Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 12, 2010 08:15 ET

Canada Mortgage and Housing Corporation: Guelph Starts Higher in First Quarter

TORONTO, ONTARIO--(Marketwire - April 12, 2010) - The Canada Mortgage and Housing Corporation (CMHC) released preliminary housing starts data for the Guelph Census Metropolitan Area(1) (CMA) today. Builders started 250 dwellings in the first quarter of 2010, a more than three-fold increase from the 73 units started in the same quarter last year.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/Guelph1stquarter.pdf.

Builders poured 111 foundations for single-detached homes in the first quarter, up from the 30 units started in the first quarter of 2009. Townhouse construction increased to 73 units from 39 units started a year earlier. A total of 52 condominium apartment starts were recorded in the first quarter of 2010, compared to an absence of apartment starts in the first quarter last year.

"Low interest rates and increased spillover demand from a tight resale home market contributed to the strong level of starts in the first quarter," said Erica McLerie CMHC Senior Market Analyst for the Guelph CMA. "This was the strongest first quarter for starts in five years in the Guelph CMA", added McLerie.

(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.

HOUSING STARTS - GUELPH CMA  
YEAR-OVER-YEAR COMPARISON - MONTH OF MARCH AND YEAR-TO-DATE  
                               
                               
  Single Semi TH Apt Total % Chg     Single Semi TH Apt Total % Chg  
Guelph City               Guelph City              
  March '10 33 4 11 4 52 33.3 %   YTD '10 109 14 65 52 240 247.8 %
  March '09 15 0 24 0 39       YTD '09 29 4 36 0 69    
Guelph/Eramosa Twp.             Guelph/Eramosa Twp.            
  March '10 1 0 0 0 1 -75.0 %   YTD '10 2 0 8 0 10 150.0 %
  March '09 1 0 3 0 4       YTD '09 1 0 3 0 4    
GUELPH CMA               GUELPH CMA              
  March '10 34 4 11 4 53 23.3 %   YTD '10 111 14 73 52 250 242.5 %
  March '09 16 0 27 0 43       YTD '09 30 4 39 0 73    
                               
Source: CMHC  

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

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Contact Information

  • Canada Mortgage and Housing Corporation
    Guelph: Erica McLerie
    (416) 218-3318
    emclerie@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