Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 11, 2011 08:15 ET

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.

To view the graph associated with this release, please visit: http://media3.marketwire.com/docs/111cmhc_oshawa_graph.jpg

"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.

To view the table associated with this release, please visit: http://media3.marketwire.com/docs/111cmhc_oshawa_table.jpg

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Contact Information

  • Durham: Canada Mortgage and Housing Corporation
    Inna Breidburg
    (416) 218-3425
    ibreidbu@cmhc.ca
    or
    En francais: Societe canadienne d'hypotheques et de logement
    David Lan
    (519) 873-2426
    dlan@schl.ca
    or
    Ontario: Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada: Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799
    csauriol@cmhc.ca