Sudbury Singles' Starts Weaken in October

GREATER SUDBURY, ONTARIO--(Marketwire - Nov. 8, 2011) - According to preliminary data released today by Canada Mortgage and Housing Corporation, October posted a relatively weak number of single-detached starts when compared with the 10 year average for this month. The twenty-eight singles that commenced in October were seven units less than the ten year average for Octobers.

"While singles starts are behind in the year-to-date, other types of dwelling's starts are ahead of 2010 levels," stated Warren Philp, CMHC's Northern Ontario Market Analyst. Over 100 apartment units combined with an above average number of semi-detached and row housing units are responsible for the stronger housing starts' performance," concluded Philp.

To view the graph, "October Starts Weakened," please visit the following link: http://media3.marketwire.com/docs/Sudburyoctstarts.pdf

"A relatively low vacancy rate has prompted more apartment units while less affordable new singles construction have caused builders to look more seriously at semi-detached and row housing ownership alternatives," concluded Philp.

Source: CMHC

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 November 2011, coming on December 8, 2011. CMHC's national web-site is located at www.cmhc.ca.