Townhouses Led Starts in Hamilton

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2012) - Total starts in the Hamilton Census Metropolitan Area (CMA) rose by 55 per cent in December of 2011 as compared to a year earlier. A surge in townhouse starts in each of Hamilton, Burlington, and Grimsby led to the rise in starts last month. Townhouse starts more than tripled in the CMA, with the majority of these homes concentrated in Hamilton and Grimsby. In addition to the rise in townhouse starts, semi-detached starts and apartment starts also increased in December. At the same time, single-detached starts fell by 20 per cent across the CMA.

Despite the surge in starts last month, total starts for 2011 were down by 30 per cent. Starts declined for all home types, although the change in starts varied by municipality. In Burlington, starts of semi-detached homes, townhouses and apartments fell, but single-detached homes rose. In Hamilton, starts fell for all home types except for apartments, of which more than half were rental. In Grimsby, townhouse starts drove total starts up by more than 20 per cent.

"Stronger townhouse starts in all three municipalities of the Hamilton CMA raised December starts," said Sarah Fong, CMHC Senior Market Analyst for the Hamilton and Brantford area. "Starts for the year, however, were down and continued to reflect cool market conditions."

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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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