Contact Information: For further information, please contact / Pour obtenir de plus amples renseignements, veuillez communiquer avec : Kitchener: Canada Mortgage and Housing Corporation Erica McLerie (416) 218-3318 emclerie@cmhc.ca or En francais: Canada Mortgage and Housing Corporation David Lan (519) 873-2426 dlan@cmhc.ca or Ontario: Canada Mortgage and Housing Corporation Ted Tsiakopoulos (416) 218-3407 ttsiakop@cmhc.ca or Canada: Canada Mortgage and Housing Corporation Charles Sauriol (613) 748-2799 csauriol@cmhc.ca
TORONTO, ONTARIO--(Marketwire - Jan. 11, 2011) - Canada Mortgage and Housing Corporation (CMHC) released December preliminary housing starts data for the Kitchener-Cambridge-Waterloo Census Metropolitan Area(1) (CMA) today. Construction began on 195 homes, virtually unchanged from the 194 units started in the same month of 2009. Builders laid foundations for 77 single-detached homes in December, down from the 121 units started in December 2009. While semi-detached starts were also lower, townhome and apartment starts were higher.
To view "Housing Starts Highest in Five Years", please visit the following link: http://media3.marketwire.com/docs/kitchner_figure1.pdf.
Construction began on 2,815 homes in 2010, up more than 20 per cent from the 2,298 units started in 2009. Starts were higher for all housing types, except townhomes. Single-detached starts increased to 1,255 units in 2010, up from the 1,161 homes started in 2009. All municipalities, except Cambridge, recorded higher starts in 2010.
"After a strong start to 2010 as people bought early to avoid the HST and anticipated mortgage rate increases, new home starts trended lower for the latter part of the year. But overall, housing starts in 2010 were the highest since 2005. Low mortgage rates and stronger demand for apartments explain the increase in starts," said Erica McLerie, Senior Market Analyst for the Kitchener CMA. "Demand for new homes will pick up gradually throughout 2011 from the low level at the end of 2010," added McLerie.
(1)Statistics Canada defines a census metropolitan area (CMA) as one or more adjacent municipalities integrated with an urban core. A CMAmust have a total population of at least 100,000 of which 50,000 or more must live in the urban core.
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.
/T/
HOUSING STARTS - KITCHENER-CAMBRIDGE-WATERLOO CMA
YEAR-OVER-YEAR COMPARISON-MONTH OF DECEMBER AND YEAR-TO-DATE
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Single Semi TH Apt Total % Chg
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Cambridge City
Dec 2010 27 0 18 0 45 -4.3%
Dec 2009 35 0 12 0 47
Kitchener City
Dec 2010 35 0 25 54 114 4.6%
Dec 2009 50 8 35 16 109
Waterloo City
Dec 2010 4 0 0 9 13 8.3%
Dec 2009 12 0 0 0 12
Woolwich Twp.
Dec 2010 10 0 12 0 22 -4.3%
Dec 2009 21 2 0 0 23
North Dumfries Twp.
Dec 2010 1 0 0 0 1 -66.7%
Dec 2009 3 0 0 0 3
KITCHENER CMA(2)
Dec 2010 77 0 55 63 195 0.5%
Dec 2009 121 10 47 16 194
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Single Semi TH Apt Total % Chg
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Cambridge City
YTD '10 267 2 84 198 551 -34.4%
YTD '09 410 2 207 221 840
Kitchener City
YTD '10 616 92 307 287 1302 50.9%
YTD '09 412 36 299 116 863
Waterloo City
YTD '10 115 0 24 481 620 92.5%
YTD '09 106 0 43 173 322
Woolwich Twp.
YTD '10 210 0 83 2 295 19.9%
YTD '09 206 24 16 0 246
North Dumfries Twp.
YTD '10 47 0 0 0 47 74.1%
YTD '09 27 0 0 0 27
KITCHENER CMA(2)
YTD '10 1255 94 498 968 2815 22.5%
YTD '09 1161 62 565 510 2298
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Source: CMHC
(2)Kitchener-Cambridge-Waterloo CMA includes Kitchener, Waterloo,
Cambridge,Woolwich and North Dumfries
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For more information, visit www.cmhc.ca or call 1 800 668-2642.
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