Banner - Halifax Index - aGREATERhalifax

Consumer Behaviour

RETAIL SALES

Halifax's retail sectors saw continued strong growth in 2012, increasing 5.1% to $6.9 billion. This growth was well above the Canadian average of 4.1% and ranked third among benchmark cities. 

HOUSING STARTS AND SALES 

Housing activity in Halifax was strong in 2012. Total housing starts were over 2,700, down slightly from 2011. Among its benchmark cities, Halifax had the third-highest number of housing starts. Looking deeper at Halifax’s housing market, single-unit housing starts increased by 10.9%, while multiple-unit starts decreased by 14.5%.

RETAIL SALES, CMAs, $MILLIONS
Source: Conference Board of Canada

RETAIL_GRAPH1A-01

HOUSING PRICES

Halifax's average price growth for both new and existing housing increased in 2012. The average price of a new house in Halifax increased by 6.6% to nearly $427,000 – third highest among benchmark cities. Peninsular Halifax ($565,000) and Bedford-Hammonds Plains ($503,000) were the highest-priced regions, while Halifax County East ($270,000) and Dartmouth ($328,000) were the cheapest.

The average selling price for an existing house in Halifax increased a more modest 3.7% in 2012 to just under $269,000. This put Halifax fourth among its five benchmark cities. Bedford-Hammonds Plains ($352,000) and peninsular Halifax ($323,000) were the most expensive regions, while Halifax County East ($200,300) and Sackville ($219,000) were the least expensive. The average time on the market for houses in 2012 dropped to 87 days from 95 days in 2011. 

 

CONSUMER_MEANPRICE_GRAPH-01

Source: Canadian Mortgage and Housing Corporation


HOUSING STARTS AND RESIDENTIAL SALES, CMAs
Source: Canadian Mortgage and Housing Corporation

HOUSING_GRAPH1-01

PARTNERS

Email footer