Metro Moncton housing growth tops in Canada

12/21/2012

Canada Mortgage and Housing Corporation has released its 10th annual Review of the State of Housing in Canada, and Metro Moncton has once again distinguished itself nationally.

The Moncton census metropolitan area had the highest rate of household growth of major urban centres from 2006 to 2011, followed by Kelowna, St. John’s, Calgary and Edmonton.

The number of households rose from 51,593 in 2006 to 58,294 in 2012, a 13 per cent increase at a time when New Brunswick overall saw only six per cent growth in households.

Moncton and St. John’s were the only Atlantic cities to break the top 10. The region’s other two metropolitan areas, Saint John and Halifax, ranked 19th and 20th respectively.

The news comes the same week CMHC’s fall report shows Metro Moncton is leading the way in New Brunswick for new housing starts as well as in apartment construction.

Upon hearing of this latest distinction Wednesday, Mayor George LeBlanc said “it fits nicely with Moncton being chosen the best place to buy a home,” referring to a number of publications’ and organizations’ findings. Most recently, Metro Moncton was featured in the November issue of Canadian Real Estate Wealth magazine, which highlighted Canada’s top 100 neighbourhoods, defined as communities most likely to avoid an expected correction in the Canadian real estate market.

The magazine listed Moncton’s average house price at $150,640 as a reason the city was included, and cited affordability, a buyer’s market with big discounting opportunities and the fact it is one of the top five growth centres in the country.

According to Statistics Canada, Moncton is the fifth-fastest growing of all the metropolitan areas in Canada, at 9.7 per cent between 2006-2011. It is the only metropolitan area east of Saskatchewan in the top 10.

Reasons normally given for explaining the growth are the tri-community’s stable and diversified economy, with active industries ranging from traditional transportation, distribution and retailing to educational, health care, financial, information technology and insurance sectors.

This latest CMHC report follows a long line of other distinctions the city has earned in recent years. In 2012, KMPG ranked Moncton as the lowest-cost location for business in Canada.

Canadian Business Magazine has ranked Metro Moncton among Canada’s top 10 best places to do business for four consecutive years, while MoneySense this year named it among Canada’s top 10 best places to live for the second consecutive year.

It was identified as one of Canada’s best cities in which to retire by 50+ Magazine.

Moncton has also been recognized by Readers Digest as the most polite and honest city in Canada, as well as one of the happiest.

Chatelaine recently named Moncton as one of the best places to live and work in Canada.

by brent mazerolle

times & transcript staff