Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 11, 2011 08:15 ET

Oshawa Starts Moved Higher in September

TORONTO, ONTARIO--(Marketwire - Oct. 11, 2011) - Preliminary September figures released today by Canada Mortgage and Housing Corporation (CMHC) indicate that 207 new home footings were laid in the Oshawa Census Metropolitan Area (CMA), up by 18 per cent from the same month a year ago. All three of Oshawa's submarkets saw higher numbers this month compared to last year. Year-to-date housing starts have nearly matched last year's level.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1011shwage.jpg.

"Due to tight market conditions in the existing home market over the past year more home buyers satisfied their housing needs through the purchase of a new home. Higher sales in the new home market have translated into more starts," said Inna Breidburg, Market Analyst with CMHC's Ontario Business Centre.

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.

To view the table associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1011shwate.jpg.

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