St. Johns area housing starts on a positive swing

Staff ~ The Telegram
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Housing starts in the St. John's area increased during June and were positive during the first half of 2009, according to preliminary data released today by Canada Mortgage and Housing Corp. (CMHC).
According to a news release, June's housing starts totalled 183 throughout the St. John's area versus 172 starts in June 2008. An additional 47 housing starts were recorded in other urban areas across the province, for a total of 230 provincial starts compared to 212 the previous June.
For the January to June 2009 period, St. John's area housing starts totaled 659 versus 628 starts during the same period last year, while provincial starts totaled 774 compared to 738 a year ago.
"For the month of June and the first half of this year, St. John's was one of only five metropolitan areas in Canada to record growth in residential construction activity," said Chris Janes, senior market analyst with CMHC in the province.
"Local job, income and population growth continue to fuel the housing sector in 2009."
For Canada's urban centres, total housing starts fell 36 per cent with 11,686 recorded in June compared to 18,338 during June of 2008.
Single-detached starts decreased 27 per cent to 5,716, while multiple starts of 5,970 represent a 43 per cent decline from a year ago.
Throughout Atlantic Canada, there were 904 urban housing starts posted versus 1,092 the previous June, a decline of 17 per cent.

Organizations: Canada Mortgage and Housing

Geographic location: St. John's, Atlantic Canada

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Recent comments

  • W
    July 02, 2010 - 13:18

    NO wonder we are low on water...........anyone hear of planning

  • W
    July 01, 2010 - 19:59

    NO wonder we are low on water...........anyone hear of planning