Sudbury Apartments Lead Construction in November

GREATER SUDBURY, ONTARIO--(Marketwire - Dec. 8, 2011) - According to preliminary data released today by Canada Mortgage and Housing Corporation, November saw another strong month for higher density housing with 64 starts of semis and apartment units. Also, the 37 singles starts were slightly ahead of the ten year average for Novembers.

"The fifty-eight apartments started in November helped this type of dwelling surpass by 3 per cent the pace achieved in the first 11 months of 2010. Once again, a relatively low vacancy rate and relatively high ownership housing prices have prompted more construction of medium to high density housing units," stated Warren Philp, CMHC's Northern Ontario Market Analyst.

"On their part, single-detached homes starts have one month to overtake last year's total, but will be hard pressed to do so as the fall construction season for singles has been comparatively slow to date," summarized Philp.

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