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Tuesday, October 11, 2011

New Housing Starts This Year In Saint John Remain Down

There was an increase in residential construction in the urban centres of this province in September with a total of 348 starts. This compares to 153 starts for the same period in 2010.

The increase is being attributed to significant gains in apartment starts in both Fredericton and Moncton but new housing activity in Saint John remains in the doldrums.

According to Canada Mortgage and Housing, local housing starts so far this year are off by 50 per cent as compared to the same time frame in 2010.