Newfoundland housing starts soared in November, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). November’s total housing starts soared 33 per cent, with 189 posted across provincial urban centres versus 142 a year ago. Of the 189 starts, 177 occurred within the St. John’s real estate metro area compared to 121 last November, an increase of 46 per cent. To date, provincial urban housing starts total 1,631, up 18 per cent over the first eleven months of 2006. “November’s total urban housing starts mark six consecutive months of sustained growth in residential construction compared to the same period last year,” said Chris Janes,
Senior Market Analyst with CMHC in Newfoundland and Labrador. “Solid demographic and economic fundamentals paired with high consumer confidence, continued to drive the demand for newly built homes during the month,” added Janes. For Canada’s urban centres, total housing starts fell five per cent to 17,077