Housing Starts Increased in Brantford

TORONTO, ONTARIO--(Marketwire - April 11, 2012) - New residential construction in the Brantford Census Metropolitan Area (CMA) increased last quarter as compared to 2011, according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). There were 61 housing starts last quarter compared to 44 recorded in the first quarter of 2011.

"Starts increased in both Brantford and Brant County as compared to last year, although starts in both years are below historical levels," noted Sarah Fong, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "The rise in starts last quarter came from the single-detached market in Brant County and the townhouse market in the higher-density market in Brantford."

Despite the increase in starts last quarter, the level of starts remains below the five-year historical average. Difficulty in securing full-time employment - a necessary requirement for obtaining a mortgage - has been one challenge for the housing market. The cooling resale market is another indication that overall market activity is slowing.

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 graph and table associated with this press release, please visit the following link: http://media3.marketwire.com/docs/brantford_data_eng.pdf

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