St. John’s Real Estate July Housing Starts

August 10, 2010 · Filed Under CMHC Reports 

Just released from CMHC: Housing Now publications press release for housing starts in Newfoundland and Labrador.

“Urban housing starts decreased during the month of July, according to  preliminary released today by Canada Mortgage and Housing Corporation (CMHC). July’s housing starts totaled 176 throughout the St. John’s area versus 216 starts in July of 2009. There were 19 additional starts recorded outside the St. John’s area, for a total of 195 provincial urban starts compared to 270 last July. Year to- date, starts remain positive, with 998 recorded in the St. John’s region versus 875 last year.


“July’s decline in the number of new homes started is in line with the current forecast and the expectation that starts will slow over the  remainder of 2010,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “New home demand was steady in the first half of 2010, but will continue to be lower in the coming months, due to recent price growth and record high home prices,” added Janes.

In urban centres across Canada, total housing starts increased 34 per cent with 15,195 recorded in July compared to 11,313 during July of 2009. Throughout Atlantic Canada, there were 1,208 urban housing starts posted versus 954 the previous July, an increase of 27 per cent.”

The entire Housing Now release can be found here.

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