Newfoundland’s Population Increases

October 1, 2009 · Filed Under Local St. John's, Newfoundland Economy and St. John's General · Comment 

Newfoundland’s population has increased according to Statistic’s Canada.  The population has grown by 2,484 over the past year to 508,925. This increase might not seem like a big number, but Newfoundlander’s are accustomed to a decline in population year over year.

From April to June 2009, Newfoundland and Labrador’s population climbed 0.28%, the highest second-quarter growth rate since 1983. In contrast to the other Atlantic provinces, the increase was mostly attributable to a net gain in interprovincial migration. It was also the fourth consecutive quarter in which Newfoundland and Labrador has posted gains in its exchanges with the other provinces and territories.

On July 1, 2009, Canada’s population was estimated at 33,739,900. In the second quarter of 2009, Canada’s population grew by 121,200 (+0.36%)

Alberta was the Western province with the fastest demographic growth rate from April to June 2009, at 0.59%.

From April to June, Prince Edward Island had the fastest demographic growth rate in the Atlantic provinces at 0.53%

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New Development proposed for Southlands and Kenmount Road

February 18, 2009 · Filed Under Local St. John's, New Home Construction and St. John's Real Estate · Comment 

715 acres of land for Southlands and 495 acres for the upper part of Kenmount Road could possibly hold 5000  to 7000 homes if approved for residential development. Full article can be read at The Telegram Online – Expanding horizons: St. John’s looking at opening 1,200 acres to development

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Consumer Confidence high in Newfoundland

January 23, 2009 · Filed Under Local St. John's, St. John's General and St. John's Real Estate · Comment 

VOCM.COM reports that Newfoundland is leading the way in consumer confidence.

This province has been bucking the trend in consumer confidence. In fact, a researcher says consumer confidence in Newfoundland and Labrador is possibly the highest in the western world. Corporate Research Associates CEO Don Mills says it will take a lot to shake that.  Mills says this province leads the country in consumer confidence and continues to enjoy a high level of satisfaction with government. He says we’re in a unique situation, as the rest of the country deals with layoffs and downsizing.  He says if there are a lot of people coming back from Alberta, it could make a difference. Mills says CRA will be going back into the field for research next month. Finance Minister Jerome Kennedy says the continued confidence will help the province pull through.

Read full news article here

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New Subdivision in Pleasantville

November 19, 2008 · Filed Under Local St. John's, St. John's General and St. John's Real Estate · 5 Comments 

An interesting article on the CBC website today titled: Community within a community: Housing plan pitched for Pleasantville discussing a proposal for a new subdivision with a mix of condo’s and houses.  Even more interesting are the comments left by residents of St. John’s.  Most seem dead-set against the idea.  Here’s the article below.  What are your thoughts?

A Crown corporation hopes to see a mix of houses, condos and apartments built on the site of a former U.S. military base in St. John’s, on one of the prime undeveloped areas of the city.

Canada Lands Corp. is showcasing its plans for redeveloping Pleasantville and on Wednesday night will make a formal presentation on how it hopes the site — north of Quidi Vidi Lake, and within walking distance of downtown St. John’s — can be transformed.

Project manager John Dalton said the idea behind the mixed development is to create a community within a community.

“If you get that mix, you get what you call aging in place, where someone can move in as a young couple. If they need a bigger place, they could buy a home [and] they could have children,” Dalton said.

“Then, as they become empty-nesters, they could potentially move to an apartment or a condominium, and finally, at that stage of life which we’re all heading, as you’re getting to be … needing some assistance, we’re even providing an opportunity of assisted living.”

The U.S. military developed much of the land as Fort Pepperrell, which was built during the Second World War.

Years later, the site was turned over to the Canadian government, which used part of it as Canadian Forces Station St. John’s and other parts as offices for government departments. The former Janeway children’s hospital was built there in the 1960s, but was demolished earlier this year.

Canada Lands Corp.’s plan of divesting the lands, now considered surplus, will see about 960 residential units built, including single-family and multi-unit homes and hundreds of condominiums. The plan also includes two 10-storey towers that would be built along Logy Bay Road.

Housing advocates and social agencies have long called for a greater mix of housing in the central part of St. John’s, particularly for affordable housing for low- and middle-income earners.

The plan will come under a lot of scrutiny from residents of neighbouring streets, including Alister Eaton, who lives on Ross Road.

“That’s probably the best site left in metropolitan St. John’s. I mean, I grew up here,” said Eaton, adding that the Pleasantville site has had historic attachments, including a training site for the Royal Newfoundland Regiment in 1914.

“It’s always been a sort of historic place and I think done properly it will be great.”

The plan incorporates a $101-million upgrade planned for Canadian Forces Station St. John’s, which is relocating to one corner of the land it currently occupies.

Canada Lands Corp. will make a formal presentation to area residents on Wednesday at 7 p.m. at the Royal Canadian Legion on The Boulevard.

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Are we seeing a slow down in the Newfoundland real estate market?

November 3, 2008 · Filed Under Local St. John's, Market Trends and St. John's Real Estate · Comment 

The stats for the past few months have shown significant price gains in the St. John’s real estate market. However,  the past few weeks we’ve been noticing a slow down in activity.  The stats of course have not be tallied at this point, but it will be interesting to see if this is a trend or a simple lull in the market.

Typically this time of year the real estate market slows a little.  We normally see a quieter October, ramping up in November and then slowing as we near Christmas time.

The month of October brought fear throughout most of North America, if not the world. With the stock market tumbling, prime lending rate dropping, rumors of a recession, the cost of oil dropping (currently sits at $64.72 as I write this) and the removal of the 40 year, 100% financed mortgage.  Quite the exciting month.

Have the effects of this past months news slipped into our real estate market?  Most of the real estate markets throughout Canada have been in a slight decline.  (Check out Maggie Chandler’s post on what Canadian cities housing prices are up and what ones are down)

Are we slowing into this trend or are we just seeing a normal yearly slow down?

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Herbon Announcement Set for Tomorrow

August 19, 2008 · Filed Under Local St. John's, Market Trends, Newfoundland Oil and Gas, St. John's General, St. John's Investments and St. John's Real Estate · Comment 

The day has finally arrived. All newspapers and local websites are anticipating a formal announcement tomorrow from Premier Danny Williams giving the thumbs up for Hebron. Good timing seeing that the deadline for the agreement was slated to expire on Thursday.

The breakdown in ownership is Chevron Corp. which owns 28 per cent, Exxon Mobil Corp. the largest shareholder with 37.5 per cent, Petro-Canada and Norway’s state-owned StatoilHydro ASA own the rest. The province of Newfoundland will receive a 4.9 per cent equity stake in the project.

So far this year St. John’s Real Estate has jumped about 20% with a projected 15% increase in 2009. In the beginning of the year CHMC went on record saying 7 – 8% increase in housing prices while Remax was deemed highly optimistic with their 12% projection for 2008.

With this impending news release, how will the real estate market react? When will the oil companies start moving people into the St. John’s and start buying up properties? Is too much of a good thing too fast good for Newfoundland Real Estate?

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Regetta and Hebron – to be confirmed

August 6, 2008 · Filed Under Local St. John's and St. John's General · Comment 

News this morning (5:45am) postponed the 190th St. John’s Royal Regatta due to weather, maybe til Thursday (personally I’d say Friday)  Could make it a long weekend in St. John’s.  So it’s business as usual this first Wednesday in August.

Speaking of business….the Hebron deal has been postponed as well.  Final last minute details are still being worked out.  The memorandum of understanding expires August 21st.

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