Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2011 08:15 ET

CMHC Says Slow Start to the Year

TORONTO, ONTARIO--(Marketwire - March 8, 2011) - Preliminary data released today by CMHC show that there was a decline in home starts in February in the Hamilton Census Metropolitan Area (CMA), as compared to the same month last year. Total home starts declined by nearly three-quarters to just over 100 starts for the month. The vast majority of the starts were of single-detached homes. They declined by only one-third as compared to a year ago. Single, semi-detached and apartment construction were all down in February, and there was no townhouse construction.

Starts were unusually low during the first two months of this year, particularly in Hamilton and Burlington, after having been unusually high in the first two months of 2010. In Hamilton, there were just over 100 single-detached homes, and 15 townhouses and apartments as compared to over 500 homes of all types during the same period in 2010. In Burlington, a total of 27 single and semi- detached homes were started during January and February, as compared to 10 times that number last year.

"Buyer demand for new housing has declined in recent months following the recovery period in 2010," said Sarah Fong, CMHC's Senior Market Analyst for Hamilton and Brantford. "Also, land scarcity has been an issue in some areas of the CMA," added Fong.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0308hame.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.

Housing Starts February 2011
Hamilton CMA
  February   January - February  
  Single Semi TH Apt Total % Chg   Single Semi TH Apt Total % Chg  
Hamilton CMA                            
  Feb-11 86 4 0 12 102 -72.6 % 150 4 3 12 169 -79.6 %
  Feb-10 124 34 82 132 372     217 48 188 377 830    
Burlington                            
  Feb-11 9 4 0 0 13 -68.3 % 23 4 0 0 27 -90.0 %
  Feb-10 6 28 7 0 41     14 42 32 182 270    
Hamilton                            
  Feb-11 66 0 0 12 78 -74.7 % 109 0 3 12 124 -76.5 %
  Feb-10 95 6 75 132 308     170 6 156 195 527    
Grimsby                            
  Feb-11 11 0 0 0 11 -52.2 % 18 0 0 0 18 -45.5 %
  Feb-10 23 0 0 0 23     33 0 0 0 33    
Halton Hills                            
  Feb-11 4 0 0 0 4 -63.6 % 9 2 0 0 11 -80.4 %
  Feb-10 11 0 0 0 11     26 0 30 0 56    
Milton                            
  Feb-11 74 0 44 56 174 114.8 % 181 0 57 56 294 -4.2 %
  Feb-10 59 0 22 0 81     265 20 22 0 307    
Oakville                            
  Feb-11 8 0 4 0 12 -47.8 % 11 0 4 0 15 -78.9 %
  Feb-10 5 0 18 0 23     11 0 60 0 71    
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
    Ed Heese
    (416) 218-3369
    eheese@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