Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2011 08:15 ET

Higher-Density Housing Growing in Oshawa

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2011) - Canada Mortgage and Housing Corporation (CMHC) released new home construction figures for the Oshawa Census Metropolitan Area (CMA) today. A total of 173 new home starts recorded this August outpaced last year's total by 28 per cent. Single-detached starts declined 17 per cent from August 2010. So far in 2011, housing starts in Oshawa CMA totaled 1,159 units, down four per cent from last year.

"The inventory of single-detached homes ready for development has been declining almost everywhere in the GTA, which has limited the number of sales and starts of this type. As a result, a greater proportion of new home buyers in Durham have shifted their attention to semi-detached and townhouses over the past year," said Inna Breidburg, Market Analyst with CMHC's Ontario Business Centre.

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.

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To view the "Oshawa CMA Home Starts" graphic associated with this press release please visit the following link:

http://media3.marketwire.com/docs/osh909.jpg.

To view the "Housing Starts - Durham CMA" table associated with this press release please visit the following link:

http://media3.marketwire.com/docs/osh9092.jpg.

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