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Edmonton housing starts set to plunge: CMHC
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8 a7 L* k$ M# l4 L7 U; t: \Bill Mah, edmontonjournal.com0 A$ _& X. p: g/ [" S1 {: L0 |' K
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埃德蒙顿今年的建房将比去年减少47.9%,全省将比去年降三分之一。阿尔伯塔是七个省份中新建房降低最多的省。' D; H1 z! P. N5 O% \3 d2 `+ d+ B
; H' f' c# b) n$ P1 kEDMONTON - Housing starts in Edmonton will plunge by about 47.9 per cent this year compared to last, says a new national forecast by the Canada Mortgage and Housing Corporation released today.
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Single-detached houses started in the city will plummet by 57.7 per cent to 3,250 homes, compared to the 7,682 built last year, said the federal agency's third-quarter housing market outlook.+ b0 O9 \7 O, y. c2 K; V
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Provincially, housing starts in Alberta will fall by nearly one third in 2008 from last year, said the report.
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% |$ x, @, r; W/ h# U/ P) j0 LAlberta's drop-off will be the biggest among the seven provinces where fewer homes are predicted to be built.
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' C v6 r3 g+ }9 m/ _2 jAlberta's total housing starts will decline by 15,586 homes, a 32-per-cent plunge to 32,750 starts from the 48,336 in 2007.! a1 B9 s4 Y @4 e% h3 T1 k
4 v! j# r% _( ["Single-detached starts will fall to a 12-year low in 2008 as builders cope with weaker net migration, an overhang of unoccupied new units, and relentless competition from an oversupplied resale market," said the report.
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9 D) r& [, f' Y: o8 \7 W9 d"Rapid price growth from previous years will also cut into demand."2 a; R, _+ ]& Y. O* ?% B
It predicts a 43-per-cent drop in single-starts before the market recovers slightly in 2009.
Y! H6 [: o9 J7 e8 t+ u; jThe CMHC forecasts Alberta's multi-family starts will outperform the single-detached market for the first time in 26 years.' ~. ~8 c+ R: J! z6 H# g; G+ U
" M1 B( j4 B. U) HIt predicts 16,750 units will begin construction this year, before falling again to 12,000 in 2009.
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Resales will fare little better as the report estimates existing home sales will drop in Alberta by 20 per cent, the sharpest decline since 1982. The average resale price will increase by one per cent this year as market conditions favour the buyer, it says.8 t3 {" S/ o7 T4 }
) ?5 M+ U2 n Y) ^$ p- w# K2 D- v"Look for a gradual shift to more balanced conditions in 2009, resulting in modestly higher price growth of three per cent."
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! G+ m5 L& e- J+ K4 q4 p/ WIn the Edmonton census metropolitan area, Multiple Listing Service sales are expected to fall to 16,500, down from 20,427 last year. In 2009, sales are predicted to rebound to 17,000.
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The average MLS sale price in Edmonton is forecast to rise to $340,000 from last year's $338,636. In 2009, the average MLS price will rise again to $352,000. |
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