Peterborough Starts Decreased Slightly

TORONTO, ONTARIO--(Marketwire - Oct. 11, 2011) - Canada Mortgage and housing Corporation (CMHC) released preliminary third quarter new home starts data for the Peterborough Census Metropolitan Area (CMA) today. Housing starts fell by six per cent from a year earlier. New construction activity continued to decline, but with low pace in the previous quarter. The starts decrease occurred primarily in Peterborough City and mainly for row houses. Year-to-date housing starts are still down 20 per cent from the same period last year.

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"Housing starts in the third quarter came very close to the number they reached in the same period last year, indicating there's been some recovery from the slowdown in new construction in the first half of the year," said Abdellah Massaoudi, CMHC Market Analyst for the Peterborough CMA. "Even though there was a slight decrease in row house starts, this type of housing continued to be an affordable alternative to single-detached homes," added Massaoudi.

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.

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

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