Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2010 08:15 ET

September Housing Starts Lower in Kitchener

TORONTO, ONTARIO--(Marketwire - Oct. 8, 2010) - Canada Mortgage and Housing Corporation (CMHC) released September preliminary housing starts data for the Kitchener-Cambridge-Waterloo Census Metropolitan Area(1) (CMA) today. Construction began on 145 homes, down from the 160 units started in the same month last year.

To view the graph of the "Kitchener CMA Housing Starts," please visit the following link:

http://media3.marketwire.com/docs/kitchener.jpg

Foundations were laid for 88 detached homes in September, up from the 81 units started in September 2009. Although semi-detached starts were higher, lower townhome starts, as well as the absence of apartment starts, contributed to the lower housing starts in September. Only the City of Kitchener and the Township of Woolwich had higher starts. In the first three quarters of 2010, construction began on 2,191 homes, up 47 per cent from the 1,487 units started in the same period of 2009.

"The flurry of construction activity that occurred in the first half of 2010 has waned in the last two months, but total starts for 2010 will exceed the level recorded in 2009," said Erica McLerie, Senior Market Analyst for the Kitchener CMA. "With an improving local economy and increased migration, there will be demand for new homes," added McLerie.

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 housing forecasts that will inform your business strategy in 2011, attend your local housing market outlook session this November. Visit www.cmhc.ca/conferenceregistration for complete details.

(1)Statistics Canada defines a census metropolitan area (CMA) as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000 of which 50,000 or more must live in the urban core. 

To view the "Housing Starts - Kitchener CMA" table, please visit the following link:  

http://media3.marketwire.com/docs/kit2.jpg

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

Contact Information

  • For additional information please contact/Pour obtenir de
    plus amples renseignements, veuillez communiquer avec :
    Kitchener: Canada Mortgage and Housing Corporation
    Erica McLerie
    (416) 218-3318
    emclerie@cmhc.ca
    or
    En francais:
    Societe canadienne d'hypotheques et de logement
    David Lan
    (519) 873-2426
    dlan@cmhc.ca
    or
    Ontario:
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada:
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799
    csauriol@cmhc.ca