2011 Housing Starts Slightly Higher in St. Catharines-Niagara

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2012) - Preliminary data for December 2011 released today by Canada Mortgage and Housing Corporation (CMHC) for the St. Catharines-Niagara Census Metropolitan Area (CMA) showed total housing starts increased in December compared to the same month in 2010. Total starts were 75 units for the month, up from 59 units started in December 2010 due to higher starts for single-detached homes and townhomes.

Construction began on 1,110 homes in 2011, up slightly from the 1,086 units started in 2010. Starts were lower for all housing types, except apartments. Apartment starts increased to 174 units from 41 units in 2010. All apartments started were rental. Single-detached starts decreased to 655 units in 2011 from the 714 homes started in 2010.

"The increase in apartment construction was due to strong demand from downsizing baby boomers. But, with lower demand from both first-time and repeat buyers, starts for other housing types declined," said Erica McLerie, Senior Market Analyst with CMHC.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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