St. John's Real Estate Blog » chris janes

CMHC St. John’s Area June Housing Starts

Stephen Winters — Tue, 13 Jul 2010 15:38:17 +0000

Urban housing starts increased during the month of June, according to preliminary data released by Canada Mortgage and Housing Corporation (CMHC). June’s housing starts totaled 232 throughout the St. John’s area versus 183 starts in June of 2009. There were 53 additional starts recorded outside the St. John’s area, for a total of 285 provincial urban starts compared to 230 last June. “The number of new homes started in June represents a significant increase compared to June 2009. Year-to-date starts are up 25 per cent within the St. John’s region, with 822 starts recorded during the January to June period,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Healthy economic and demographic trends have supported new home demand during the first half of 2010,” added Janes. In urban centres across Canada, total housing starts increased 31 per cent with 15,345 recorded in June compared to 11,686 during June of 2009. Throughout Atlantic Canada, there were 1,012 urban housing starts posted versus 904 the previous June, an increase of 12 per cent.

Complete news release can be found here

April Housing Starts in St. John’s Area

Stephen Winters — Mon, 10 May 2010 12:05:10 +0000

ST. JOHN’S, May 10, 2010 – Urban housing starts increased during the month of April, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC). April’s housing starts totaled 129 throughout the St. John’s area versus 87 starts in April of 2009. There were four additional starts recorded outside the St. John’s area, for a total of 133 provincial urban starts compared to 106 last April.

“April’s brisk new home construction activity positioned the market 48 per cent ahead of the same month last year and 25 per cent year-to-date,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Continued growth in local employment, income and population combined with low mortgage rates has supported residential construction activity during the first four months of 2010,” added Janes.

In urban centres across Canada, total housing starts increased 79 per cent with 14,995 recorded in April compared to 8,387 during April of 2009. Throughout Atlantic Canada, there were 573 urban housing starts posted versus 419 the previous April, an increase of 37 per cent.

SOURCE: CMHC

CMHC Reports St. John’s Area February Housing Starts

Stephen Winters — Tue, 09 Mar 2010 13:31:12 +0000

ST. JOHN’S, March 8, 2010 – Urban housing starts increased during the month of February, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC). February’s housing starts totaled 68 throughout the St. John’s area versus 45 starts in February of 2009. There were no additional starts recorded outside the St. John’s area. “February’s brisk residential construction activity was attributed to a combination of continued demand and an unseasonably mild winter month,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Local economic and demographic conditions continue to support new home construction throughout the St. John’s region and the first two months of 2010 indicate a solid start to the year,” added Janes.

2009 Urban Housing Starts in Newfoundland and Labrador

Stephen Winters — Mon, 11 Jan 2010 14:51:33 +0000

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.

Little Change in Investment Properties Vacancy rates in St. John’s Metro

Stephen Winters — Mon, 21 Dec 2009 12:18:53 +0000

According to the results of the fall 2009 rental market survey released today by Canada Mortgage and Housing Corporation (CMHC), the vacancy rate in the St. John’s census metropolitan area (CMA) was 0.9 per cent in October compared to a similar 0.8 per cent vacancy rate in 2008. The average two bedroom monthly rent increased to $677. “Solid economic activity and positive employment growth within the St. John’s area sustained rental market demand, resulting in low vacancies and higher rents throughout 2009,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “The local oil industry and a lengthy list of major capital projects continued to stimulate local economic growth and in-migration to the region this year,” added Janes. Provincially, vacancy rates in percentage terms were 0.4 in the Corner Brook census agglomerate (CA), 1.6 in Gander and 1.7 in Grand Falls-Windsor CA. The combined provincial vacancy rate for all centres surveyed was 1.0 per cent.

St. John’s Area November Housing Starts

Stephen Winters — Thu, 10 Dec 2009 14:28:38 +0000

St. John’s Area November Housing Starts

Urban housing starts held steady during the month of November, according to preliminary data released today by Canada Mortgage an Housing Corporation (CMHC). November’s housing starts totaled 176 throughout the St. John’s area versus 173 starts in November of 2008. An additional 12 starts were recorded in other urban areas across the province, for a total of 188 provincial starts compared to 196 the previous November. “St. John’s area housing starts held steady relative to last November, posting a small increase of two per cent, with year-to-date starts off ten per cent compared to 2008’s accelerated pace,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Employment, income and population growth continues to support residential construction activity throughout the St. John’s region,” added Janes.

For Canada’s urban centres, total housing starts were flat with 13,507 recorded in November compared to 13,500 during November of 2008. Single-detached starts increased 15 per cent to 6,671, while multiple starts of 6,836 represent an 11 per cent decline from a year ago. Throughout Atlantic Canada, there were 641 urban housing starts posted versus 734 the previous November, a decline of 13 per cent.

St. John’s Area August Housing Starts – Press Release from CMHC

Stephen Winters — Thu, 10 Sep 2009 09:34:53 +0000

Urban housing starts decreased during the month of August, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). August’s housing starts totaled 151 throughout the St. John’s real estate area versus 249 starts in August of 2008. An additional 18 starts were recorded in other urban areas across the province, for a total of 169 provincial starts compared to 316 the previous August. For the January to August 2009 period, the St. John’s area posted 1,026 housing starts versus 1,079 starts during the same period last year, while provincial starts totaled 1,180 compared to 1,312 a year ago.

“Despite August’s decline, the local residential construction sector has posted solid year to date results,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Employment and population growth throughout the St. John’s area this year continues to bode well for residential construction activity,” added Janes.

For Canada’s urban centres, total housing starts fell 27 per cent with 12,187 recorded in August compared to 16,807 during August of 2008. Single-detached starts decreased 26 per cent to 5,211, while multiple starts of 6,976 represent a 28 per cent decline from a year ago. Throughout Atlantic Canada, there were 835 urban housing starts posted versus 879 the previous August, a decline of 5 per cent.

St. John’s Area Housing Starts Post Solid Growth in December

Stephen Winters — Tue, 13 Jan 2009 17:37:56 +0000

News release from Canadian Mortgage and Housing Corporation

Urban housing starts posted solid growth during the month of December, according to preliminary data1 released today by Canada Mortgage
and Housing Corporation (CMHC). December’s total housing starts posted 55 per cent growth, with 202 starts recorded throughout the St. John’s area versus 130 in December of 2007. An additional 24 housing starts were recorded in other urban areas across the province for a total of 226 provincial starts, an increase of 44 per cent. For the year, urban housing starts totaled 2,229 throughout the province, up 22 per cent. Within the St. John’s region, starts reached a 33-year high of 1,863 in 2008, a 26 per cent gain over the 1,480 starts posted in 2007.

“Urban housing starts ended the year with considerable growth and were consistent with CMHC’s new home construction expectations for 2008,” said Chris Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador. “Residential construction activity within the St. John’s metro area reached a 33-year high in 2008, with solid economic and demographic fundamentals creating unprecedented buyer demand and price growth throughout the year,” added Janes. For Canada’s urban centres, total housing starts decreased six per cent with 10,487 recorded in December compared to 11,157 during December of 2007. Single-detached starts fell 29 per cent to 4,335, while multiple starts of 6,152 represent a 22 per cent increase from a year ago. Throughout Atlantic Canada, there were 574 urban housing starts posted versus 651 the previous December, a decline of 12 per cent.

St. John’s Housing Starts Increase in September

Stephen Winters — Wed, 29 Oct 2008 13:43:14 +0000

ST. JOHN’S, October 8, 2008 – Urban housing starts increased during the month of
September, according to preliminary data1 released today by Canada Mortgage and
Housing Corporation (CMHC). September’s total housing starts increased 18 per cent,
with 268 posted throughout Newfoundland and Labrador compared to 227 a year ago.
So far this year, urban housing starts total 1,580 across the province, up 22 per cent.
209 of the 268 provincial starts were recorded within the St. John’s region versus 178
last September, an increase of 17 per cent. Year-to-date, housing starts within the St.
John’s region are 23 per cent higher than the same period last year, with 1,288
recorded.
“New home demand remains very high within the local housing market and much of the
increase in housing starts during September can be attributed to a 40 per cent reduction
in existing home inventory so far this year,” said Chris Janes, Senior Market Analyst with
CMHC in Newfoundland and Labrador. “With the Hebron agreement now in place, a
bustling local economy and positive in-migration, both the new and existing home
markets continue to show signs of strength,” added Janes.
For Canada’s urban centres, total housing starts retreated 20 per cent with 17,644 in
September compared to 22,033 during September of 2007. Single-detached starts fell
23 per cent to 6,299 while multiple starts of 11,345 represent an 18 per cent decrease
from a year ago. Throughout Atlantic Canada, there were 1,030 urban housing starts
versus 1,029 the previous September.

Just released from CMHC Housing Now Publication

Newfoundland Real Estate housing starts up again

Stephen Winters — Thu, 10 Jul 2008 12:43:45 +0000

Released from CMHC Housing Now publications, the starts press release for Newfoundland and Labrador.

Provincial urban housing starts were up during the first half of this year, despite a slight decrease during the month of June, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). June’s total housing starts dipped seven per cent, with 212 posted within the province compared to 228 a year ago. A total of 172 of the 212 starts were within St. John’s metro versus 180 last June.

Year-to-date, there have been 738 new homes started across the province versus last year’s total of 623 homes, an increase of 18 per cent. A total of 628 of these starts occurred within St. John’s metro, for a year-to-date increase of 20 per cent.

“The demand for newly built homes remains very high within the local housing market and the solid increase in housing starts during the first half of this year was driven by a low level of existing homes for sale,” said Chris Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador. “With a buoyant economy and positive net migration, tight market conditions are expected to continue and strong demand for housing will drive prices higher throughout the second half of 2008,” added Janes.