2009 Urban Housing Starts in Newfoundland and Labrador

January 11, 2010 · Filed Under CMHC Reports, Market Trends, New Home Construction and St. John's Real Estate · Comment 

ST. JOHN’S, January 11, 2010 – Urban housing starts posted consistent results during the month of December, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC). December’s housing starts totaled 201 throughout the St. John’s area versus 202 starts in December of 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,” added Janes.
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.

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Pleasantville Subdivision getting closer to being approved

April 8, 2009 · Filed Under New Home Construction · Comment 

65 acres of land in Pleasantville could be given the go ahead next month.  Single family, duplexes,  condo’s and town homes are expected to surround the shores of Quidi Vidi Lake.  If approved lands sales could go on sale by the end of the summer.

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St. John’s Area Housing Starts Increase in January

February 19, 2009 · Filed Under CMHC Reports, New Home Construction and St. John's Real Estate · Comment 

The following is CMHC’s newest press release for housing starts in St. John’s for January.

Urban housing starts increased during the month of January, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). January’s total housing starts increased 88 per cent, with 124 starts recorded throughout the St. John’s area versus 66 starts in January of 2008. An additional six housing starts were recorded in other urban areas across the province for a total of 130 provincial starts, an increase of 91 per cent.

“January’s urban housing starts posted considerable growth over the same month last year and can be attributed to the relatively mild winter conditions experienced throughout the month,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Pent-up demand, paired with builder capacity constraints, appears to have caused some of the residential construction activity from last year to spill over into the first month of 2009,” added Janes.

For Canada’s urban centres, total housing starts fell 40 per cent with 7,244 recorded in January compared to 12,153 during January of 2008. Single-detached starts decreased 44 per cent to 2,512, while multiple starts of 4,732 represent a 38 per cent decline from a year ago. Throughout Atlantic Canada, there were 348 urban housing starts posted versus 385 the previous January, a decline of ten per cent.

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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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Clovelly Trails Lot Prices now available

May 29, 2008 · Filed Under First Time Buyers, New Home Construction and St. John's Real Estate · Comment 

Clovelly Trails Phase 3a lot prices are now up on the website for the public and purchasers to view. Clovelly Trails appears to be the most popular subdivision in St. John’s this year. 69 of their lots have had deposits on them for months. Some dating back to 2007.

The lot prices range from $69,900 to $94,900 (plus HST). A hefty jump since the last phase (base price was approx $54,900) but the demand is there to justify it.

Almost all subdivisions in St. John’s and Paradise have increased in prices since last year some as much as ten to fifteen percent.

Remember Fraser and Stephen Winters can represent your interests in the buying of your new construction home. We will be there from lot and house design selection, through signing the paperwork, choosing your paint colors – all the way to final walk-through and beyond.

There are ZERO costs to use our services on the buying side of purchasing your new (or pre-existing) home. There is no cost to you – no decreased incentives – no increased price – the developers actually pay us to work with you through the buying process. Contact us and we’ll show you how we can assist you in finding the new home you’re looking for in ANY subdivision.

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HRV risk of overheating causing fire

March 25, 2008 · Filed Under Home Maintenance, New Home Construction and Real Estate Articles · 2 Comments 

Venmar Ventilation has received several reports of major home fires where the suspected cause is a heat recovery system. Therefore, Venmar Ventilation released this press release which affects heat recovery systems as these systems can fail and pose a potential fire hazard to homeowners.

I looked into mine and it was determined that I had one of the HRV’s in question. (Model: 43720) You can fill out the Request Form Product Recall – Safety Upgrade Program and find out if your model is listed as well.

The recall is for models manufactured between 1991 and 2001 as well as between October 2006 and August 2007.
Owners of air exchange systems that are covered by this Safety Upgrade Program must immediately turn their unit off and unplug it, and contact Venmar as soon as possible. (1 866-441-4645) or by visiting their website at www.venmar.ca

It has come to Venmar’s attention that an unlikely series of circumstances could lead to a motor overheating in certain models of air exchangers that may result in a potential fire hazard. For models manufactured between 1991 and 2001 Venmar will provide a safety upgrade device, called Power Plug Adaptor free of charge. For models manufactured between October 2006 and August 2007 Venmar will send a field technician who will inspect and fix the affected units, free of charge.
The Safety Upgrade Program affects certain units distributed under the names: Venmar, Venmar AVS,Flair, vänEE, Sears, Guardian by Broan, NuTone, Conformax, Payne, Day & Night, Carrier, Bryant, Heil, York, Rheem, Ruud, Protech and Weatherking Heat Recovery Ventilators sold in North-America. This program covers units with the following model numbers only. This model number is located on a silver or a black label positioned on the outside panel of the unit.

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New home construction economic clause

February 20, 2008 · Filed Under New Home Construction and St. John's Real Estate · Comment 

There has been quite a debate around the “real estate water cooler” in recent weeks.  Towards the end of 2007  some local builders and subdivisions in St. John’s implemented a new “Economic Clause” to their contracts.  Buyers have been noted to shy away from certain subdivisions and proceed to others that do not insert this clause.  The debate is over whether this clause protects the buyer or the builder.   Does it protect the buyer from an increase in purchase price of the house?  Does it allow the builder the option to raise the price of the house prior to starting construction?

The clause states:

“This Agreement of Purchase and Sale is subject to the Vendor confirming to the Purchaser or the Purchaser’s Agent in writing the final sale price on or before the expiry of 14 days prior to excavation of the dwelling. If no written confirmation of the final sale price is issued by the Vendor on or before the expiry of 14 days prior to excavation of the dwelling the Purchase Price referenced herein before shall be deemed to be the final sale price. If written notification of an increase in the final sale price is issued with which the Purchaser is not satisfied then this Agreement of Purchase and Sale shall be void and of no effect. Upon receipt of the written notice of the increased final sale price from the Vendor the Purchaser must acknowledge in writing within 72 hours their agreement with the increase in price, and failure to do so renders this Agreement of Purchase and Sale void and of no effect with the Vendor returning the Purchasers Deposit or down payment.”

What are your thoughts on this clause? Are you in favor of the builder being protected or the buyer?

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