Posts Tagged ‘region’

Housing Starts in May – Moishe Alexander

Affordable Housing, Ontario, Quebec | Posted by admin
Jun 15 2010

The seasonally adjusted annual rate1 of housing starts was 189,100 units in May, according to Canada Mortgage and Housing Corporation (CMHC), down from a revised 201,800 units in April.

housing start - Moishe AlexanderMoishe Alexander points to Bob Dugan’s remarks. “Housing starts decreased in both the singles and the multiples segments in May,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The decrease in housing starts in May is consistent with our forecast that housing starts for 2010 will reach 182,000 units.”

The seasonally adjusted annual rate of urban starts decreased by 9.5 per cent to 165,200 units in May. Urban multiple starts decreased by 5.6 per cent to 92,800 units, while single urban starts decreased by 14.1 per cent to 72,400 units.

May’s seasonally adjusted annual rate of urban starts decreased 21.8 per cent in the Prairie region, 13 per cent in Quebec, 12.9 per cent in British Columbia, and 2.7 per cent in Ontario. Urban starts increased 23.3 per cent in Atlantic Canada.

Rural starts2 were estimated at a seasonally adjusted annual rate of 23,900 units in May.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. 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 vital decisions.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Comments Closed

Increased demand steadies housing market in Greater Vancouver

Affordable Housing, British Columbia, Canada, Uncategorized | Posted by admin
Jun 17 2009

A continued increase in buyer activity over the last four months has resulted in increased home sales and lessened the downward pressure on housing prices in Greater Vancouver.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 3,524 in May 2009, an increase of 17.4 per cent from the 3,002 sales recorded in May 2008, and an increase of 18.9 per cent compared to last month.

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.5 per cent to $506,201 from $484,211. However, home prices compared to May 2008 levels are down 10.9 per cent.

“The increased level of buyer activity over the last few months has had a stabilizing effect on home prices across our region,” Scott Russell, REBGV president said. “MLS® data continues to show a trend toward a balanced market in the region.”

New listings for detached, attached and apartment properties declined in Greater Vancouver, down 36 per cent to 4,733 in May 2009 compared to May 2008, when 7,390 new units were listed. At 13,641, the total number of property listings on the Multiple Listing Service® (MLS®) declined 4.7 per cent compared to last month and 16 per cent compared to May 2008.

Sales of detached properties increased 16.5 per cent to 1,402 from the 1,203 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 11.8 per cent from May 2008 to $680,320.

Sales of apartment properties in May 2009 increased 17.2 per cent to 1,458, compared to 1,244 sales in May 2008. The benchmark price of an apartment property declined 10.2 per cent from May 2008 to $349,987.

Attached property sales in May 2009 are up 19.6 per cent to 664, compared with the 555 sales in May 2008. The benchmark price of an attached unit decreased 9 per cent between May 2008 and 2009 to $435,848.

eater Vancouver in May 2009 compared to May 2008:

Detached:

Burnaby up 48.9 per cent (140 units sold from 94)

Maple Ridge/Pitt Meadows up 13.4 per cent (144 units sold from 127)

North Vancouver up 31.4 per cent (134 units sold from 102)

Port Moody/Belcarra up 52.6 per cent (29 units sold from 19)

Richmond up 14.0 per cent (170 units sold from 142)

Vancouver East up 11.1 per cent (180 units sold from 162)

Vancouver West up 59.5 per cent (193 units sold from 121)

Attached:

Burnaby up 31.5 per cent (96 units sold from 73)

Maple Ridge/Pitt Meadows up 43.8 per cent (46 units sold from 32)

North Vancouver up 31.8 per cent (58 units sold from 44)

Vancouver West up 54.5 per cent (102 units sold from 66)

Apartments:

Burnaby up 32.6 per cent (187 units sold from 141)

North Vancouver up 22.6 per cent (103 units sold from 84)

Richmond up 27.4 per cent (200 units sold from 157)

Vancouver East up 28.7 per cent (139 units sold from 108)

Vancouver West up 25.4 per cent (529 units sold from 422)

Information reviewed by Moishe Alexander, CFC CEO

http://www.realestatenorthshore.com/newsdetail-584.php

Tags: , , , , , , , , , , , , , , , , , , , , , , , , ,
Comments Closed

Canadian Funding Corp Reviews: New Women’s Shelter in York Region

Affordable Housing, Canada, Ontario | Posted by admin
Mar 25 2009

A celebration in Richmond Hill marks the opening of a new shelter for women in York Region. The shelter provides support for victims of family violence.

March 25, 2009 — Sandgate Women’s Shelter of York Region Inc. celebrated the acquisition of a property in Richmond Hill that will provide 10 emergency beds for women and children who are victims of family violence in south York Region.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said  Senator Nicole Eaton, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation. ”The creation of these new units will provide women and their children with access to safe housing and the support they need to help them to start a new page in their lives.”

Through Canada Mortgage and Housing Corporation (CMHC), the Government of Canada provided over $600,000 to Sandgate Women’s Shelter through SEED funding and the Shelter Enhancement Program. The SEP program assists in repairing, rehabilitating and improving existing shelters for women and their children, youth or men who are victims of family violence, and provides financial assistance for the acquisition or construction of new shelters and second-stage housing where needed.

This is Sandgate’s second shelter offering confidential 24-hour assistance to women and their children, including emergency crisis shelter, counselling, and transitional support and housing. The other location is Jackson’s Point.

“Abuse is a reality many women face silently,” said the Executive Director for Sandgate, Jehan A. Chaudhry. “The shelter in Richmond Hill will give women another choice to end abuse in their lives.”

Sandgate is a not for profit, charitable organization, that is dedicated to providing women and their children shelter, support and information so they can take steps to end violence in their lives.

The Canadian Funding Corporation notes that the CMHC has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.

Last fall, the Government of Canada committed more than $1.9 billion over the next five years for housing to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to $2 billion for housing-related infrastructure.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Comments Closed