Kingston Starts Increased in the Fourth Quarter of 2011

KINGSTON, ONTARIO--(Marketwire - Jan. 10, 2012) - According to the latest preliminary data released by Canada Mortgage and Housing Corporation (CMHC), total housing starts in the Kingston Census Metropolitan Area (CMA) were 376 units in the fourth quarter of 2011, up from 181 units in the fourth quarter of 2010.

Meanwhile, single-detached housing starts decreased by six per cent between October and December of 2011 compared to 2010. Consequently, the total number of single-detached housing starts for 2011 reached 467 units, down from 522 units in 2010.

"The strong housing starts performance this fourth quarter was led by a surge in apartment units, fuelled by historically low vacancy rates," said Abdul Kargbo, CMHC's Kingston Market Analyst.

"Row or townhouses finished the year on a high note as many first-time homebuyers shifted demand towards less expensive ownership housing."

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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