July Housing Starts for the St. John’s Area

August 10, 2011 · Filed Under CMHC Reports · Comment 

CMHC released the July Housing Starts for the St. John’s Area report yesterday. Below is the press release.

ST. JOHN’S, August 9, 2011 – Housing starts in the St. John’s region were up during the month of July, according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). July’s housing starts totaled 258 units throughout the St. John’s area compared to 176 units in July of 2010. There were 24 additional starts recorded in urban centres outside the St. John’s region, for a total of 282 provincial urban housing starts.

“A sizeable increase in multiple housing starts activity contributed to the overall gains in new home construction throughout the St. John’s area in July,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Single-detached starts were up 12 per cent in July to 154 units. Despite the monthly gains, the trend towards lower levels of single housing starts in 2011 remains, with this segment of the market down 15 per cent compared to a year ago,” added Janes.

In urban centres across Canada, total housing starts recorded in July were up three per cent to 16,486 units compared to 15,947 a year ago. Single-detached starts declined 11 per cent to 6,396 units, while multiple starts increased 15 per cent to 10,090 units in July. In the Atlantic region, 1,318 new homes were started compared to 1,348 units during July 2010.

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June Housing Starts for the St. John’s Real Estate Area

July 12, 2011 · Filed Under CMHC Reports · Comment 

CMHC released the June Housing Starts for the St. John’s Area yesterday.  Here is a clip of the article.

“Housing starts in the St. John’s region were up during the month of June, according to  preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). June’s housing starts totaled 278 units throughout the St. John’s area compared to 232 units in June of 2010. There were 56 additional starts recorded in urban centres outside the St. John’s area, for a total of 334 provincial urban housing starts. Year-to-date, urban starts are down 3 per cent, with 935 posted provincewide.
“Higher levels of multiple housing starts supported the overall gains in new home construction activity in the St. John’s area in June,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Single-detached starts were relatively stable in June at 193 units. The trend towards lower levels of single housing starts remains, with this segment down 20 per cent compared to this time last year,” added Janes.
In urban centres across Canada, total housing starts recorded in June were up four per cent to 15,982 units compared to 15,346 a year ago. Single-detached starts declined seven per cent to 7,287 units, while multiple starts increased 16 per cent to 8,695 units in June. In the Atlantic region, 1,051 new homes were started compared to 1,012 units during June 2010.”

A copy of the PDF file can be found here.

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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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April Housing Starts for the St. John’s Area

May 10, 2011 · Filed Under CMHC Reports and St. John's Real Estate · Comment 

ST. JOHN’S, May 9, 2011 – Housing starts in the St. John’s region declined during the month of April, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). April’s housing starts totaled 71 units throughout the St. John’s area compared to 129 units in April  of 2010. There were five additional starts recorded in urban centres outside the St. John’s area, for a total of 76 urban housing starts across the province.

“New home construction activity slowed in April, with significant declines recorded in both single and multiple starts,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “While housing starts are forecast to end the year down from 2010 levels, the trend to lower levels of activity is expected to moderate in the coming months,” added Janes.

In urban centres across Canada, total housing starts recorded in April were down 15 per cent to 13,528 units compared to last year’s total of 15,897. Single-detached starts declined 27 per cent to 5,382 units, while multiple starts decreased four per cent to 8,146 units in April. In the Atlantic region, 551 new units were started compared to 640 units during April 2010.

The complete CHMC Report can be found here.

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February Housing Starts for the St. John’s Area

March 8, 2011 · Filed Under CMHC Reports and St. John's Real Estate · Comment 

ST. JOHN’S, March 8, 2011 – Housing starts in the St. John’s real estate region decreased during the month of February, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC).

February’s housing starts totaled 52 units throughout the St. John’s area compared to 67 units in February of 2010. There were no additional starts recorded in urban centres outside the St. John’s area.
“New home construction activity took a breather during February, with starts down 22 per cent,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “While starts activity is retreating from recent highs, growth in employment, income and population is expected to support the local housing market again this year,” added Janes.

In urban centres across Canada, total housing starts recorded in February were down seven per cent to 9,900 units compared to last year’s total of 10,637. Single-detached starts declined 27 per cent to 3,300 units, while multiple starts increased eight per cent to 6,600 units in February. In the Atlantic region, 269 new units were started compared to 453 units during February 2010.

The full CMHC press release can be found here

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CMHC’s January Housing Starts for the St. John’s Area

February 8, 2011 · Filed Under CMHC Reports · Comment 

CMHC’s Housing Now publications was just released for Newfoundland and Labrador outlining January’s housing starts for the St. John’s real estate market.  Below is the outline of the press release.  For the full PDF file click here.

ST. JOHN’S, February 8, 2011 – Housing starts in the St. John’s region were flat during the month of January, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC).  January’s housing starts totaled 105 units throughout the St. John’s area compared to 104 units in January of 2010.  There were four additional starts  recorded outside the St. John’s area, for a total of 109 provincial urban housing starts compared to 113 last January.

“An 18 per cent increase in single-detached housing construction was offset by lower multiple unit starts activity  during January,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “While starts activity is expected to come off record highs, continued growth in employment, income and population will remain supportive of the local housing market this year,” added Janes.

In urban centres across Canada, total housing starts recorded in January were down six per cent to 9,773 units compared to last year’s total of 10,438. Single-detached starts declined 28 per cent to 3,463 units, while multiple starts increased 13 per cent to 6,310 units in January. In the Atlantic region, 480 new units were started in January compared to 441 units during the same period in 2010.

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