Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2010 08:15 ET

Kingston Housing Starts Recovered in the Third Quarter

OTTAWA, ONTARIO--(Marketwire - Oct. 8, 2010) - According to data released today by Canada Mortgage and Housing Corporation (CMHC), housing starts in the Kingston Census Metropolitan Area (CMA) increased in the third quarter of 2010. Total preliminary starts reached 212 units or 35 units higher than in the same period in 2009. This growth is mainly due to stronger apartment starts in Kingston City.

After two consecutive quarterly declines, apartment starts showed renewed strength in the third quarter of 2010. As a result of this increase, total housing starts in Kingston have exceeded last year's level, recording a slight year-to-date gain of one per cent. Meanwhile, single-detached housing starts declined by 21 per cent between July and September 2010, a decrease that is in line with CMHC's projection.

To view the chart associated with this release, please visit the following link: http://media3.marketwire.com/docs/king1.jpg.

"The first half of the year was characterized by strong single-detached construction activity as some sales of new homes were brought forward. Consequently low rise construction activity eased off in the third quarter," noted Abdul Kargbo, Market Analyst at CMHC for Kingston.

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.

Housing Starts - Kingston CMA
  Singles Semi Row Apt. Semi Row Apt. Total  
Third Quarter 2009 2010 2009 2010 2009 2010 % Change
                       
Kingston City 110 93 0 4 0 0 7 70 114 170 49.1%
Frontenac Islands 0 5 0 0 0 0 0 0 0 5 -
Loyalist 26 20 2 0 0 0 0 0 28 20 -28.6%
South Frontenac 35 17 0 0 0 0 0 0 35 17 -51.4%
Kingston CMA 171 135 2 4 0 0 7 70 177 212 19.8%
                       
Year to Third Quarter                      
                       
Kingston City 222 259 4 26 116 6 15 70 368 350 -4.9%
Frontenac Islands 2 12 0 0 0 0 0 0 2 12 500.0%
Loyalist 50 70 2 0 0 0 0 0 52 70 34.6%
South Frontenac 45 40 0 0 0 0 0 0 45 40 -11.1%
Kingston CMA 319 381 6 26 116 6 15 70 467 472 1.1%
                       
% Chg Year - to - date   19.4%       0.0% -42.3% -39.7%   1.1%  

Contact Information

  • Kingston:
    Abdul K. Kargbo
    Market Analyst
    613-748-5129
    akargbo@cmhc.ca
    or
    En Francais:
    Sandra E. Perez Torres
    Senior Market Analyst
    613-748-5120
    sperezto@cmhc.ca
    or
    Ontario:
    Ted Tsiakopoulos
    Regional Economist
    416-218-3407
    ttsiakop@cmhc.ca
    or
    Canada:
    Charles Sauriol
    Senior Media Relations Officer
    (613) 748-2799
    csauriol@cmhc.ca