Housing starts up in St. John’s-metro region

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A CMHC graph compares seasonally adjusted annual rates for housing starts in the St. John's-metro region for December 2010, 2011 and 2012.

The number of housing starts in the St. John's-metro region reached 2,153 units in 2012, a 12 per cent increase over 2011, according to the Canada Mortgage and Housing Corp. (CMHC).

The corporation said in a news release today, single-detached starts added 120 actual units in December compared to 104 units a year ago. Multiple starts totalled 70 actual units in December versus 27 units in December of 2011.

"For 2012, single starts were flat while multiple starts advanced considerably, resulting in a 12 per cent increase in total new home construction activity throughout the St. John's area. Growth in population, income and employment, paired with favourable mortgage rates, supported housing demand throughout the year," said Chris Janes, CMHC's senior market analyst for St. John's.

More information on housing starts, including CMHC's seasonally adjusted rates can be found online at www.cmhc.gc.ca.

 

 

Organizations: Canada Mortgage and Housing

Geographic location: St. John's

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