Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2011 08:15 ET

New Home Starts Show Improvement in April

TORONTO, ONTARIO--(Marketwire - May 9, 2011) - Preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC) indicate that 156 new homes were started during April in the Oshawa Census Metropolitan Area (CMA), 14 per cent below the level seen in the same month last year. The number of April starts was in line with the five-year average for the month. The area saw an increase in the share of multiple-unit starts, which includes semis, rows and apartments.

"The declining number of buildable lots and reduced affordability for new singles played a role in the growing proportion of new townhouse sales over the past months. The share of multiple-family construction in the area, however, is still below levels in other parts of the GTA," said Inna Breidburg, Market Analyst with CMHC's Ontario Business Centre.

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.

To view figure 1, please visit the following link: http://media3.marketwire.com/docs/F1-OSHE.pdf

To view figure 2, please visit the following link: http://media3.marketwire.com/docs/F2-OSHE.pdf

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