CMHC: Oshawa Housing Starts Nearly Doubled in 2010

TORONTO, ONTARIO--(Marketwire - Jan. 11, 2011) - Preliminary year-end figures released today by Canada Mortgage and Housing Corporation (CMHC) revealed that a total of 1,888 homes were started in the Oshawa Census Metropolitan Area (CMA) in 2010, including 1,540 single-detached and 348 multiple-family homes (semi-detached, townhouses and apartments). All housing types, except for apartments, registered significant percentage increases. Total housing starts in Oshawa for the year were up by 93 per cent compared to 2009.

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"Thanks to a strong rebound for employment in the Oshawa area, along with record low borrowing costs and pent up demand accumulated during the economic downturn in 2009, Oshawa saw a much improved pace of new home construction in 2010," said Inna Breidburg, Market Analyst with CMHC' s Ontario Business Centre."Demand for new homes in Oshawa also benefited as buyers turned their attention to more affordable areas of the GTA ," added Breidburg.

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.

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