Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 11, 2011 08:15 ET

CMHC Says New Home Starts Fell

TORONTO, ONTARIO--(Marketwire - July 11, 2011) - Total housing starts declined by nearly 30 per cent in the Brantford Census Metropolitan Area (CMA) according to the figures released today by Canada Mortgage and Housing Corporation (CMHC). However, much of the decline is attributed to the typically more volatile apartments sector. While 35 apartments were started during the second quarter of 2010, there were none this year. Starts of other home types in the City of Brantford, however, remained stable as compared to last year. In the more rural Brant County where single-detached starts dominate, there were just six fewer homes started during the quarter.

"While apartment starts were down, singles, semis, and townhouse starts held up in Brantford," said Sarah Fong, CMHC's Senior Market Analyst for Hamilton and Brantford. "The weaker labour market conditions in Brantford have added downward pressure to starts," added Fong.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/e711cmhc1.jpg

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. For more information, visit www.cmhc.ca or call 1 800 668-2642.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/e711cmch2.jpg

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