Construction/Building — November 5, 2012
Housing Starts to Decrease in CharlottetownMONCTON, 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.
For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.
MLS® is a registered trademark of the Canadian Real Estate Association.
Additional data is available upon request
(Ce document existe également en français)
Contact Information
Market Analysis Contact:
Jason Beaton
506-851-6047
Cell: 506-874-3989
jbeaton@cmhc.ca
Media Contact:
Patricia Montreuil
506-851-2229
Cell: 506-866-8047
pmontreu@cmhc.ca
Latest Industry Press Releases
Updated 14:01 EDT, May 21, 2013 
Construction/Building
ATCO Emissions Management at the 2013 WEPower Generation Forum (2013-05-17)
Black Diamond Group Limited Announces May Dividend (2013-05-17)
Retrocom Announces Extension of Relationship With SmartCentres (2013-05-17)
ATCO Awarded A$100 Million Subcontract on Wheatstone Project (2013-05-16)
CEMATRIX Corporation Announces Record First Quarter Sales for the Quarter Ended March 31, 2013 (2013-05-16)
GTA Realtors(R) Release Mid-Month Resale Housing Figures (2013-05-16)
Retrocom Announces Opening of Four New Canadian Tire Group Stores at Southland Mall (2013-05-15)
Empire Industries Announces Private Placement and Creation of a 51% Controlled Chinese Joint Venture Company (2013-05-15)
CanWel Announces Election of Directors (2013-05-14)
CAHPI BC Home Inspectors Donate to BC Children's Hospital Foundation (2013-05-14)
CEMATRIX Corporation Announces $1.2 million Of New Contracts (2013-05-14)
| MOST POPULAR STORIES |
- OPG $1 billion proposal to bury nuclear waste up for comment
- Hundreds of workers to be out of work as Caterpillar Inc. is set to close Toronto factory
- Proposed Ambassador Bridge twinning draws Windsor mayor’s ire
- Construction on pedestrian tunnel to Billy Bishop Airport continues to make progress
- Ontario prompt payment bill to get second reading today
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 316 projects with a total value of $2,787,806,637 that Reed Construction Data Building Reports reported on Friday.
SENIORS CONDOMINIUM APARTMENT & OFFICE BLDG
$90,000,000 Richmond Hill ON Prebid
$82,000,000 White River Twp ON Tenders
CONDOMINIUM APARTMENT BUILDING
$40,650,000 Markham ON Prebid
| CURRENT STORIES |
- VIDEO: Economic Update May 21, 2013
- VIDEO: Competing in the trades
- Multi-employer approach needed in apprenticeships
- New Perspective
- ACEC’s input helps develop global engineering guidelines
- Clerk of works position gives peace of mind on projects
- World Trade Center developer’s plan for a 926-foot tower moving ahead
- Call for action after MOL says workers are responsible for their own safety
- Cold spring and weak construction hurt Deere’s 2013 predictions
- CanBIM reschedule June session
- More green roofs top Toronto buildings
- Witness recants testimony in Montreal corruption case
- Construction Site Arson
- Journal of Commerce Update for the week of May 20th, 2013
- Industry reacts to surprise B.C. Liberal majority
- Calgary Airport Tunnel
- Worker at centre of union sign up allegations speaks out
- Calgary program aims to get more people into the trades
- Midrise in the City
- Veterans battle barriers into the trades
- Government makes changes to online tendering
- SNC-Lavalin maintains that new bribery allegations have been resolved
- B.C. faces a tough battle for top talent
- Keyano College building state of the art training facility
- Essential skills can play a vital role in an apprentices' success
- Taking a closer look at the risks in green building for contractors
- Colleges conduct construction research in addition to teaching
- Skills Canada BC Competition
- Lower Mainland high school trades program is unique
- Construction Learning Forum aims to educate
- High schools looking for more industry participation
- Industrial construction supervisor program takes off
- Saskatchewan bill passed
- Edmonton garners support for regional cash for arena
- Feds pledge $5 million for Vimy memorial
