Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2010 08:15 ET

Canada Mortgage and Housing Corporation: February Housing Starts Higher in St. Catharines-Niagara

TORONTO, ONTARIO--(Marketwire - March 8, 2010) - Preliminary data for February 2010 released today by Canada Mortgage and Housing Corporation (CMHC) for the St. Catharines-Niagara Census Metropolitan Area1 (CMA) show an increase in housing starts to 69 units, almost double the 35 units begun in the same month last year.

February marked the fifth consecutive month of starts equal to or higher than their level a year ago. Builders poured foundations for more single-detached homes and townhouses, 33 and 34 units respectively. As in the previous month, five rental townhouse units were started in the City of St. Catharines. January-February home starts were up a strong 72 per cent from the unusually low number recorded in the same period last year. Across municipalities, new home construction was lower only in Niagara-on-the-Lake, where starts were strong last year.

"Housing demand which remains unsatisified due to the tightness of the existing home market is spilling over to the new home market," said Ashot Karapetyan, Market Analyst with CMHC. "After the inventory of unsold homes ran low in the last quarter of 2009, builders are replenishing their stocks this year," added Karapetyan.

To view the map associated with this release, please visit the following link: http://media3.marketwire.com/docs/SC38m.pdf

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/sc38g.pdf

1 Statistics Canada defines a census metropolitan area (CMA) as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000 of which 50,000 or more must live in the urban core.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

For more information, please visit www.cmhc.ca or call 1-800-668-2642.

TABLE 1: MONTH OF FEBRUARY                        
  Single-Detached   Semi-Detached     Row     Apartment   Total    
Municipality 2009 2010 %   2009 2010 %   2009 2010 %   2009 2010 % 2009 2010 %  
Fort Erie 4 4 0 % 0 0 *   0 0 *   0 0 * 4 4 0 %
Port Colborne 0 0 *   0 0 *   0 0 *   0 0 * 0 0 *  
Wainfleet 0 1 *   0 0 *   0 0 *   0 0 * 0 1 *  
Pelham 1 2 100 % 0 0 *   0 0 *   0 0 * 1 2 100 %
Welland 1 3 200 % 0 0 *   5 0 *   0 0 * 6 3 -50 %
Thorold 0 2 *   2 0 *   0 0 *   0 0 * 2 2 0 %
Niagara Falls 5 12 140 % 0 2 *   0 0 *   0 0 * 5 14 180 %
Niagara-on-the-Lake 2 4 100 % 0 0 *   0 0 *   0 0 * 2 4 100 %
St.Catharines 1 1 0 % 0 0 *   11 8 -27 % 0 0 * 12 9 -25 %
Lincoln 3 4 33 % 0 0 *   0 26 *   0 0 * 3 30 900 %
St.Catharines-Niagara CMA 17 33 94 % 2 2 0 % 16 34 113 % 0 0 * 35 69 97 %
Grimsby 5 23 360 % 0 0 *   0 0 *   0 0 * 5 23 360 %
West Lincoln1 * * *   * * *   * * *   * * * * * *  
Niagara Region2 22 56 155 % 2 2 0 % 16 34 113 % 0 0 * 40 92 130 %
TABLE 2: YEAR-TO-DATE (JANUARY-FEBRUARY)                            
  Single-Detached   Semi-Detached     Row     Apartment   Total    
Municipality 2009 2010 %   2009 2010 %   2009 2010 %   2009 2010 % 2009 2010 %  
Fort Erie 10 8 -20 % 0 0 *   0 7 *   0 0 * 10 15 50 %
Port Colborne 1 1 0 % 0 0 *   0 0 *   0 0 * 1 1 0 %
Wainfleet 0 2 *   0 0 *   0 0 *   0 0 * 0 2 *  
Pelham 2 7 250 % 0 0 *   0 0 *   0 0 * 2 7 250 %
Welland 4 14 250 % 0 0 *   10 0 *   0 0 * 14 14 0 %
Thorold 1 6 500 % 2 0 *   0 0 *   0 0 * 3 6 100 %
Niagara Falls 8 32 300 % 0 2 *   0 0 *   0 0 * 8 34 325 %
Niagara-on-the-Lake 2 10 400 % 0 0 *   18 0 *   0 0 * 20 10 -50 %
St.Catharines 5 6 20 % 2 4 100 % 20 36 80 % 0 0 * 27 46 70 %
Lincoln 5 11 120 % 0 0 *   10 26 160 % 0 0 * 15 37 147 %
St.Catharines-Niagara CMA 38 97 155 % 4 6 50 % 58 69 19 % 0 0 * 100 172 72 %
Grimsby 6 33 450 % 0 0 *   0 0 *   0 0 * 6 33 450 %
West Lincoln1 * * *   * * *   * * *   * * * * * *  
Niagara Region2 44 130 195 % 4 6 50 % 58 69 19 % 0 0 * 106 205 93 %
Source: CMHC
*Not applicable
**Year -over -year change greater than 1000 per cent
1Housing starts data for W est Lincoln are collected and reported only on a quarterly basis (i.e. in March, June, September, December)
2Housing starts data for Niagara Region are accurate at each end-of-quarter month and understated in other months due to reporting conventions used for W est Lincoln as described in the note (1) above

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Contact Information

  • Canada Mortgage and Housing Corporation
    Local: Ashot Karapetyan
    (416) 250-3234
    akarapet@cmhc.ca
    or
    Canada Mortgage and Housing Corporation
    En francais: David Lan
    (519) 873-2426
    dlan@cmhc.ca
    or
    Canada Mortgage and Housing Corporation
    Ontario: Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada Mortgage and Housing Corporation
    Canada: Charles Sauriol
    (613) 748-2799
    csauriol@cmhc.ca