August Housing Starts Lower in Kitchener
TORONTO - Canada Mortgage and Housing Corporation (CMHC) released August preliminary housing starts data for the Kitchener Census Metropolitan Area(1) (CMA) today. Construction began on 190 homes, down from the 236 units started in the same month last year.
Foundations were laid for 112 single-detached homes in August, down from the 134 units started in August 2009. Lower semi-detached and townhome starts, as well as the absence of apartment starts, also contributed to the lower housing starts in August. Only the City of Waterloo and the Township of North Dumfries had higher starts. In the first eight months of 2010, construction began on 2,046 homes, up more than 50 per cent from the 1,327 units started in the same period of 2009.
"August was only the second month this year in which starts were lower than the same month in 2009 and overall starts are still on pace to exceed the number recorded last year," said Erica McLerie, Senior Market Analyst for the Kitchener CMA. "As the local economy has improved with a rebound in employment growth in the last year, demand has increased for new homes," added McLerie.
As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of 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 vital decisions.