Housing starts down

Staff ~ The Telegram
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Nearly 30 per cent fewer homes were being built last month compared to last October.
According to information from the Canada Mortgage and Housing Corporation, 143 houses were started this October in St. John's, compared to 200 in the same month last year.
There were another 22 starts in other urban centres in the province, bringing the number of starts to 165, compared to 227 last October.
Year to date housing starts are off 11 per cent said Chris Janes, a senior market analyst with CMHC in Newfoundland and Labrador in a news release announcing the most recent information.
"Residential construction activity has trended downward for the last three months compared to the same period last year, when elevated demand produced record numbers of new homes," said Janes.
For all Canada's urban centres, total housing starts fell 19 per cent with 14,090 recorded in October compared to 17,389 during October of 2008.

Organizations: Canada Mortgage and Housing Corporation

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

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Recent comments

  • Telling it like
    July 02, 2010 - 13:35

    LOL....D-Man said the one thing that triggered the housing boom in the first place.

    Hebron.

    for some reason, the entire province believes they will be working on the Hebron project, OR that buying a home dependent on an oil project nowhere near start up is a wise thing.

    the real estate agencies saw a lot of buyers coming. Thank God I wasn't one of them.

  • Brett
    July 02, 2010 - 13:33

    Actually - I believe that we will have more people living in the same space, and that will drive up housing prices regardless of how much more people earn.

  • D-MAN
    July 02, 2010 - 13:30

    Now we need to hear a rebuttal from a real-estate agent to tell us all how the market is booming and we need to raise the price of housing another 10%...un-believable! The economy cant sustain the pricing in the metro region people, just because someone says Hebron doesnt mean everyone gets a pay raise, the money in the local economy stays the same, yet the price of everything is going up, let the housing melt down in the US be a warning to you allwe are not immune.

  • Mike
    July 02, 2010 - 13:16

    Better get used to housing prices where they are... cause they won't be going down. For most of us, buying an affordable home will mean leaving the province.

  • tess
    July 02, 2010 - 13:12

    the prices of homes are gone crazy..for something thats being held up with a stick..they want 125,000.00.then they advertise it as a great starter home...of course it is..you got to bring it right back to the studs...so people that's what you are paying for the land...i'd say invest in the u.s.a. market....

  • Foxtrap
    July 02, 2010 - 13:11

    What, we are not all working for Hebron? lol

  • yessireee
    July 02, 2010 - 13:09

    D-MAN you hit the nail on the head. pardon the pun. Yes the real estate agents will be on the radio soon shooting this story down with some silly positive spin. We have 17% unemployment rate and house prices through the roof. Not sure how long this market can sustain these prices. IN the USA when the unemployment reached 10% the place fell apart. How this economy can support 17% unemployment will be a test of time.

  • Telling it like
    July 01, 2010 - 20:25

    LOL....D-Man said the one thing that triggered the housing boom in the first place.

    Hebron.

    for some reason, the entire province believes they will be working on the Hebron project, OR that buying a home dependent on an oil project nowhere near start up is a wise thing.

    the real estate agencies saw a lot of buyers coming. Thank God I wasn't one of them.

  • Brett
    July 01, 2010 - 20:21

    Actually - I believe that we will have more people living in the same space, and that will drive up housing prices regardless of how much more people earn.

  • D-MAN
    July 01, 2010 - 20:18

    Now we need to hear a rebuttal from a real-estate agent to tell us all how the market is booming and we need to raise the price of housing another 10%...un-believable! The economy cant sustain the pricing in the metro region people, just because someone says Hebron doesnt mean everyone gets a pay raise, the money in the local economy stays the same, yet the price of everything is going up, let the housing melt down in the US be a warning to you allwe are not immune.

  • Mike
    July 01, 2010 - 19:56

    Better get used to housing prices where they are... cause they won't be going down. For most of us, buying an affordable home will mean leaving the province.

  • tess
    July 01, 2010 - 19:49

    the prices of homes are gone crazy..for something thats being held up with a stick..they want 125,000.00.then they advertise it as a great starter home...of course it is..you got to bring it right back to the studs...so people that's what you are paying for the land...i'd say invest in the u.s.a. market....

  • Foxtrap
    July 01, 2010 - 19:47

    What, we are not all working for Hebron? lol

  • yessireee
    July 01, 2010 - 19:44

    D-MAN you hit the nail on the head. pardon the pun. Yes the real estate agents will be on the radio soon shooting this story down with some silly positive spin. We have 17% unemployment rate and house prices through the roof. Not sure how long this market can sustain these prices. IN the USA when the unemployment reached 10% the place fell apart. How this economy can support 17% unemployment will be a test of time.