Strong Apartment Starts Inflate Quarterly Total

TORONTO, ONTARIO--(Marketwire - July 11, 2011) - Canada Mortgage and Housing Corporation (CMHC) released preliminary second quarter 2011 new home construction figures for the Barrie Census Metropolitan Area⁽¹⁾ (CMA) today. Builders started 368 homes in the most recent quarter, up from the 200 starts in the first quarter of 2011. Single-detached homes and apartments represent a significant portion of new construction. There were no semi-detached starts and only four row starts this quarter.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0711barge.jpg.

"Total starts are up significantly year-over-year," commented CMHC's Barrie Market Analyst, Edgard Navarrete. "Starts of condominium apartment projects are inflating the final tally. Single-detached starts remain significant but apartment starts are overshadowing singles this quarter. Affordability and land issues continue to be important," added Navarrete.

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.

To view the table associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0711barte.jpg.

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

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⁽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.