Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 08, 2011 08:16 ET

Peterborough Housing Starts Down

TORONTO, ONTARIO--(Marketwire - April 8, 2011) - Canada Mortgage and Housing Corporation (CMHC) released preliminary first quarter new home starts data for the Peterborough Census Metropolitan Area (CMA) today. In the first quarter, new home construction decreased by 18 per cent to 36 starts from the 44 starts registered in the same period of 2010. A surge in row home construction sustained starts from falling further.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0408ptboge.jpg.

"After a strong number of starts in 2010, new construction is adjusting to the lower employment level of last year. Peterborough City and Smith Ennismore-Lakefield Township were the only parts of Peterborough CMA with new construction activity in the last quarter," said Abdellah Massaoudi, CMHC Market Analyst for the Peterborough CMA. "Many new homebuyers opted for row home. This choice can offer the same space as single-detached home, but with a more affordable price in the Peterborough urban core," added Massaoudi.

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

To view the table associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0408ptbote.jpg.

Aussi disponible en français.

Contact Information

  • Local in English or French:
    Canada Mortgage and Housing Corporation
    Abdellah Massaoudi
    (416) 218-3461
    amassaou@cmhc.ca

    Ontario:
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca

    Canada:
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    Office: (613) 748-2799 or Cell: (613) 816-5978
    csauriol@cmhc.ca