MONCTON, May 19, 2010 – Total housing starts in New Brunswick are expected to see a moderate rebound in 2010 following a province wide decline in 2009, according to Canada Mortgage and Housing Corporation’s (CMHC) Housing Market Outlook released today.
“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.
MONCTON, May 19, 2010 – Total housing starts in New Brunswick are expected to see a moderate rebound in 2010 following a province wide decline in 2009, according to Canada Mortgage and Housing Corporation’s (CMHC) Housing Market Outlook released today.
“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.
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.
