Posted Aug 12, 2008, 3:43 AM
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♒︎ Empirically Canadian
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Join Date: Mar 2004
Location: 🍁 Canada
Posts: 12,035
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The St. John's housing market is still hot:
Quote:
Can't Build 'em Fast Enough - Aug 11, 2008
Canada Mortgage and Housing says the demand for new homes in the St.John's area has reached an exceptional level. So far this year, there have been about 100 more housing starts in the province over this time last year, an increase of 12 per cent. Of the 959 housing starts, 830 were in the St.John's metro area. Chris Janes, senior market analyst with CMHC, says a bustling local economy, positive net-migration to the area and stable consumer confidence have been the key factors to date. Janes says new-home construction is limited only by the number of builders available, due to a very tight labour market for skilled trades, especially plumbers and electricians. Prices are up by about 20 per cent over 2007, and he expects prices to be another 15 per cent or so higher by this time next year.
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http://www.vocm.com/news.asp?Category=Newfoundland
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