Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 11, 2011 08:15 ET

Sudbury Leads Northeastern Ontario Activity

GREATER SUDBURY, ONTARIO--(Marketwire - July 11, 2011) - Another strong month for housing starts was recorded in June in the Greater Sudbury metropolitan area, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). Eighty five homes started in June, boosting the year-to-date total to 179 units. Although June counts surpassed the ten year average for single-detached starts and total starts, it is still nearly 20 per cent off from the first six months of 2010.

"June saw twenty six rental apartments breaking ground. These, along with 57 single - detached starts and 2 semi- detached, are evidence of both strengthening employment and a buoyant resale market in the Greater Sudbury area," stated Warren Philp, Northern Ontario Market Analyst with CMHC.

"All three of the other major cities in North eastern Ontario have weaker levels of activity compared to Sudbury. Timmins is at least on par with last year's starts levels with 12 units having commenced to the end of June while the Northeast's two other major cities, Sault Ste. Marie and North Bay are off 55 and 80 per cent respectively," advised Philp.

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

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Our next Housing Starts press release will be July 2011, coming on August 9, 2011. CMHC's national web-site is located at www.cmhc.ca.

To view the graph associated with this release, please visit the link below:

http://media3.marketwire.com/docs/cmhgraph.jpg

To view the table associated with this release, please visit the link below:

http://media3.marketwire.com/docs/cmhtable.jpg

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