Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2011 08:15 ET

Thunder Bay October Starts Above 10 Year Average

THUNDER BAY, ONTARIO--(Marketwire - Nov. 8, 2011) - According to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC), the 22 single-detached starts in October were three units ahead of the 10 year average in Thunder Bay for the month of October.

"With two months remaining in the year, single-detached starts will be hard pressed to top the 204 counted in 2010. Meanwhile total starts are much higher due to the strength of higher density starts," said Warren Philp, CMHC's Northern Ontario Market Analyst.

The 186 units of higher density housing started in the first ten months of 2011 compares to only 14 for the same period last year.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1108tbayge.jpg.

"The 348 total units started thus far in 2011 are nearly 80 per cent higher than the 195 units begun for the same period one year ago. The weather has been cooperating thus far this autumn which bodes well for the construction season continuing well until the end of the year," advised Philp.

URBAN HOUSING STARTS
OCTOBER
Single Family Semis, Rows, Condos and Apartments Total
2010 2011 % chg 2010 2011 % chg 2010 2011 % chg
Thunder Bay 25 22 -12.0 0 4 ** 25 26 4.0
YEAR-TO-DATE: JANUARY TO OCTOBER
Single Family Semis, Rows, Condos and Apartments Total
2010 2011 % chg 2010 2011 % chg 2010 2011 % chg
Thunder Bay 181 162 -10.5 14 186 ** 195 348 78.5

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.

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