Posts Tagged ‘manitoba’

Posted by Moishe Alexander

Funding for 40 new housing units for low-income seniors was announced today in Virden. The project, led by the Virden Centennial Housing Corporation, will include 19 one-bedroom units and 21 two-bedroom units. Construction on the project is expected to start this spring, and be completed in the spring of 2011.

Merv Tweed, Member of Parliament for Brandon – Souris, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with Brandon East MLA Drew Caldwell, on behalf of the Honourable Kerri Irvin-Ross, Minister of Housing and Community Development broke ground today at the project site.

Funding in the amount of $2.49 million has been made available for the project through Canada’s Economic Action Plan, the federal government’s plan to stimulate the economy and create jobs during the global recession. The federal and provincial governments are contributing equally to this initiative with an investment of $158 million under the amended Canada – Manitoba Affordable Housing Program Agreement.

“Through Year 2 of Canada’s Economic Action Plan, our Government remains committed to giving a hand-up to those who need it most here in Manitoba and throughout the country,” said MP Merv Tweed. “That’s why we’re investing in today’s project, which will deliver safe and affordable housing that meets the needs of seniors in Virden.”

“We’re providing seniors with the option to remain in their community surrounded by friends and family, and be able to find affordable housing there as well,” said Brandon East MLA Drew Caldwell. “This is an important project for the community of Virden and it’s great to work with such committed partners who want to see this project succeed.”

Funding from the governments of Canada and Manitoba will also support the development of geothermal heating and cooling.

Today’s announcement builds on the work of the Age — Friendly Manitoba Initiative to support seniors in leading active, socially engaged, independent lives that contribute to healthy aging. The initiative’s goal is to make Manitoba the most age-friendly province in Canada by working with the communities and the federal government to enhance the programs and services that benefit the well-being of all seniors.

Canada’s Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless.

The province, with the financial support of the Government of Canada, is making a two-year $327 million investment in social housing, and will create 1,500 more affordable homes over the next five years. As well, 1,500 households will benefit from renovations to their homes and 12,000 households will benefit from building improvements. HOMEWorks! supports ALLAboard, Manitoba’s Poverty Reduction Strategy, Aging in Place, and Manitoba’s Action Strategy for Economic Growth. It also provides vital links to community and economic development.

Housing starts are expected to rebound in the second half of 2009 and will reach 141,900 for the year. Starts will increase to 150,300 for 2010, according to Canada Mortgage and Housing Corporation’s (CMHC) third quarter Housing Market Outlook, Canada Edition* report. The overall forecast totals for housing starts remain unchanged from the second quarter release.

“Economic uncertainty and lower levels of employment tempered new housing construction in the first half of this year”, said Bob Dugan, Chief Economist for CMHC. “In the second half of 2009 and in 2010, we expect housing markets across Canada to strengthen.”

Improving activity on the resale market and lower inventory levels in both the new and existing home markets are expected to prompt builders to increase residential construction.

Existing home sales, as measured by the Multiple Listing Service (MLS®)1, have rebounded strongly since January and will reach 420,700 units in 2009 and remain close to that level at 419,400 units in 2010. The average MLS® price is expected to moderate to $301,400 in 2009 and to increase to $306,300 in 2010.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of 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.

* The forecasts included in the Housing Market Outlook are based on information available as of July 23, 2009. Where applicable, forecast ranges are also presented in order to reflect economic uncertainty.

1 The term MLS® stands for Multiple Listing Service and is a registered trademark of the Canadian Real Estate Association (CREA). Data are for 10 provinces.

Information on this release:

Charles Sauriol
CMHC Media Relations
613-748-2799

National Housing Outlook

Key Housing Market Indicators

2008
Actual
2009
Forecasts
2010
Forecasts
Total housing starts (units) 211,056 141,900 150,300
Total single-detached houses 93,202 68,400 72,450
Total multiple housing units 117,854 73,500 77,850
Total MLS® sales1 433,990 420,700 419,400
Average MLS® selling price ($) 303,607 301,400 306,300

Provincial Housing Outlook

Total Housing Starts

2008
Actual
2009
Forecasts
2010
Forecasts
Newfoundland and Labrador 3,261 2,950 3,000
Prince Edward Island 712 625 640
Nova Scotia 3,982 3,050 3,325
New Brunswick 4,274 3,285 3,500
Quebec 47,901 43,175 41,100
Ontario 75,076 48,675 50,000
Manitoba 5,537 4,000 4,300
Saskatchewan 6,828 3,750 4,150
Alberta 29,164 16,100 18,250
British Columbia 34,321 16,250 22,000

Welcome to the HomeZilla Real Estate Trends. As in previous months, we list the most searched provinces, top 10 most searched cities and top 10 most searched amenities.

HomeZilla’s Most Searched Provinces

1 Ontario
2 British Columbia
3 (+1) Nova Scotia
4 (-1) Alberta
5 Manitoba
6 (+1) New Brunswick
7 (-1) Quebec
8 (+2) Newfoundland
9 (-1) Saskatchewan
10 (-1) Prince Edward Island

HomeZilla’s Most Searched Cities

1 Toronto
2 (+1) Ottawa
3 (+1) Mississauga
4 (-2) Vancouver
5 (-) Quesnel
6 (-) Oshawa
7 (-2) Calgary
8 Brampton
9 (-) Winnipeg
10 (-) Whitby

HomeZilla’s Most Searched Amenities

1 Schools
2 (-) elementary schools
3 (-1) grocery stores
4 (+3) child care services
5 (-1) coffee shops
6 (-) high schools
7 (+2) banks
8 (-3) pubs
9 (-6) parks
10 (-) jr high schools

We hope you enjoy these March 2009 real estate trends and we look forward to your feedback!

Interesting report added by Moishe Alexander, CFC CEO