Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2011 08:15 ET

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.

URBAN HOUSING STARTS
OCTOBER
Single Family Semis, Rows,
Condos
and Apartments
Total
2010 2011 % chg 2010 2011 % chg 2010 2011 % chg
Sudbury 53 28 -47.2 8 8 0.0 61 36 -41.0
YEAR-TO-DATE: JANUARY TO OCTOBER
Single Family Semis, Rows,
Condos
and Apartments
Total
2010 2011 % chg 2010 2011 % chg 2010 2011 % chg
Sudbury 319 269 -15.7 196 208 6.1 515 477 -7.4

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.

Aussi disponible en français

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.

Contact Information

  • Canada Mortgage and Housing Corporation
    Sudbury, Warren Philp
    (877) 349-3688
    wphilp@cmhc.ca

    Canada Mortgage and Housing Corporation
    En francais: Sandra Perez-Torres
    (613) 748-5120
    sperezto@schl.ca

    Canada Mortgage and Housing Corporation
    Ontario: Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca

    Canada Mortgage and Housing Corporation
    Canada: Charles Sauriol
    (613) 748-2799
    csauriol@cmhc.ca

    Canada Mortgage and Housing Corporation
    www.cmhc.ca