Guelph Housing Starts Higher in 2010

TORONTO, ONTARIO--(Marketwire - Jan. 11, 2011) - Canada Mortgage and Housing Corporation (CMHC) released preliminary housing starts data for the Guelph Census Metropolitan Area(1) (CMA) today. Construction began on 250 dwellings in the fourth quarter of 2010, down marginally from the 252 units started in the same quarter of 2009.

Builders poured 74 single-detached foundations in the fourth quarter, down from the 118 homes started in the fourth quarter of 2009. Townhome starts more than doubled to 104 units, while apartment starts also contributed to the increase in starts.

To view a graph associated with this release, please visit: http://media3.marketwire.com/docs/cmgu111.pdf

Construction started on 1,021 homes in 2010, up 80 per cent from the 567 units started in 2009. Starts for all types of housing, except semi-detached homes, were higher in 2010. Single-detached starts increased to 406 homes, up from the 299 units started in 2009. Starts of townhomes and apartments nearly tripled in 2010, due to the increase in condominium construction.

"Homebuilders were busy in 2010 due to strong demand for new homes from both first-time and move-up buyers," said Erica McLerie CMHC Senior Market Analyst. "Stronger demand from first-time buyers and empty-nesters led to the surge in construction of the relatively more affordable townhouses and condominium apartments this year," added McLerie. 

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 a table associated with this release, please visit: http://media3.marketwire.com/docs/hcgu111.pdf

Aussi disponible en français

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

(1) Statistics Canada defines a census metropolitan area (CMA) as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000 of which 50,000 or more must live in the urban core.