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Housing Construction in Halifax to Increase in 2015
May 25, 2015
0

According to Canada Mortgage and Housing
Corporation’s (CMHC’s) Spring Housing Market Outlook – Halifax report,
residential construction in the city is expected to increase in 2015 and
remain stable in 2016.

“Multiple starts are forecast to take the lion’s share of
construction activity in both 2015 and 2016, as the low vacancy rate in
new buildings and favourable interest rates stimulate construction
activity in the Halifax CMA,” said Guillaume Neault, Principal, Market
Analysis with CMHC’s Atlantic Business Centre.

“Inventory levels of unsold new homes will continue to impact
single-detached home starts in 2015 with 525 units expected. However,
demand will remain relatively stable for new single-detached homes
located in peripheral areas of Halifax CMA over the forecast period,”
added Neault.

“The resale market in Halifax is expected to remain in a buyers’ market in 2015 and as a result the average MLS®
house price will record no real growth. Sales, on the other hand, are
expected to increase slightly this year and next to 4,800 units,” said
Neault.

As Canada’s authority on housing, CMHC contributes to the
stability of the housing market and financial system, provides support
for Canadians in housing need, and offers objective housing research and
information to Canadian governments, consumers and the housing
industry.

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.

Follow CMHC on Twitter @CMHC_ca

Additional data is available upon request.

(Ce document existe également en français)

Contact Information

  • Market Analysis Contact:
    Guillaume Neault
    902-426-6815
    Cell: 902-221-1826
    gneault@cmhc.caMedia Contact:
    Katherine LeBlanc
    902-426-6581
    Cell: 902-789-5709
    krleblan@cmhc.ca

 

 

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