Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 11, 2012 08:15 ET

Hamilton Total Housing Starts Moderated in August

TORONTO, ONTARIO--(Marketwire - Sept. 11, 2012) - Total housing starts in the Hamilton Census Metropolitan Area (CMA) moderated to 203 units in August 2012 from 281 units in August 2011, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). This month's decrease in housing starts was recorded across all dwelling types, with the exception of semi-detached structures. However, between January and August 2012, the number of housing starts remains well above the levels reached during the first eight months of 2011.

On a sub-market basis, in August 2012, the City of Hamilton posted gains in total housing starts while builders in Burlington and Grimsby scaled back activity.

"Given that residential construction activity has been particularly strong in the first half of 2012, the weak performance this August can be seen as a return to historical levels," said Abdul Kargbo, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "Single-detached housing starts, which are less volatile and therefore a better indicator of the trend in construction activity, remain relatively healthy with a year-to-date increase of ten per cent," added Kargbo.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. 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. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

To view the tables associated with this press release, please visit the following links:

Table 1: http://media3.marketwire.com/docs/CMHCENGtable1.pdf

Table 2: http://media3.marketwire.com/docs/CMHCENGtable2.pdf

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