January's Starts Trending Towards Demographic Needs in Ottawa

OTTAWA, ONTARIO--(Marketwire - Feb. 8, 2011) - According to the latest data released this morning by Canada Mortgage and Housing Corporation (CMHC), preliminary total housing starts in the Ottawa Census Metropolitan Area (CMA) declined to 216 units in January, compared to a robust 371 units in January 2010.

Activity in single and multiple home segments was comparatively even in the first month of the year, with apartment starts being the only type of home that moved higher compared to last January. "January's new home starts remain closely aligned with CMHC's forecast of fewer starts in 2011," said Sandra Perez-Torres, CMHC's Senior Market Analyst for Ottawa.

New townhomes and single-detached homes accounted for over two-thirds of new starts. All of the apartment starts in Ottawa can be attributed entirely to condominiums, as they continue to be a popular dwelling type in the region. "The trend towards condominiums continues, especially with the first-time home buyer group. High-density homes should continue to be popular as economic fundamentals continue to favour the construction of these types of dwellings," concluded Perez-Torres.

To view the graph "Ottawa Housing Starts 2009-2011", please visit the following link: http://media3.marketwire.com/docs/cmhc208e1.pdf

To view the graph "Housing Starts by Area January 2010 and January 2011", please visit the following link: http://media3.marketwire.com/docs/cmhc208e2.pdf

Most regions witnessed declines in housing starts activity, with the old city of Ottawa and Goulbourn defying the trend. Gloucester and Nepean had no activity this month inside the Greenbelt, and as a result, had lower starts. Nepean led the way with 43 starts, while Gloucester only had 14. There was good activity in Kanata, primarily in townhomes, and the old City of Ottawa, with activity focused on all multiple segments. The outer suburbs actually saw more construction in the apartment segment than in single family homes, which confirms the trend in the Capital towards higher density dwellings.

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

Ottawa Housing Starts

		Jan-10	Jan-11	% Change
Single-Detached		140	103	-26.4%
Multi-Family		231	113	-51.1%
	Semi-Detached	28	16	-42.9%
	Row House	179	51	-71.5%
	Apartment	24	46	91.7%
Total		371	216	-41.8%

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