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St. John's Newfoundland is one of North America’s oldest cities. Spectacular coastlines, panoramic views, outdoor adventure, rich history and culture await all who live here.
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Since Chevron signed the multibillion-dollar memorandum of understanding to develop the Hebron offshore oilfield project back in August 2007, St. John's real estate and surrounding areas have gained favorable optimism and increases in residential homes. Looking to sell you home for TOP DOLLAR? Contact Fraser and Stephen Winters for your free, confidential Home Market Evaluation
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St. John’s Housing Starts Increase in September
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
Canadian Real Estate News Roundup
It’s the middle of the week and after having brutal weather, very high winds and approximately 65mm of rain I had a little time to surf the web. 
Below are a couple of real estate related articles and news clips I stumbled upon. Enjoy!
- Looking for a couple quick and simple kitchen reno ideas? Lazy Man and Money has a post on his blog on the topic of Easy and Cheap Home Remodels.
- A proposed 85 lot Subdivision off St. Thomas Line in Paradise gets heated over the future of the town.
- Toss the dice, spin the wheel….buy a raffle ticket to win your American dream home.
- A condo can be extremely exciting & stressful to purchase. Become familiar with purchasing a condo in St. John’s with this complete buyer’s condo checklist.
- Urban housing starts increased during September, according to preliminary data released today by Canada Mortgage and Housing Corporation. Read more on the article St. John’s Housing Starts Increase in September and see the break down for other cities in Newfoundland.
Recommended Real Estate Links
- Fraser and Stephen Winters
- Remax St.John's
- Terry Kelly
- St. John's MLS Listings
- Carter Home Designs
- St. John's Newspaper
- VOCM Local News
- CBC Newfoundland
- Eastern School District
- St. John's Weather
- St. John's Board of Trade
Real Estate Sites
- Search MLS.ca
- St. John's Listings
- Globe & Mail Real Estate
- Real Estate Blogs Directory
- Home Builders Association
- Atlantic Home Warranty
- Homeplus Online
Recent Entries
- St. John’s Real Estate outlook for 2009
- Vacancy Rate for St. John’s, Mount Pearl and surrounding areas
- Economic Funamentals supported record breaking St. John’s real estate
- St. John’s Newfoundland leads the charge for residential real estate in Canada for 2008
- Threat of global recession hinders home sales in major Canadian housing markets in 2008 and 2009, says RE/MAX
- New Subdivision in Pleasantville
- Vacancy Rate in St. John’s Decreases
- St. John’s Fall Housing Market
- Canada Real Estate News Roundup #2
- October Newfoundland Real Estate MLS Stats
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