Construction/Building — November 5, 2012Housing Starts to Decrease in Charlottetown
MONCTON, NEW BRUNSWICK--(Marketwire - Nov. 5, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC's) Fall Housing Market Outlook - Charlottetown report, residential construction in Prince Edward Island's largest urban centre is expected to increase slightly in 2012 before declining in 2013.
"An increase in multiple starts in Charlottetown will result in more total housing starts in 2012," said Jason Beaton, CMHC's Market Analyst for Prince Edward Island. Single starts are expected to remain essentially unchanged in 2012 compared to 2011, while multiple starts will exceed the level set last year. The decline in multiple starts in 2013 will result from a rising vacancy rate and reduced levels of international immigration.
The forecast for the resale market calls for an essentially flat level of MLS® sales and limited price growth through the end of 2013. "The Charlottetown area has averaged 550 sales for the past six years, and the current forecast is for both 2012 and 2013 to be very near that level," added Beaton. Price growth will also record limited gains in both 2012 and 2013, as an ample supply of listings will result in more choice for prospective buyers.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.
MLS® is a registered trademark of the Canadian Real Estate Association.
Additional data is available upon request
(Ce document existe également en français)
Latest Industry Press Releases
New Women's Centre Officially Opens in Labrador (2013-05-24)
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 515 projects with a total value of $3,642,725,048 that Reed Construction Data Building Reports reported on Friday.
$47,000,000 Metro Toronto Reg ON Tenders
$40,000,000 Ottawa ON Negotiated
$34,000,000 East Gwillimbury ON Prebid
- Ex-Canadian military bases can be transformed
- Shop and Sleep
- Martin remembered for infectious laugh and mentorship
- Staffing levels and safety drive Ontario elevator worker strike
- Proposed wood-frame use meets opposition
- Provincial MPP supporters of prompt payment legislation excited at prospects
- Concrete airplane in South Dakota takes flight
- Opposition tackle Harper government on lack of youth employment
- Construction Site Arson
- VIDEO: Journal of Commerce Update for the week of May 27th, 2013
- Commercial Construction
- Ruling vindicates company that hired Chinese workers
- Acetylene torch explosion causes significant damage
- Investigation continues in deliberate Vancouver duplex fire
- Ancient First Nations site damaged during BC Hydro work
- On Target
- Global engineering guidelines taking shape
- Fit to Work program being developed
- Dire prediction
- Canada and Ireland sign recognition agreement