Single-detached construction continues to support the new homes market in Metro Halifax as total housing starts are up by eight per cent after four months compared to last year. 

Total housing starts increased by 75 per cent in the month of April compared to last year due to another strong month of single-detached construction in Metro Halifax.  Much like last year, there was not a lof of multiples construction activity in April as there were no rental starts and only 27 apartment-style condo units started.  However, the storyline remains in the single-detached segment of the market as single starts were up by 47 per cent in the month in April and are now up by 45 per cent on year-to-date basis.  The 310 single starts thus far are just shy of the ten year average of 314 starts.

Total housing starts increased by 75 per cent in the month of April compared to last year due to another strong month of single-detached construction in Metro Halifax.  Much like last year, there was not a lof of multiples construction activity in April as there were no rental starts and only 27 apartment-style condo units started.  However, the storyline remains in the single-detached segment of the market as single starts were up by 47 per cent in the month in April and are now up by 45 per cent on year-to-date basis.  The 310 single starts thus far are just shy of the ten year average of 314 starts.

The average price of the 313 new homes sold between January and April was $341,581 (a 12 per cent increase) while the median price was $318,800 (a nine per cent increase).  The largest price increase for a new home was in Fall River-Beaver Bank where the average price for an absorbed single-detached home jumped by 23 per cent, going from $275,000 after four months in 2007 to $340,000.

To read entire article go to www.chmc.ca proceed to order desk and look for "Housing Now-Halifax CMA-Date Released: May 2008".