CMHC predicts new home starts double last year’s

Times Colonist- The number of new homes built in Greater Victoria will hit 2,100 by the end of the year — nearly double last year’s total — and then edge down slightly in 2011, says Canada Mortgage and Housing Corp.

"Housing starts are forecast to remain stable next year as builders and developers continue to make up for the low level of 2009 activity and respond to local economic growth and positive migration," Travis Archibald, senior market analyst for the federal agency, said yesterday.

New home starts will reach 2,000 next year, Archibald said in a fall outlook report. "Residential construction activity across Victoria will surpass the 10-year (2000-2009) annual average of 1,817 housing starts both this year and next…"

CMHC predicts new home starts double last year’s

Home building to slide further

Times Colonist-Home construction is expected to continue easing in the final quarter of this year before stabilizing in 2011, according to Canada Mortgage and Housing Corp.

The federal agency on Monday forecast housing starts to range between 176,700 and 194,700 units in 2010, and between 148,000 to 202,300 units next year as the market returns to “levels consistent with demographic fundamentals.”

“High employment levels and low mortgage rates will continue to support demand for new homes in 2011,” said CMHC chief economist Bob Dugan. “Nevertheless, housing starts will decrease to levels that are more in-line with long term demographic fundamentals next year…”

Home building to slide further

Multiple-unit starts in B.C. spark September rebound in new-home construction

The Vancouver Sun- B.C.’s residential housing construction continued to rebound in September with another boost in new-home starts as starts continued to slow on a nationwide basis, Canada Mortgage and Housing Corp. reported Friday.

Builders started work on 2,305 new homes in B.C. in September, bringing the province’s total starts to 17,791 for the first nine months of 2010, a 91-per-cent increase from the same period of 2009. However, September’s starts, extrapolated over 12 months, raised the pace of construction to 26,500 units on what economists call the seasonally adjusted annual rate…

Multiple-unit starts in B.C. spark September rebound in new-home construction

New-home prices fall in Victoria, up in Canada

Times Colonist- National new housing prices rose for the 11th straight month in May, advancing 0.3 per cent compared to the month before and in line with analyst expectations, Statistics Canada reported yesterday.

Prices slid, however, for new homes in Greater Victoria, which dropped 0.4 per cent in May from April, and down 3.9 per cent in May compared to the same month the previous year.

In the capital region, the number of unsold properties has reached 4,700 and sales slowed last month to 625.

Prices also fell month-over-month in Kitchener, Ont., down 0.8 per cent, Windsor, down 0.2 per cent and London, off 0.1 per cent.

Monthly gains were led by Regina, where prices advanced 3.4 per cent, and Toronto and Oshawa, where prices rose 0.7 per cent…

New-home prices fall in Victoria, up in Canada

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