Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 10, 2012 08:15 ET

Second Quarter Starts Stable in Guelph

TORONTO, ONTARIO--(Marketwire - July 10, 2012) - New residential construction in the Guelph Census Metropolitan Area (CMA) increased in the second quarter compared to the same quarter of 2011, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). Construction began on 169 homes, up from the 167 units started in the same quarter last year.

"Housing starts were virtually unchanged between the second quarter of 2012 and the same quarter in 2011. However, the composition of construction changed between these quarters. Single-detached construction decreased this year. The inventory of single-detached units in the market is currently low by historical standards. A limited number of lots constrained single-detached construction. However, construction of semi-detached and row housing increased in the second quarter to satisfy current and future homebuyers' demands for higher-density housing," said Erica McLerie, Senior Market Analyst at CMHC.

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.

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