Canada Housing Starts Top Expectations; Canada Housing Starts Came in at 198,185 Annual Rate In June 2014

Canada Housing Starts Top Expectations; Canada Housing Starts Came in at 198,185 Annual Rate In June 2014. This article appeared on the Wall Street Journal and was written by Don Curren.

Canadian housing starts advanced 0.6% in June from May to an annualized rate of 198,185 units, Canada Mortgage and Housing Corp. said Wednesday.

The results exceeded economists’ expectations, which were for annualized starts of about 190,000 units, according to CIBC World Markets. It said June marked the third straight month of housing starts close to 200,000 units, going “against the conventional reasoning that 2014 would bring with it the expected slowdown in the Canadian housing boom.”

Some analysts are still worried Canada’s housing market could suffer a sharp correction. Sustained strength in housing starts isn’t all positive from that point of view, because it suggests the market is not yet cooling down.

“The resiliency of the Canadian housing market has surprised expectations for a transition to lower, more sustainable levels and the latest monthly reading is no exception,” said a report from Royal Bank of Canada.

It said the recent outperformance of Canadian building permits and the persistence of low mortgage rates provide upside risk for new housing demand to remain elevated in the near term.

The recovery from earlier harsh weather distortions is expected to give way to levels of home-building activity that are closer in line with household formation in the coming months, RBC said.

“We remain of the view that recent robust levels of housing starts are unlikely to be maintained over the second half of the year and into 2015,” it added.

Last month’s results brought the six-month trend in housing starts to almost 186,000 units from slightly more than 184,000 units in May, CMHC said in Wednesday’s release.

In June, urban starts rose to 181,979 units, reflecting a decline in multiple starts but an increase in single-detached starts. Urban starts were up in Atlantic Canada and the Prairies but down in Quebec, Ontario and British Columbia, CMHC said.

National Bank Financial said the fact that June housing starts were tilted towards single-detached homes is encouraging news because it suggests a stabilization in the multiple sector–mainly condominiums– after earlier overbuilding in that category.

National Bank said single-detached units contribute more to economic growth than multiples, which bodes well for housing’s contribution to economic growth in the second quarter.

Kamloops Home For Sale: 3116-1040 Talasa Court, Paloma, Sun Rivers, B.C. $284,900

3116-1040 Talasa Court, Sun Rivers, Kamloops Home for saleKamloops Home For Sale: 3116-1040 Talasa Court, Paloma, Sun Rivers, B.C. $284,900. This two bedroom plus Den, two bath end unit in the “Award Winning” building of Paloma is situated on the ground floor and offers commanding city and mountain views.

This condo was designed with comfort and efficiency in mind. The home is tastefully appointed with charcoal themed laminate flooring, stainless steel appliances, granite countertops, tiled backsplash with glass accents, in suite washer and dryer, modern light fixtures, 9′ ceilings and blinds throughout. Take in the breathtaking views and sunny south-west exposure from the expansive patio space that offers the perfect setting to entertain or just relax.

Take advantage of the hassle free ownership and lock and leave lifestyle, there are no rental, age or pet restrictions; underground parking stall and storage locker are included. PPT exempt and Quick Possession is possible. Located in the heart of Sun Rivers Golf Resort Community, the Talasa development provides a unparalleled everyday resort style living.

Sun Rivers is located a short five minutes drive north east of Kamloops city centre. It is very easy to access two of the main highways through Kamloops making it easy to navigate around town as well as take that road trip.

Shopping is mainly located in the Sahali and Aberdeen areas as well as Downtown Kamloops. Sahali and Aberdeen shopping is a short seven to ten minute drive away.

Hoodoos Restaurant is located in Sun Rivers and offers a great menu of foods for you to choose from. There is also a gorgeous 18 hole golf course right at your doorstep. Enjoy the city views from each fairway of the golf course.

Sun Rivers is a great area to go walking and enjoying the views. There will eventually be a recreation facility with fitness centre. It is not constructed yet but should be up and running in a couple years.

To view all homes for sale in Kamloops click here.

Kamloops Home For Sale: 7-1555 Summit Drive, Sahali, B.C. $319,900

7-1555 Summit Drive, Sahali, Kamloops Home for SaleKamloops Home For Sale: 7-1555 Summit Drive, Sahali, B.C. $319,900. Gorgeous fully updated Sahali townhome with beautiful city views.

This home has been updated from top to bottom including on the main floor hardwood flooring throughout, new kitchen with quartz counters, large office off the main with hardwood, 2 piece powder room, modern gas fireplace in the bright living room. The living and dining room are nice and open with lots of windows.

The second level features two large bedrooms with vaulted ceilings, updated flooring, fully updated 4 piece bathroom. The bottom level has a gorgeous custom master suite with large bedroom and walk in closet with built ins, ensuite with large tiled shower and heated tile floors.

The bottom level also features laundry and storage for all your extras. There is a deck off of the sunken living room to enjoy the city views, and backs on to a private grassy area. Your fussy buyers will not be disappointed. Age restriction 12+.

Sahali is centrally located to many businesses, transportation and schools. This home is a short three minute drive to the local mall and big box stores. Public transportation is a short walk away only two blocks or five minutes.

There is a local Elementary school not too far away, approximately a five minute walk, the local highschool is a short bus ride to Sahali Secondary and Thompsons Rivers University is a short five minute drive away.

The Tournament Capital Centre is also a short five minutes drive as well making it close for many sports activities such as swimming, indoor track, gymnastics, work out facilities and sports fields.

Albert McGowan Park is close by to this home, it has a great water park for children in the summer and some slopes to toboggan on in the winter. There is also a local pond behind Albert McGowan School that often becomes a fun place to skate in the winter months. This greenspace is a short ten minute walk from this home.

There are also hiking trails right out of your back patio, great for getting some fresh air.

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Kamloops Home For Sale: 1185 Moray Street, Brocklehurst, B.C. $589,800

1185 Moray St Brocklehurst New Home for SaleKamloops Home For Sale: 1185 Moray Street, Brocklehurst, B.C. $589,800. Absolutely gorgeous custom home with nearly 2,000 square feet on the main floor and room for a detached shop.

This home has so many extras! The main floor features a large open great room floor plan with high vaulted ceilings, oversized kitchen with tons of storage, soft close cabinets and huge island, living room has beautiful views and high vaulted windows for lots of light.

There are 3 bedrooms on the main floor, the master bedroom has a large walk in closet and a 5 piece ensuite with jetted shower. There are 2 good sized spare rooms with built in window seats, the spare bathroom has double sinks and a nice sized bath tub. There is also main floor laundry with built in’s for storage.

The main floor also has a huge 24×14 covered deck off of the dining room, built in speakers in the living room, deck & master, built in’s for entertainment, gas fireplace, crystal light fixtures and engineered hardwood flooring throughout – no carpet!

The basement level has a large open foyer, lots of room for the whole family, a large bedroom off of the main entry way, rec room that leads to the back yard and hot tub, rough in for a wet bar or inlaw suite in rec room, 5th bedroom and another full bathroom. There is also extra storage which could become a 6th bedroom and lots of closet space. This home has 2 hot water tanks and a humidifier.

The garage is 23×23″6′ great for all the toys. There is also central a/c, central vac, fully fenced with in ground sprinklers, RV parking and second driveway off of Briarwood. You won’t be disappointed.

Brock has numerous grocery stores, retailers, professional offices and amenities close by. The Brock shopping centre, a mall located on Tranquille Road and Desmond Street has a Coopers grocery store, Pharmasave, Tim Hortons and numerous other small retailers. Brock is also close to Northills mall, Safeway and Canadian Tire which are located in North Kamloops. North Kamloops shopping is all within five to ten minutes of most Brocklehurst homes.

Brock has many activities for outdoors enthusiasts. There are a lot of hiking trails, a river’s trail and beach walks. A popular place for many dog owners is the long stretch on the beach of the Thompson River beside the airport. Often bald eagles and other wildlife can be spotted in this area.

The Kamloops Golf and Country Club is located on Tranquille road near the airport and approximately 10 kilometers from the downtown core. This 18 hole golf course is a traditional style golf course with generous tree-lined well-conditioned fairways.

There is a large dog park that many pet owners enjoy on Ord road were it intersects Tranquille Road.

McArthur Island Park is on the border of North Kamloops and Brocklehurst. Many Brock neighbourhoods have direct access to the park by way of the walking and biking paths. Many sports are enjoyed at this park, golf, soccer, football, baseball, and mountain biking can be viewed as you stroll around the perimeter of the park on the paved trail. There are 3.1 kilometers of paved walking trails in the park. There also is a skate park, mini golf, lawn bowling, youth centre and events centre on site.

Parkcrest Elementary School, Brock Middle School and North Kam Secondary School are the nearest schools to this home. There is a TRU express bus from Northills mall and regular bus service only one block from this home.


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