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 Kitchener

TORONTO, ONTARIO--(Marketwire - March 8, 2010) - Canada Mortgage and Housing Corporation (CMHC) released February preliminary housing starts data for the Kitchener Census Metropolitan Area1 (CMA) today. Construction began on 168 homes, up from the 103 units started in the same month last year. This was the fifth consecutive month with starts higher than a year ago.

To view the graph associated with this Press Release, please visit the following link: http://media3.marketwire.com/docs/KIT0308.pdf  

Foundations were poured for 92 single-detached homes in February, up from the 45 units started in February 2009. Townhome starts decreased to 18 units, down from 37 units last February. There were 24 rental apartment units started in February, up from the 19 apartment starts a year ago.. All municipalities in the CMA, except Cambridge, recorded higher starts in February.

"New home sales outpaced starts through most of 2009 which will support starts activity in 2010," said Edgard Navarrete, Market Analyst for the Kitchener CMA. "A tight resale home market and low interest rates have encouraged home buyers to consider the new home market. Any increase in demand for new homes must be met by new construction, as new home inventories are low," added Navarrete.

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 - KITCHENER CMA  
YEAR-OVER-YEAR COMPARISON - MONTH OF FEBRUARY AND YEAR-TO-DATE  
  Single Semi TH Apt Total   % Chg       Single Semi TH Apt Total   % Chg  
Cambridge City                   Cambridge City                
  February 2010 8 0 0 0 8   -68.0 %     YTD '10 19 2 0 4 25   -59.7 %
  February 2009 19 0 6 0 25           YTD '09 44 0 18 0 62      
Kitchener City                   Kitchener City                
  February 2010 52 14 18 20 104   136.4 %     YTD '10 105 26 27 50 208   133.7 %
  February 2009 15 2 27 0 44           YTD '09 50 4 31 4 89      
Waterloo City                   Waterloo City                
  February 2010 7 0 0 24 31   19.2 %     YTD '10 24 0 0 85 109   251.6 %
  February 2009 3 0 4 19 26           YTD '09 8 0 4 19 31      
Woolwich Twp.                   Woolwich Twp.                
  February 2010 24 0 0 0 24   200.0 %     YTD '10 32 0 12 0 44   300.0 %
  February 2009 8 0 0 0 8           YTD '09 11 0 0 0 11      
North Dumfries Twp.                   North Dumfries Twp.                
  February 2010 1 0 0 0 1   NA       YTD '10 3 0 0 0 3   NA  
  February 2009 0 0 0 0 0           YTD '09 0 0 0 0 0      
KITCHENER CMA2                   KITCHENER CMA2                
  February 2010 92 14 18 44 168   63.1 %     YTD '10 183 28 39 139 389   101.6 %
  February 2009 45 2 37 19 103           YTD '09 113 4 53 23 193      

Source: CMHC

1Statistics 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.

2Kitchener CMA includes Kitchener, Waterloo, Cambridge, Woolwich and North Dumfries

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

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Contact Information

  • Canada Mortgage and Housing Corporation
    Kitchener: Edgard Navarrete
    (416) 218-3329
    enavarre@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