Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2010 08:15 ET

CMHC Reports New Home Starts Double in August

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) - CMHC released preliminary data today that show builders were keeping busy with new home starts across the Hamilton Census Metropolitan Area (CMA) last month. Total starts in August were roughly double the average for this time of the year and the strongest month for starts since 2004. There were notable increases in new home construction for all home types, but single-detached starts in the City of Hamilton and apartment starts in Burlington were the primary drivers behind the increase in total starts.

"Starts in August were one of the highest they had been for any month over the past several years," said Sarah Fong, CMHC's Senior Market Analyst for Hamilton. "Some buyers made purchases earlier this year ahead of expected mortgage rate increases, which meant that there were more homes in the pipeline for builders to start on this summer. Also, after having been more focused on completing and selling off homes rather than starting on new homes, builders are now looking to replenish supply." added Fong.

To view the graph associated with this press release, please visit the following link: http://media3.marketwire.com/docs/ha1.jpg.

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 - homes that will continue to create vibrant and healthy communities and cities across the country. For more information, visit www.cmhc.ca or call 1 800 668-2642.

Housing Starts August 2010    
Hamilton CMA      
  August January - August
  Single Semi TH Apt Total % Chg Single Semi TH Apt Total % Chg
Hamilton CMA                        
  August '10 201 38 104 186 529 - 1182 202 616 565 2565 112.5%
  August '09 93 2 42 0 137   502 64 287 354 1207  
Burlington                        
  August '10 23 36 8 186 253 - 221 158 73 370 822 63.1%
  August '09 18 0 0 0 18   45 54 51 354 504  
City of Hamilton                        
  August '10 174 2 96   272 - 858 44 543 195 1640 158.3%
  August '09 71 2 42 0 115   412 10 213 0 635  
Grimsby                        
  August '10 4       4 - 103 0 0 0 103 51.5%
  August '09 4 0 0 0 4   45 0 23 0 68  
Halton Hills                        
  August '10 5       5 - 72 0 30 0 102 67.2%
  August '09 4 0 0 0 4   29 0 32 0 61  
Milton                        
  August '10 69 44 111 104 328 - 724 90 287 104 1205 11.8%
  August '09 7 0 30 0 37   727 126 225 0 1078  
Oakville                        
  August '10 31   4 211 246 - 263 2 155 332 752 235.7%
  August '09 25 0 5 0 30   131 0 93 0 224  

Source: CMHC

* Hamilton Census Metropolitan Area (CMA) includes the City of Hamilton, Burlington, and Grimsby. Statistics Canada defines a CMA as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000.

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Contact Information

  • Hamilton CMA:
    Canada Mortgage and Housing Corporation
    Sarah Fong
    (416) 250-3294
    sfong@cmhc.ca
    or
    En francais:
    Canada Mortgage and Housing Corporation
    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 or (613) 816-5978
    csauriol@cmhc.ca