Oshawa New Home Construction Slows in October

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2011) - Canada Mortgage and Housing Corporation (CMHC) released new home construction figures for the Oshawa CMA (Census Metropolitan Area) today.

According to the release, Oshawa's total new home starts in October, at 144 units, were nine per cent lower than in the same month in 2010.

The decline was the result of a slower pace of new single-detached construction in Oshawa City, while housing starts in other sub-markets were at par with last year's numbers.

"Durham region remains a relatively affordable and popular destination for new low-rise homes. However, more restricted land supply has had an impact on where projects are being built. This month a higher share of housing starts in Durham was recorded in the Ajax area," said Inna Breidburg, Market Analyst with CMHC's Ontario Business Centre.

To view "Oshawa CMA Home Starts", please visit the following link: http://media3.marketwire.com/docs/oshawa_cma_home_starts.pdf

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed decisions.

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