ST. JOHN'S, Oct. 8 /CNW/ - Urban housing starts increased during the
month of September, according to preliminary data(1) 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.
Canada Mortgage and Housing Corporation conducts a monthly survey of
housing construction in urban centres of Canada with a population of
50,000 and over.
(1) Figures for the most recent month are preliminary and subject to
revisions due to corrections or updates from quarterly enumeration or
sampling results.
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PRELIMINARY URBAN MONTHLY HOUSING STARTS NEWFOUNDLAND & LABRADOR
SUMMARY
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2008 2007 YEAR-TO-DATE
--------------- % Change --------------- % Change
SEP SEP 2008 2007
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ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
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ST. JOHN'S CMA
Single 162 133 21.8% 1,029 814 26.4%
Multiple 47 45 4.4% 259 232 11.6%
TOTAL 209 178 17.4% 1,288 1,046 23.1%
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ALL URBAN CENTRES WITH POPULATION (greater than)10,000
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ALL CENTRES(*)
Single 207 171 21.1% 1,251 1,018 22.9%
Multiple 61 56 8.9% 329 273 20.5%
TOTAL 268 227 18.1% 1,580 1,291 22.4%
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Figures for the most recent month are preliminary and subject to
revisions due to corrections or updates from quarterly enumeration or
sampling results.
(*) Includes all centres with a total population of more than 10,000
(St. John's CMA, Corner Brook CA, Gander CA, Grand Falls/Windsor CA,
Bay Roberts CA and Labrador City CA)
(xx) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.
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PRELIMINARY QUARTERLY HOUSING STARTS NEWFOUNDLAND & LABRADOR SUMMARY
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2008 2007 YEAR-TO-DATE
--------------- % Change --------------- % Change
Q3 Q3 2008 2007
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ALL URBAN CENTRES WITH POPULATIONS (greater than) 10,000
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ST. JOHN'S CMA
Single 520 417 24.7% 1,029 814 26.4%
Multiple 140 106 32.1% 259 232 11.6%
TOTAL 660 523 26.2% 1,288 1,046 23.1%
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BAY ROBERTS CA
Single 36 16 (xx) 55 30 83.3%
Multiple 0 0 - 0 0 -
TOTAL 36 16 (xx) 55 30 83.3%
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CORNER BROOK CA
Single 31 28 10.7% 51 43 18.6%
Multiple 4 0 - 4 8 -50.0%
TOTAL 35 28 25.0% 55 51 7.8%
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GANDER CA
Single 46 26 76.9% 67 54 24.1%
Multiple 4 4 0.0% 12 10 20.0%
TOTAL 50 30 66.7% 79 64 23.4%
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GRAND FALLS/
WINDSOR CA
Single 33 19 73.7% 49 43 14.0%
Multiple 28 18 55.6% 54 23 (xx)
TOTAL 61 37 64.9% 103 66 56.1%
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LABRADOR CA
Single 0 34 (xx) 0 34 (xx)
Multiple 0 0 - 0 0 -
TOTAL 0 34 (xx) 0 34 (xx)
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ALL CENTRES(*)
Single 666 540 23.3% 1,251 1,018 22.9%
Multiple 176 128 37.5% 329 273 20.5%
TOTAL 842 668 26.0% 1,580 1,291 22.4%
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Figures for the most recent month are preliminary and subject to
revisions due to corrections or updates from quarterly enumeration or
sampling results.
(*) Includes all centres with a total population of more than 10,000
(St. John's CMA, Corner Brook CA, Gander CA, Grand Falls/Windsor CA,
Bay Roberts CA and Labrador City CA)
(xx) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.For further information:
Chris Janes, Senior Market Analyst - NL
Telephone: 709-772-2403; Email: cjanes@cmhc.ca
For further information: Chris Janes, Senior Market Analyst, Canada
Mortgage and Housing Corporation, NL, (709) 772-2403, cjanes@cmhc.ca
