Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2010 08:15 ET

November Housing Starts Lower in Kitchener

TORONTO, ONTARIO--(Marketwire - Dec. 8, 2010) - Canada Mortgage and Housing Corporation (CMHC) released November preliminary housing starts data for the Kitchener-Cambridge-Waterloo Census Metropolitan Area1 (CMA) today. Construction began on 107 homes, down from the 273 units started in the same month last year.

To view the Kitchener CMA Housing graph, please visit the following link:

http://media3.marketwire.com/docs/kit-graph.pdf.

Foundations were laid for 48 single-detached homes in November, down significantly from the 174 units started in November 2009. Townhome and apartment starts were also lower. All municipalities in the CMA had lower starts. In the January-November period of 2010, construction began on 2,579 homes, up 23 per cent from the 2,104 units started in the same period of 2009.

"After a strong rebound in October, November construction was the lowest level this year, as single-detached construction dropped," said Erica McLerie, Senior Market Analyst for the Kitchener CMA. "Demand has fallen for new homes due in part to the pull-forward of sales into the latter part of 2009 and early 2010, as well as buyers taking a wait and see attitude with regard to mortgage rates," added McLerie.

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.

HOUSING STARTS - KITCHENER-CAMBRIDGE-W ATERLOO CMA
YEAR-OVER-YEAR COMPARISON - MONTH OF NOVEMBER AND YEAR-TO -DATE
 
  Single Semi TH Apt Total % Chg   Single Semi TH Apt Total % Chg
Cambridge City             Cambridge City            
  Nov 2010 16 0 6 0 22 -85.2% YTD '10 240 2 66 198 506 -36.2%
  Nov 2009 79 0 31 39 149   YTD '09 375 2 195 221 793  
Kitchener City             Kitchener City            
  Nov 2010 13 4 12 20 49 -26.9% YTD '10 546 92 276 233 1147 52.1%
  Nov 2009 48 4 15 0 67   YTD '09 362 28 264 100 754  
Waterloo City             Waterloo City            
  Nov 2010 7 0 0 0 7 -66.7% YTD '10 111 0 24 472 607 95.8%
  Nov 2009 11 0 10 0 21   YTD '09 94 0 43 173 310  
Woolwich Twp.             Woolwich Twp.            
  Nov 2010 10 0 17 0 27 -3.6% YTD '10 200 0 71 2 273 22.4%
  Nov 2009 28 0 0 0 28   YTD '09 185 22 16 0 223  
North Dumfries Twp.           North Dumfries Twp.            
  Nov 2010 2 0 0 0 2 -75.0% YTD '10 46 0 0 0 46 91.7%
  Nov 2009 8 0 0 0 8   YTD '09 24 0 0 0 24  
KITCHENER CMA2             KITCHENER CMA2            
  Nov 2010 48 4 35 20 107 -60.8% YTD '10 1143 94 437 905 2579 22.6%
  Nov 2009 174 4 56 39 273   YTD '09 1040 52 518 494 2104  
Source: CMHC
2Kitchener-Cambridge-Waterloo CMA includes Kitchener, Waterloo, Cambridge, Woolwich and North Dumfries

For more information, visit www.cmhc.ca or call 1 800 668-2642.

Aussi disponible en français

1Statistics Canada defines a census metropolitan area (CMA) as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000 of which 50,000 or more must live in the urban core.

Contact Information

  • For additional information please contact/Pour obtenir
    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
    www.cmhc.ca