Wednesday, August 15, 2007

Housing starts cooling in 2007 and 2008

In Newfoundland, higher homeownership and construction costs and lower employment growth will dampen housing demand over the next two years. Housingstarts will move lower from 2,234 units in 2006 to 2,100 units in 2007followed by a decrease to 2,025 units in 2008. The average MLS(R) price inNewfoundland will rise by 0.7 per cent and 1.2 per cent in 2007 and 2008,respectively.
Full article on newswire

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