Housing demand in Halifax to stabilize
HALIFAX, NOVA SCOTIA`(Marketwire ` Nov. 5, 2012) - According to Canada Mortgage and Housing Corporation`s (CMHC`s) Fall Housing Market Outlook ` Halifax report, moderate economic growth and positive net migration will result in continued demand for housing in Halifax over the forecast period.
`Positive net migration, employment growth and moderate increases in economic activity will result in continued demand for all types of housing in the HRM over the forecast period,` said Matthew Gilmore, senior market analyst with CMHC`s Atlantic Business Centre.
`In the new home construction market, single-detached starts are expected to increase 11 per cent in 2012 to 1,000 units before climbing to 1,050 units in 2013. On the multiples side, coming off of a strong 2011, expect apartment starts to decline to 1,200 units this year before increasing to 1,300 in 2013,` said Gilmore.
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