The Halifax housing market will take a bit of a dip next year, according to a report released this week by a real estate and consulting firm. Citing an expected decrease in apartment starts in Halifax, along with relatively slow job growth, weak gross domestic product and stagnant migration numbers, the Altus Group is predicting about 700 fewer housing starts in 2012 than the 2,800 expected by the end of this year.
But that prognosis is not limited to Halifax or the rest of the province, but to the entire region as well. “The single family will probably be pretty steady next year, but modestly lower housing starts on the multi-family housing side, in particular, as this surge of activity comes through the pipeline,” Altus Group chief economist Peter Norman said in an interview from Toronto.............................................Full Article: Source
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