Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 10, 2012 08:15 ET

Oshawa New Home Construction Slows in June

TORONTO, ONTARIO--(Marketwire - July 10, 2012) - According to preliminary data released by the Canada Mortgage and Housing Corporation (CMHC) today, total June housing starts in the Oshawa Census Metropolitan Area (CMA) were 20 per cent lower compared to the same month last year. Year-to date housing starts in Oshawa are up by 33 per cent from 2011, mostly due to a strong increase in apartment starts. As the year progresses, growth compared to 2011 will shrink given that all high-rise projects planned for 2012 have already started.

"Aside from apartments, housing starts in Oshawa are on pace to reach a similar level to last year," 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 statistics associated with this press release, please visit the following link: http://media3.marketwire.com/docs/oshawa_statistics.pdf

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