Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 11, 2012 08:15 ET

Clarington Drives March Housing Starts

TORONTO, ONTARIO--(Marketwire - April 11, 2012) - Preliminary March figures released today by Canada Mortgage and Housing Corporation (CMHC) indicate that total new home starts in the Oshawa Census Metropolitan Area (CMA) increased to 105 units, 38 per cent higher than in the same period last year. Clarington was the source of this growth, while other sub-markets saw construction slow in March. For five months in a row, housing starts in the CMA have been outpacing last year's numbers.

"Oshawa's new home construction market has become better positioned relative to other GTA sub-markets. Higher inventory levels, and more favourable employment and affordability conditions have been supporting new home purchases in the area," said Inna Breidburg, Market Analyst with CMHC's Ontario Business Centre.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0411shwae.pdf.

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