Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2010 08:15 ET

Kingston Single-Detached Starts Back to Historical Levels

OTTAWA, ONTARIO--(Marketwire - July 9, 2010) - According to data released today by Canada Mortgage and Housing Corporation (CMHC), single-detached starts in the Kingston Census Metropolitan Area (CMA) increased in the second quarter of 2010, a return to historical levels. However, total preliminary starts declined to 174 units or 83 units lower than in the same period in 2009, almost entirely due to inactive apartment starts segment.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/king-1.pdf.

Following an increase in the first quarter, single-detached housing starts advanced by 35 per cent between April and June 2010, replenishing low inventory. The strong performance in the second quarter brought year-to-date single starts to 246 units or 66 per cent higher than the same period in 2009.

"Growth in single-detached housing construction activity this second quarter is a return to historical levels since such starts had been on a downward trend for two years prior to this year's increase," noted Abdul Kargbo, Market Analyst at CMHC for Kingston.

"The unemployment rate in Kingston remains relatively low, despite concerns about the strength of the global economic recovery. As of May 2010, the year-to-date full time employment among move-up buyers (aged 45-64) has increased by 10 per cent over last year. This strength in employment among Kingston's key homebuyer category coupled with relatively low mortgage rates will continue to support high levels of single-detached housing activity this year," concluded Kargbo.

Housing Starts - Kingston CMA  
  Singles Semi Row Apt. Semi Row Apt. Total    
Second Quarter 2009 2010 2009 2010 2009 2010 % Change  
                         
Kingston City 89 103 4 18 116 6 8 0 227 117 -48.5 %
Frontenac Islands 1 5 0 0 0 0 0 0 1 5 400.0 %
Loyalist 21 31 0 0 0 0 0 0 21 31 47.6 %
South Frontenac 8 21 0 0 0 0 0 0 8 21 162.5 %
Kingston CMA 119 160 4 18 116 6 8 0 257 174 -32.3 %
                         
Year to Second Quarter                        
                         
Kingston City 112 166 4 22 116 6 8 0 254 180 -29.1 %
Frontenac Islands 2 7 0 0 0 0 0 0 2 7 250.0 %
Loyalist 24 50 0 0 0 0 0 0 24 50 108.3 %
South Frontenac 10 23 0 0 0 0 0 0 10 23 130.0 %
Kingston CMA 148 246 4 22 116 6 8 0 290 260 -10.3 %

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.

Contact Information

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