Housing Starts In St. John's, Newfoundland Strong in February

Housing starts in St. John's, Newfoundland were strong in February.  According to a CMHC release today, urban housing starts in Newfoundland increased during the month of February 2010.  There were a total of 68 this past month throughout the St. John’s area versus 45 starts in February of 2009.  

There were no additional starts recorded outside the St. John’s area.  “February’s brisk residential construction activity was attributed to a combination of continued demand and an unseasonably mild winter month,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.

He indicated that the local economic and demographic conditions continue to support new home construction throughout the St. John’s region and the first two months of 2010 indicate a solid start to the year.

Growth in housing starts throughout Canada’s urban centers continued to show strength as well.  The total housing starts increased 83 per cent with 10,361 recorded in February compared to 5,660 during February of 2009.  

Single-detached starts increased 107 per cent to 4,383, while multiple starts of 5,978 represent a 69 percent climb from a year ago.  Throughout Atlantic Canada, there were 430 urban housing starts posted versus 272 the previous February, an increase of 58 per cent. 

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About the Author: R. Greg Osmond is a Platinum Award winning Realtor dedicated to serving the people of St. John's, Mount Pearl, Paradise, Kilbride, Goulds, Conception Bay South (CBS), Portugal Cove-St. Philips, Torbay- Flatrock- Pouch Cove, and Logy Bay - Middle Cove - Outer Cove, Newfoundland and Labrador. For over 21 years Greg has been practicing in Real Estate. He can be reached at 709-895-2500.

Want to get in touch? Email rgosmond1@gmail.com. For more information, please visit http://www.rgregosmond.com. Thinking of selling your home? I have a passion for helping my clients with buying and selling real estate! If there is any way I can be of service to you today, please feel free to contact me!

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