Single-Detached Starts Doubled in June

TORONTO, ONTARIO--(Marketwire - July 10, 2012) - Single-detached starts in the Hamilton Census Metropolitan Area (CMA) more than doubled last month, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). Although total starts fell slightly behind last year's level, much of the decrease came from the apartment sector, where starts tend to fluctuate more frequently. Nearly three-quarters of the starts last month were of single-detached homes and more than 80 per cent of the starts were situated in the City of Hamilton last month. There were 192 housing starts during the month, as compared to 222 a year ago.

"Last month's increase in single-detached starts indicates that demand for new homes remains strong," noted Sarah Fong, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "Demand from buyers in Hamilton as well as the Greater Toronto Area has helped to keep the residential construction market busy this year."

Starts nearly doubled in the first six months of the year compared to the same period in 2011. Approximately half of the starts were of townhouses and apartments in the City of Hamilton and Burlington.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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.

To view the statistics associated with this press release, please visit the following link: http://media3.marketwire.com/docs/hamilton_stats.pdf

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