Urban housing starts remain consistent in Newfoundland and Labrador

Staff ~ The Telegram
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Urban housing starts posted consistent results during the month of December and throughout 2009, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC).
According to a news release, December's housing starts totalled 201 throughout the St. John's area versus 202 starts in December 2008. An additional 22 starts were recorded in other urban areas across the province, for a total of 223 provincial starts compared to 226 the previous December. For 2009, urban housing starts totaled 1,703 in the St. John's area and 2,022 provincially.
"The local residential construction industry remained buoyant throughout 2009 and ended the year off just nine per cent compared to 2008's record pace," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.
"Despite weakness in the global economy in 2009, positive local economic and demographic factors continued to support stable residential construction activity within the St. John's region, as well as in other urban centres across the province."
For Canada's urban centres, total housing starts increased 17 per cent with 12,262 recorded in December compared to 10,488 during December of 2008. Single-detached starts increased 44 per cent to 6,222, while multiple starts of 6,040 represent a two per cent decline from a year ago. Throughout Atlantic Canada, there were 672 urban housing starts posted versus 574 the previous December, an increase of 17 per cent.

Organizations: Canada Mortgage and Housing Corporation

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

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