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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.

Stephen & Fraser Winters your RE/MAX real estate agents for St. John's. Whether buying, selling or relocating to Newfoundland put the successful Father and Son Realtors to work for you. Fraser and Stephen will show you the smart approach to buying and selling St. John's Real Estate.

Looking to buy a home in St. John’s? Relocating from another city to St. John's? Fraser and Stephen Winters are here to help you! Whether you are buying or selling, take advantage of our free St. John's real estate market reports and access to the St. John's area MLS.

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

This real estate blog is written by Fraser & Stephen Winters. We both are full time successful top producing RE/MAX Realtors in St. John's, Newfoundland. The information contained on this website is from sources believed to be reliable. However, it may be incorrect. This information should not be relied upon without personal verification. We assume no responsibility for its accuracy. This information is not intended to solicit clients already under contract. For more information about us visit our website.
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Newfoundland 2008 Budget Highlights

April 30, 2008 · Filed Under Local St. John's · Comment

The Newfoundland and Labrador Economy Highlights

Economic Performance 2007
- Real GDP increased by 7.9% driven by exports of oil and minerals and consumer and government sector spending.
- The unemployment rate fell to 13.6%, a reduction of 1.2 percentage points and the lowest rate in 26 years.
- Personal income growth of 4.3% and personal disposable income growth of 5%.
- Retail sales growth of 9.5%.
- Increased residential construction investment of 9.9% with 2,652 housing starts.
- Net in-migration of almost 2,000 people in last half of 2007.
2008 Expectations
- Real GDP forecast to decline by 2% due to lower offshore oil production.
- Capital investment expected to increase by 15%. Combined investment in oil and gas projects estimated to be $1 billion for 2008.
- Housing starts stable at 2,657 for the year.
- Employment expected to increase by 1.5%, adding another 3,300 jobs, and the unemployment rate is expected to decline to 12.4%, a further decrease of 1.2 percentage points.