This past week Centrury 21 and CMHC released information on how the Altlantic Canada Housing is going to function.
Don Lawby, President and Chief Operating Officer of Century 21 Canada Limited Partnership, says housing markets continue to be driven by low interest rates and a strong economy that is providing job stability, consumer confidence and an increasing number of home buyers.
“I have never seen a market this strong, for so long, in so many markets across the country as I’ve seen in the past five years — and I have been in the real estate industry for over 30 years,” Lawby said.

“Furthermore, I can see nothing on the horizon that will change market direction. Past downturns in the market were usually caused by significant inflation leading to large increases in interest rates and people finding they could no longer sustain their skyrocketing mortgage payments. But nothing remotely like this is in sight today.”

The CENTURY 21 survey compared prices of typical homes at year-end 2004 with year-end 1999 and found healthy price increases in all regions of the country. Dartmouth Nova Scotia wa sin th running as a top preformer with a 63% increase in value.

In Atlantic Canada, housing markets in all the major cities, including Halifax, St. John’s, Fredericton and Charlottetown, will continue to see increases.

For the full REGIONAL press release click here
For the charts click here

CMHC #1 also release some housing start numbers too.
Nova Scotia’s housing market will remain below its recent peak in the residential real estate cycle in both 2005 and 2006. However, economic conditions are expected to be sufficiently healthy over the forecast period.

Total housing starts will edge higher from 4,717 units in 2004 to 4,750 units this year and decrease to 4,550 in 2006.
CMHC press release #2

T.H.

EMAIL Tim Harris with a comment

[GET ME OUTTA HERE! RETURN ME TO TRADEWINDS REALTY HOME PAGE ]