Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 10, 2006 08:15 ET

Canada Mortgage and Housing Corporation: New Home Construction Off to a Solid Start

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 10, 2006) - Canada Mortgage and Housing Corporation (CMHC) figures indicate that housing starts in Prince George totaled 50 units during the first quarter of 2006, up 22 per cent from the first quarter of last year. There were 42 single-detached homes started, marking the busiest first quarter since 1994.

"New home builders in Prince George have been working hard to keep up with the rising demand," noted CMHC Market Analyst Andy Ni. "High levels of activity in the region's resource sector have likely triggered employment gains and more in-migration. Both factors, combined with low interest rates, led to increased demand for new and existing homes in this Northern B.C. hub," he added.

Across urban B.C., first quarter housing starts increased 27.1 per cent to 7,934 units compared to the first quarter of 2005. Both single-detached and multiple unit starts saw double-digit increases.

Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for over 60 years. CMHC contributes to improving the living conditions and the well-being of Canadians through four areas of housing activities - housing finance, assisted housing, research and information transfer, and export promotion. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, and making vibrant and sustainable communities and cities a reality across the country. For more information, visit www.cmhc.ca or call 1 800 668-2642.


Contact Information

  • Canada Mortgage and Housing Corporation
    Andy Ni
    Market Analyst - Media Inquiries
    (604) 737-4052
    ani@cmhc.ca
    or
    Canada Mortgage and Housing Corporation
    Public Inquiries
    1-800-668-2642
    www.cmhc.ca