Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2011 08:15 ET

CMHC Reports Townhouses Drive Starts in Hamilton

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2011) - Preliminary data released today by CMHC for the Hamilton Census Metropolitan Area (CMA) show total starts reached a monthly high for the year. Builders started 281 new homes in August in the CMA – the highest since September of last year. The increase in new homes can be attributed to a large townhouse complex started in Grimsby. Meanwhile, in the City of Hamilton, there were fewer homes of all types started, with the decline led by single-detached starts. In contrast, there was a boost in single-detached starts in Burlington last month, although total starts also declined.

"The townhouse starts in Grimsby were the primary driver of the boost in total starts last month," said Sarah Fong, CMHC's Senior Market Analyst for Hamilton. "Townhouses are becoming increasingly popular as a first home or a home to downsize to in the Hamilton CMA," added Fong.

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As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed decisions.

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

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