Investment property in West End St. John’s – 38 Forbes Street

June 22, 2011 · Filed Under New MLS Listings, St. John's Investments and St. John's MLS listings · Comment 

  ** SALE PENDING ** Great investment property in West End St. John’s.  38 Forbes Street is a two apartment home located close to Village Mall. Three bedrooms up with 2 bedrooms downstairs . Upgrades include new electrical panel, some newer vinyl windows and laminate floors.   Very spacious basement apartment. Separate laundry for both units as well as separate driveways. MLS: 166858 Asking price is $239,900  Contact Fraser or Stephen Winters for more information.

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Investment Property in East End St. John’s – 25 Toronto Street

June 22, 2011 · Filed Under New MLS Listings, St. John's East End, St. John's Investments and St. John's MLS listings · Comment 

** SALE PENDING ** Located in a prime east end location next to McDonald Drive Elementary / Junior High Schools on the doorstep to Collage of the North Atlantic, Health Sciences, Confederation Building, Marine Institute. Both Units presently rented. Vinyl Windows on main floor. Roof Shingles replaced approx 8 Years ago. Three bedrooms up with a family room for main downstairs. One bedroom apartment downstairs. Ample parking. Great investment property. Separate Meters.  Contact Fraser or Stephen Winters for more information.  MLS: 166724 Asking price is $244,900

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Vacancy Rates Up Across Newfoundland

June 9, 2011 · Filed Under CREA Reports, St. John's Investments and St. John's Rentals Info · Comment 

Results of Canada Mortgage and Housing Corporation (CMHC)’s Spring 2011 Rental Market Survey released today indicate that the overall vacancy rate was up in provincial urban centres in April 2011. The overall vacancy rate was 2.1 per cent, an increase of one per cent from last April’s rate of 1.1 per cent.
The St. John’s area rental market posted a vacancy rate of two per cent in April 2011 compared to 1.1 per cent last April. “With an active labour market, population growth will continue to create rental demand and keep vacancy rates low within the region,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “High home prices and a strong economy are supporting demand for rental units. These factors, coupled with limited new rental supply being added to the market, continue to keep the vacancy rate low,” added Janes.
The Corner Brook area posted the lowest vacancy rate in the province at 1.7 per cent compared to 0.8 per cent a year ago. Other centres surveyed recorded the following vacancy rates: the Gander area increased to 2.3 per cent from 0.6 per cent last year and the Grand Falls-Windsor area came in at 2.7 per cent, a vacancy rate comparable to last year.

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CMHC Report: May Housing Starts for the St. John’s Area

June 8, 2011 · Filed Under CMHC Reports · Comment 

Housing starts in the St. John’s real estate market were flat during the month of May, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). May’s housing starts totaled 223 units throughout the St. John’s area compared to 215 units in May of 2010. There were ten additional starts recorded in urban centres outside the St. John’s area, for a total of 233 provincial urban housing starts. Year-to-date, urban starts are down 17 per cent, with 561 posted province-wide.
“Single-detached construction activity declined considerably in May, but was offset by a significant increase in multiple housing starts in the form of condos in St. John’s,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “The trend towards lower levels of construction activity continued, with the single-detached segment down 27 per cent compared to this time last year,” added Janes.
In urban centres across Canada, total housing starts recorded in May were down seven per cent to 15,025 units compared to 16,178 a year ago. Single-detached starts declined 23 per cent to 6,005 units, while multiple starts increased seven per cent to 9,020 units in May. In the Atlantic region, 848 new homes were started compared to 1,137 during May 2010.

A complete copy of the PDF report can be found here

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