This is a press release from Canada Mortgage and Housing Corporation (CMHC).
If you’re interested in learning about the growth in our area, this is worth reading. Are you one of those that had a townhome built or a home? We’d be interested in learning about why you decided to build rather than purchase. Please share your stories with us?
T.
TORONTO, DECEMBER 10, 2007 – Preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC) show that a total of 97 homes got underway in November in the St. Catharines-Niagara CMA, up 23 per cent from November 2006. While single-detached home starts slid by 11 per cent, multiple family home starts (the majority of which were townhomes) increased by 109 percent, boosting overall starts. Construction was up in most municipalities, with the exception of Fort-Erie, Niagara-on-the-Lake, Pelham and Thorold.
Housing starts for the past eleven months, however, slipped by 12 per cent compared to the same period in 2006. On a submarket basis, year-to-date starts were down in most of the municipalities, but continued to grow in Fort Erie, Niagara Falls and Pelham.
“We continue to see strength in multiple-family home construction” commented David Lan, CMHC Housing Market Analyst. “Townhomes are becoming very popular because many buyers consider them as a more affordable alternative to new single-detached homes.”
Note: Statistics Canada defines a census metropolitan area (CMA) as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000 of which 50,000 or more must live in the urban core.
Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency for over 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country. For more information, visit www.cmhc.ca or call 1 800 668-2642.
Aussi disponible en français
For additional information please contact / Pour obtenir de plus amples
renseignements, veuillez communiquer avec:
Local: David Lan, (416) 575-8458 or dlan@cmhc.ca
En français: David Lan, (416) 575- 8458 ou dlan@cmhc.ca
Ontario: Ted Tsiakopoulos, (416) 218-3407 or TTsiakop@cmhc.ca
Canada: Bob Dugan, (613) 748-4009 or BDugan@cmhc-schl.gc.ca