“An increase in residential housing starts combined with rising MLS® sales is expected in New Brunswick in 2010 after seeing reduced activity in both the new home and resale market in most provincial urban centres last year,” said Claude Gautreau, CMHC’s senior market analyst for New Brunswick. Housing activity during the first quarter of 2010 has yielded positive results as economic fundamentals in the province remained strong, highlighted by historically high employment levels. These conditions are expected to persist over the forecast period.

In New Brunswick’s three large urban areas – Saint John, Moncton and Fredericton – residential starts are expected to outpace last year’s totals. However, the anticipated increase in housing starts in 2010 and 2011 will be moderate. The existing home market is expected to follow the same general trend with steady price growth in both 2010 and 2011, combined with a moderate increase in sales.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

New Brunswick Housing Starts

“An increase in residential housing starts combined with rising MLS® sales is expected in New Brunswick in 2010 after seeing reduced activity in both the new home and resale market in most provincial urban centres last year,” said Claude Gautreau, CMHC’s senior market analyst for New Brunswick. Housing activity during the first quarter of 2010 has yielded positive results as economic fundamentals in the province remained strong, highlighted by historically high employment levels. These conditions are expected to persist over the forecast period.

In New Brunswick’s three large urban areas – Saint John, Moncton and Fredericton – residential starts are expected to outpace last year’s totals. However, the anticipated increase in housing starts in 2010 and 2011 will be moderate. The existing home market is expected to follow the same general trend with steady price growth in both 2010 and 2011, combined with a moderate increase in sales.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

Despite a slight slowdown, activity will remain solid on the Trois-Rivières census metropolitan area (CMA) residential real estate market in 2009 and 2010. In fact, transaction volumes will stay high on the resale market, as will housing starts, which will remain above the average levels for the last few years. The rental market, for its part, will continue to post a relatively low vacancy rate. Even though the job market will be sluggish, financing conditions, which will still be very favourable, combined with strong migration, will energize the market. Job market to stay sluggish
The economy in Trois-Rivières, like in several other areas around the province, was affected by the global economic crisis that has been prevailing for over a year now. Already, the regional economy had suffered from the surging loonie, which had severely tested manufacturing companies by undermining their competitiveness on the market. The ensuing decline in demand, as a direct result of the economic slowdown, only made things worse. Consequently, job losses have now been accumulating for four quarters in the Trois-Rivières CMA (with almost all the losses having been full-time positions), in pace with the announcements of layoffs and plant closings, which have increased. On the other hand, the area will benefit from the vitality of other sectors of the regional economy, including the non-residential

The $799,000 federal contribution to the project comes through Canada’s Economic Action Plan, the government’s plan to stimulate the economy and create jobs during the global recession. Recognizing the distinctive needs of the North, Canada’s Economic Action Plan provides $200 million, over two years, including $50 million for Yukon to support the renovation and the construction of new social housing units. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

“The Government of Canada is committed to providing a hand up to those who need it the most,” said Senator Lang. “We are helping make an important difference in the lives of children and youth in Whitehorse who are trying to build a better future for themselves.”

“Yukon Housing Corporation is dedicated to providing housing for Yukoners,” said Jim Kenyon. “This boost in funding towards the Children’s Receiving Home will help ensure a safe place for youth who need it.”

The Children’s Receiving Home is a temporary home for children and youth who have been removed from their families because of abuse or neglect, and who need a period of assessment and stabilization. The funding announced today will go toward the construction of the eight units in this new facility. The new facility will be 4,200 square feet in size and built to the Yukon’s Super GreenHome standard for maximum energy efficiency.

“Yukon government is very excited about the construction of the new children’s receiving home,” said Minister Hart. “The old facility was no longer adequate for current programming needs and we are looking forward to a new safe and healthy environment for the young people who will live there.”

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over the next five years, to improve and build new affordable housing and help the homeless.
More information on this and other measures in Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and protect those hit hardest by the global recession, can be found at: www.actionplan.gc.ca.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.

OTTAWA, August 11, 2009 — The seasonally adjusted annual rate of housing starts decreased to 132,100 units in July from 137,800 units in June, according to Canada Mortgage and Housing Corporation (CMHC).

“The slight decline in July’s housing starts is mostly attributable to the volatile multiple starts segment,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Although July registered a decline, housing starts are expected to improve throughout 2009.”

Over the next several years, housing starts will gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year.

The seasonally adjusted annual rate of urban starts decreased 5.5 per cent to 113,500 units in July. Urban multiple starts decreased nine per cent to 61,000 units, while urban single starts moved down 1.1 per cent to 52,500 units in July.

July’s seasonally adjusted annual rate of urban starts increased 16.6 per cent in Quebec. Urban starts declined 17 per cent in the Prairies, 15 per cent in Ontario, 10 per cent in British Columbia, and 1.4 per cent in Atlantic Canada.

Rural starts were estimated at a seasonally adjusted annual rate of 18,600 units in July.