Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2010 08:15 ET

Canada Mortgage and Housing Corporation: Oshawa Housing Starts Are Stronger Than Last Year

TORONTO, ONTARIO--(Marketwire - March 8, 2010) - Preliminary February figures released today by Canada Mortgage and Housing Corporation (CMHC) reveal that total new home starts in the Oshawa Census Metropolitan Area (CMA) were more than four times higher compared to February last year. Nevertheless, housing starts last month were below the long term historical average and were somewhat low relative to the number of sales in the second half of 2009. Single-detached homes continued to be the driving force behind the growth in new home construction.

"The economic downturn tempered demand for new homes in Oshawa last year. Faced with a relatively high level of unsold inventory, many developers have delayed opening new projects and starting construction work on presold homes. Over the past months, home sales have improved and the level of unsold inventory has returned to more normal levels. This should continue to encourage more projects launches and housing starts this year," said Inna Breidburg, CMHC's Market Analyst.

To view the Oshawa CMA Home Starts graph, please visit the following link: http://media3.marketwire.com/docs/cmh308OSH.pdf

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.

HOUSING STARTS - DURHAM REGION

FEBRUARY HOUSING STARTS
  SINGLE   SEMI   TH   APT TOTAL % CHG
  2009 2010 2009 2010 2009 2010 2009 2010 2009 2010  
Whitby 3 10 0 0 0 0 0 0 3 10 **
Oshawa City 11 49 0 0 0 0 0 0 11 49 **
Clarington 5 24 0 0 0 0 0 0 5 24 **
OSHAWA CMA 19 83 0 0 0 0 0 0 19 83 **
Pickering 4 3 0 0 0 0 0 0 4 3 -25.0
Ajax 14 14 0 0 0 4 0 0 14 18 28.6
Uxbridge 2 0 0 0 0 0 0 0 2 0 -100.0
Brock 0 0 0 0 0 0 0 0 0 0 NA
Scugog 0 0 0 0 0 0 0 0 0 0 NA
DURHAM REGION 39 100 0 0 0 4 0 0 39 104 166.7
 
JANUARY- FEBRUARY HOUSING STARTS
  SINGLE   SEMI   TH   APT TOTAL % CHG
  2009 2010 2009 2010 2009 2010 2009 2010 2009 2010  
Whitby 10 32 0 0 0 0 0 0 10 32 **
Oshawa City 25 107 0 0 0 0 0 0 25 107 **
Clarington 17 69 0 0 0 0 0 0 17 69 **
OSHAWA CMA 52 208 0 0 0 0 0 0 52 208 **
Pickering 5 8 0 0 0 0 0 0 5 8 60.0
Ajax 22 44 0 4 4 17 0 0 26 65 150.0
Uxbridge 2 0 0 0 11 0 0 0 13 0 -100.0
Brock 1 1 0 0 0 0 0 0 1 1 0.0
Scugog 1 3 0 0 0 0 100 0 101 3 -97.0
DURHAM REGION 83 264 0 4 15 17 100 0 198 285 43.9

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Contact Information

  • Durham:
    Canada Mortgage and Housing Corporation
    Inna Breidburg
    (416) 218-3425
    ibreidbu@cmhc.ca
    or
    En francais:
    Canada Mortgage and Housing Corporation
    David Lan
    (519) 873-2426
    dlan@schl.ca
    or
    Ontario:
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada:
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799
    csauriol@cmhc.ca