Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2012 08:15 ET

Oshawa Apartment Construction Surges in February

TORONTO, ONTARIO--(Marketwire - March 8, 2012) - Canada Mortgage and Housing Corporation (CMHC) released new home construction figures for the Oshawa Census Metropolitan Area (CMA) today. Total February housing starts, at 296 units, more than tripled last year's level. Apartments were responsible for 85 per cent of housing starts last month, equally split between condominium and rental accommodations.

"The slower low-rise construction numbers in February were more than offset by strong apartment starts. While such a high level of apartment starts is not typical for Oshawa, overall housing starts remained in line with the longer-term trend," said Inna Breidburg, Market Analyst with CMHC's Ontario Business Centre.

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.

To view the table associated with this press release, please visit the following link: http://media3.marketwire.com/docs/cmhc0308oshe.pdf.

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