HALIFAX, NOVA SCOTIA--(Marketwire - June 14, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC's) Spring Housing Market Outlook - Halifax report, positive economic growth and higher levels of migration will result in increased demand for housing in Halifax over the forecast period.
"Increases in economic growth and employment, along with positive migration to the city will support demand for all types of housing in Halifax over the forecast period," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre.
"In the new homes market, single-detached starts are forecast to increase more than 20 per cent in 2012 before climbing another nine per cent in 2013 to 1,200 units. On the multiples side, following a strong 2011, apartment starts are expected to decrease in both 2012 and 2013. Despite the decline, apartment starts are forecast to remain at or above the current ten-year average," said Gilmore. In the existing homes market, MLS® sales will increase nearly eight per cent this year to 6,400 sales. In 2013, anticipate growth of another 1.6 per cent to 6,500 units.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.
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.
MLS® is a registered trademark of the Canadian Real Estate Association.
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Contact Information:
(902) 426-4686
mgilmore@cmhc-schl.gc.ca
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