CMHC: British Columbia Housing Starts in February

VICTORIA, BRITISH COLUMBIA--(Marketwire - March 8, 2012) - Canada Mortgage and Housing Corporation (CMHC) reports 2,302 housing starts in urban areas¹ of the province during February, up from 1,805 housing starts in February 2011. Multiple-family construction increased compared to February 2011 levels, while the number of single-detached housing starts was down slightly.

"Residential construction activity during the first two months of 2012 is ahead of last year's levels due to strength in a number of housing markets around the province," said Carol Frketich, CMHC's BC Regional Economist. Vancouver, Nanaimo, Victoria, Abbotsford-Mission, Vernon and Chilliwack recorded an increase in housing starts so far this year, compared to January and February of 2011.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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, and to download CMHC's housing reports, please visit CMHC's website at www.cmhc.ca/housingmarketinformation or call 1-800-668-2642.

To view the tables accompanying this press release please click on the following link: http://media3.marketwire.com/docs/cmbc308i.pdf.

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¹ Urban areas have a population of 10,000 or more.