St. John's area May housing starts up: CMHC

Staff ~ The Telegram
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Urban housing starts increased during the month of May, according to preliminary data released today by Canada Mortgage and Housing Corp. (CMHC).
May's housing starts totalled 215 throughout the St. John's area versus 175 starts in May of 2009. There were four additional starts recorded outside the St. John's area, for a total of 219 provincial urban starts compared to 213 last May.
"May's residential construction activity represents a significant increase compared to May 2009. Year-to-date starts are up 24 per cent, with 590 urban starts recorded during the January to May period," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.
"Strong local economic activity, combined with steady population growth, has sustained new home demand during the first five months of 2010."
In urban centres across Canada, total housing starts increased 46 per cent with 15,527 recorded in May compared to 10,615 during May of 2009. Throughout Atlantic Canada, there were 1,045 urban housing starts posted versus 857 the previous May, an increase of 22 per cent.

Organizations: Canada Mortgage and Housing

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

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