Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2012 08:15 ET

Steady Recovery in New Home Starts

TORONTO, ONTARIO--(Marketwire - June 8, 2012) - The residential construction market continued to recover in the Hamilton Census Metropolitan Area (CMA) in May, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). Housing starts increased by 16 per cent as compared to a year ago. More townhouses in Hamilton and Burlington and single-detached homes in Hamilton contributed to the rise in starts. There were 279 housing starts last month compared to 240 in May 2011.

"Starts continued to recover in the Hamilton-Burlington areas last month" noted Sarah Fong, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "For the year to-date, most starts were of semi-detached, townhouses and apartments.

Nearly 60 per cent of the starts for the first five months of the year were of semi-detached homes, townhouses, and apartments. Most of the apartments were condominium-tenured and located in Burlington, while the highest concentration of townhouse starts was in Hamilton. The bulk of the single-detached starts were in Hamilton.

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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To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/608cmhc_ham.pdf.

Contact Information

  • Canada Mortgage and Housing Corporation
    Ed Heese
    (416) 218-3369
    eheese@cmhc.ca