March Housing Starts Increased in Hamilton

TORONTO, ONTARIO--(Marketwire - April 11, 2012) - New residential construction in the Hamilton CMA increased last month compared to March 2011, according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). There were 161 housing starts last month compared to 125 recorded in March 2011.

"All of the starts were in the City of Hamilton last month except for one single-detached home started in Burlington," noted Sarah Fong, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "The number of townhouse starts more than doubled in the City of Hamilton, reflecting the growing trend towards relatively more affordable options."

Starts in the first quarter reflect an upward trend as compared to the first quarter of 2011. Over 40 per cent of the starts during the quarter were of townhouses, and the vast majority of them were freehold.

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.

To view the figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/CMHC_figures_Hamilton_March.pdf.

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