Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 10, 2012 08:15 ET

Starts Increased in June

TORONTO, ONTARIO--(Marketwire - July 10, 2012) - Total starts increased by eight per cent in June in the Brantford Census Metropolitan Area (CMA), according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). Nearly three-quarters of the starts were of single-detached homes, which totalled 88 last month across both Brant and Brantford as compared to 66 the year before. The increase in single-detached starts offset the decline in townhouse starts.

"The increase in single-detached starts is a sign of recovery in the new residential construction market," noted Sarah Fong, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "Single-detached starts are generally a more stable indicator of current demand than other home types."

Starts were also up eight per cent for the first six months of the year, as compared to the same period in 2011. Although the majority of new homes were started in Brantford, starts more than doubled in Brant.

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.

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