Sudbury July Starts Bolstered by Condominiums

GREATER SUDBURY, ONTARIO--(Marketwire - Aug. 9, 2012) - According to preliminary data released today by Canada Mortgage and Housing Corporation, there were 82 housing starts in the Greater Sudbury Census Metropolitan Area (CMA) in July, up from 35 last July. Forty-seven of the 82 starts were condominium units or 57 per cent of all activity in the month.

"Single-family home prices continue to grow in Sudbury in both the resale and new construction market. Rising home prices have encouraged increasing construction of less expensive higher density units. As Sudbury's economy continues to expand, it will attract more in-migrants who have different housing preferences" said Warren Philp, CMHC's Northern Ontario Market Analyst.

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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