Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 30, 2014 08:15 ET

Housing Starts and Sales in Atlantic Canada Will Decline Further Until 2016

HALIFAX, NOVA SCOTIA--(Marketwired - Oct. 30, 2014) - According to Canada Mortgage and Housing Corporation's (CMHC's) Quarterly Housing Market Outlook - Atlantic report, housing starts in Atlantic Canada are expected to decline 20 per cent in 2014 and eight per cent in 2015, before recovering modestly in 2016, with a four per cent increase.

"Moderate economic growth close to one per cent and continuing negative net migration, will result in lower demand for housing, leading to fewer housing starts and sales in Atlantic Canada in 2014 and 2015," said Alex MacDonald, Regional Economist with CMHC's Atlantic Business Centre. "By 2016, an improving economic outlook will support a modest increase in housing starts of four per cent and relatively stable MLS® sales activity."

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.

Follow CMHC on Twitter @CMHC_ca

MLS® is a registered trademark of the Canadian Real Estate Association.

Additional data is available upon request.

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Contact Information

  • Market Analysis Contact:
    Alex MacDonald
    902-426-8964
    Cell: 902-483-9483
    amacdona@cmhc.ca

    Media Contact:
    Caroline Arsenault
    902-426-8127
    Cell: 902-452-4448
    cmarsena@cmhc.ca