495 represent a 17 per cent climb from a year ago. Throughout Atlantic Canada, there were 424 urban housing starts posted versus 355 the previous January, an increase of 19 per cent.

Organizations: Canada Mortgage and Housing Corporation

Geographic location: St. John's, Atlantic Canada, Newfoundland and Labrador

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