Posts Tagged ‘Newfoundland’

Posted by Moishe Alexander

The lives of 18 individuals changed for the better today with the official opening of the Stella Burry Community Services’ new and much-anticipated housing project in Rawlins Cross.

The Honourable Peter MacKay, Minister of National Defence and Minister for the Atlantic Gateway, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), made the announcement today.

“The Government of Canada is proud to invest in initiatives that directly help people in our community access safe and suitable housing,” said Minister MacKay. “This project will provide safe and supportive housing and help individuals build a stronger future for themselves.”

The project has received federal funding from various initiatives to off-set construction costs. Funding by the Government of Canada, through CMHC, includes $905,000 under the Canada – Newfoundland and Labrador Affordable Housing Initiative and $216,000 through the Residential Rehabilitation Assistance Program. Stella Burry Community Services also received $348,900 from the Government of Canada homelessness funding and $20,000 in Seed Funding from CMHC during the initial planning stages.

Also, the General Council of The United Church of Canada contributed $250,000 toward the completion of the project. Incorporated under The United Church of Canada, Stella Burry Community Services provides programs in the community that reflect the social justice philosophies of the United Church.

“This is such an exciting day for us,” said Jocelyn Greene, Executive Director of Stella Burry Community Services. “From the beginning, the community, the city, our staff, our board members, as well as our federal and provincial partners have all been tremendously supportive of the entire project. I know it is because people relate to the work that we, as an organization, do in this community. We all firmly believe that everyone deserves an affordable and safe place to call home; that everyone deserves opportunity and supports to be the best person that they can be. A project such as this would not be possible without that strong, unified support, for which we are incredibly grateful and blessed.”

“We are extremely proud of the work that is being carried out by Stella Burry Community Services, and are delighted to contribute to this wonderful project in St. John’s,” said Mardi Tindal, Moderator of The United Church of Canada. “The availability of affordable housing has been a persistent concern of The United Church of Canada and our record of advocacy on issues relating to housing and homelessness is well known. The leadership shown by Stella Burry Community Services to increase the availability of housing for low income individuals in the St. John’s region is to be commended as we celebrate the opening of this beautiful building today,” she added.

Last fall, the Government of Canada committed more than $1.9 billion over the next five years 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 another $2 billion to municipalities for housing-related infrastructure.

Posted by Moishe Alexander

Resilient consumer spending, large capital projects
and improved employment will continue to support the St. John’s region housing market
throughout the remainder of 2009 and in 2010, according to Canada Mortgage and
Housing Corporation’s (CMHC’S) Housing Market Outlook – St. John’s report released
today.
Housing starts are expected to end 2009 at 1,675 units, with 1,800 starts forecast for
2010. The resale or MLS®1 market will post 3,450 sales by the end of this year and reach
the 3,575 level in 2010. The average MLS® house price is expected to end 2009 at
$215,500 compared to $187,571 in 2008 and increase to $225,500 in 2010.
“Despite the recent global economic uncertainty, strong fundamentals will continue to
support demand for housing throughout the remainder of 2009 and in 2010,” said Chris
Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Overall, the
positive outlook for the St. John’s area housing market will be reinforced by favourable
trends in demographic and economic fundamentals, as well as on-going economic
momentum fuelled by a lengthy list of major capital projects,” added Janes.
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.

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