Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 11, 2012 08:15 ET

March Starts Higher in Kitchener

TORONTO, ONTARIO--(Marketwire - April 11, 2012) - New residential construction in the Kitchener-Cambridge-Waterloo Census Metropolitan Area (CMA) increased in March compared to the same month of 2011, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). Construction began on 316 homes, up significantly from the 165 units started in the same month of 2011.

"Again this month, apartment construction accounted for the higher number of starts. Higher density housing is in line with the Region of Waterloo Official Plan. Strong demand from students, young adult households, and downsizing baby boomers supported the construction of apartments," said Erica McLerie, Senior Market Analyst at CMHC.

While single-detached, semi-detached and townhome starts were lower, the increase in apartment starts pushed total starts higher in March. Apartment construction increased to 212 units from 30 units last year. All apartment starts were in the City of Waterloo and were a mixture of rental units and condominiums. Builders started 77 single-detached homes in March, down from the 94 homes started a year ago.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high 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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To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/411cmhc_kitchener_graph.jpg

To view the table associated with this release, please visit the following link: http://media3.marketwire.com/docs/411cmhc_kitchener_table.jpg.

Contact Information

  • Canada Mortgage and Housing Corporation
    Erica McLerie
    Senior Market Analyst
    (416) 218-3318
    emclerie@cmhc.ca

    Canada Mortgage and Housing Corporation
    En français:
    Ed Heese
    Senior Market Analyst
    (416) 218-3369
    eheese@schl.ca