St. John's area August housing starts down

Staff ~ The Telegram
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Urban housing starts decreased during the month of August, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC).
August's housing starts totalled 151 throughout the St. John's area versus 249 starts in August 2008. An additional 18 starts were recorded in other urban areas across the province, for a total of 169 provincial starts compared to 316 the previous August.
For the January to August 2009 period, the St. John's area posted 1,026 housing starts versus 1,079 starts during the same period last year, while provincial starts totaled 1,180 compared to 1,312 a year ago.
"Despite August's decline, the local residential construction sector has posted solid year-to-date results," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. "Employment and population growth throughout the St. John's area this year continues to bode well for residential construction activity."
For Canada's urban centres, total housing starts fell 27 per cent with 12,187 recorded in August compared to 16,807 during August of 2008. Single-detached starts decreased 26 per cent to 5,211, while multiple starts of 6,976 represent a 28 per cent decline from a year ago. Throughout Atlantic Canada, there were 835 urban housing starts posted versus 879 the previous August, a decline of five per cent.

Organizations: Canada Mortgage and Housing Corporation

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

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Comments

Comments

Recent comments

  • D
    July 02, 2010 - 13:35

    Thanks to this wonderful OIL BOOM, housing costs for normal folk are gone up so high we cannot afford a regular sized house in St. John's anymore. Also, rental rates have gone up. Now that the housing assesments have gone up, the only people who wil be able to afford a house in the Avalon are the people in the oil industry.
    This Oil Boom has turned into a oil bummer for us people not relocating from Alberta... :(

  • poor
    July 02, 2010 - 13:34

    Won't be long now and the real estate yahoos will be on the news to shoot down this story as they want the prices high so they can get more commission....

  • Tim
    July 02, 2010 - 13:21

    Anyone know if HRD is funding workers 50% (in order to get their stamps) to work for wealthy contractors for minimum wage? Are some home owners getting their renovations for half the cost at the expense of the taxpayer?

  • Little
    July 02, 2010 - 13:19

    Hey, if I can get my work done for half the price tell me where to sign up. Everything is going up while people are not working to support these over inflated prices created by a greedy market.

    A penny saved as the old saying goes. Long live the underground economy! Let those that took for so long from so many start to pay it forward for a change.

  • Tim
    July 02, 2010 - 13:16

    @Little Johnny: You'er not making sense. It's the rich who are taking advantage of this loophole and getting richer and keeping workers on minimum wage at our expense. Don't mind make work projects that we all benefit from but paying for the renos of a rich person???

  • D
    July 01, 2010 - 20:24

    Thanks to this wonderful OIL BOOM, housing costs for normal folk are gone up so high we cannot afford a regular sized house in St. John's anymore. Also, rental rates have gone up. Now that the housing assesments have gone up, the only people who wil be able to afford a house in the Avalon are the people in the oil industry.
    This Oil Boom has turned into a oil bummer for us people not relocating from Alberta... :(

  • poor
    July 01, 2010 - 20:24

    Won't be long now and the real estate yahoos will be on the news to shoot down this story as they want the prices high so they can get more commission....

  • Tim
    July 01, 2010 - 20:04

    Anyone know if HRD is funding workers 50% (in order to get their stamps) to work for wealthy contractors for minimum wage? Are some home owners getting their renovations for half the cost at the expense of the taxpayer?

  • Little
    July 01, 2010 - 20:00

    Hey, if I can get my work done for half the price tell me where to sign up. Everything is going up while people are not working to support these over inflated prices created by a greedy market.

    A penny saved as the old saying goes. Long live the underground economy! Let those that took for so long from so many start to pay it forward for a change.

  • Tim
    July 01, 2010 - 19:56

    @Little Johnny: You'er not making sense. It's the rich who are taking advantage of this loophole and getting richer and keeping workers on minimum wage at our expense. Don't mind make work projects that we all benefit from but paying for the renos of a rich person???