Thunder Bay Starts Top Ten Year Average

THUNDER BAY, ONTARIO--(Marketwire - July 11, 2011) - Fifty-two units started in June in Thunder Bay CMA according to preliminary data released today by Canada Mortgage and Housing Corporation. The June totals surpassed both the ten-year average for single-detached and total housing starts. After a slow commencement to 2011, year-to-date total starts now register 99 units, nearly 30 per cent ahead of the same period last year.

"The condominium unit starts in June represent the first such project started since 2007," noted Warren Philp, Northern Ontario Market Analyst with CMHC. "The 24 units become the latest of the nearly 850 condominium units build in Thunder Bay since 1987, most of which have been apartment condominium units," explained 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 June Singles Starts chart, please visit the following link: http://media3.marketwire.com/docs/tbayej8.doc.pdf.

To view the Urban Housing Starts chart, please visit the following link: http://media3.marketwire.com/docs/tbayurbe.pdf.