KINGSTON, ONTARIO--(Marketwire - April 11, 2012) - According to the latest preliminary data released by Canada Mortgage and Housing Corporation (CMHC), total housing starts in the Kingston Census Metropolitan Area (CMA) were 159 units in the first quarter of 2012, down from 280 units in the first quarter of 2011.
The decline in total housing starts this first quarter can be attributed entirely to moderation in apartment construction. Meanwhile, single-detached housing starts increased by fifteen per cent between January and March of 2012 compared to last year.
"Given that single housing starts dropped eleven per cent in 2011, the strong performance this first quarter can be seen as a return to historical level," said Abdul Kargbo, CMHC's Kingston Market Analyst.
"Row or townhouse construction activity started the year on a high note as low mortgage rates continue to attract many first-time homebuyers," concluded Kargbo.
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.
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Contact Information:
Sandra Perez Torres
Senior Market Analyst
613-748-5120
sperezto@cmhc.ca
www.cmhc.ca