January Housing Starts Lower in Kitchener

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2011) - Canada Mortgage and Housing Corporation (CMHC) released January preliminary housing starts data for the Kitchener-Cambridge-Waterloo Census Metropolitan Area⁽¹⁾ (CMA) today. Construction began on 177 homes, down from the 221 units started in the same month last year.

Foundations were poured for 93 single-detached homes in January, up slightly from the 91 units started in January 2010. Starts for all other types of housing were lower in January. Townhome starts declined to 11 units, down from 21 units last January, while apartment construction declined to 73 units from the 95 units started a year ago. Of these apartment units, 32 were condominium and 41 rental. Only the City of Cambridge recorded higher starts in January.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0208kit.jpg.

"Demand has slowed from the strong levels in the first half of 2010, resulting in lower construction," said Erica McLerie, Senior Market Analyst for the Kitchener CMA. "Low mortgage rates continued to keep mortgage carrying costs in line. On the other hand, there was less spill-over from a resale market that is more balanced," 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.

⁽¹⁾ 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.

HOUSING STARTS - KITCHENER CMA

YEAR-OVER-YEAR COMPARISON - MONTH OF JANUARY AND YEAR-TO-DATE

		Single	Semi	TH	Apt	Total	% Chg				Single	Semi	TH	Apt	Total	% Chg
Cambridge City									Cambridge City
	January 2011	44	0	0	0	44	158.8	%		YTD '11	44	0	0	0	44	158.8	%
	January 2010	11	2	0	4	17				YTD '10	11	2	0	4	17
Kitchener City									Kitchener City
	January 2011	33	0	5	32	70	-32.7	%		YTD '11	33	0	5	32	70	-32.7	%
	January 2010	53	12	9	30	104				YTD '10	53	12	9	30	104
Waterloo City									Waterloo City
	January 2011	3	0	6	41	50	-35.9	%		YTD '11	3	0	6	41	50	-35.9	%
	January 2010	17	0	0	61	78				YTD '10	17	0	0	61	78
Woolwich Twp.									Woolwich Twp.
	January 2011	11	0	0	0	11	-45.0	%		YTD '11	11	0	0	0	11	-45.0	%
	January 2010	8	0	12	0	20				YTD '10	8	0	12	0	20
North Dumfries Twp.									North Dumfries Twp.
	January 2011	2	0	0	0	2	0.0	%		YTD '11	2	0	0	0	2	0.0	%
	January 2010	2	0	0	0	2				YTD '10	2	0	0	0	2
KITCHENER CMA(2)									KITCHENER CMA(2)
	January 2011	93	0	11	73	177	-19.9	%		YTD '11	93	0	11	73	177	-19.9	%
	January 2010	91	14	21	95	221				YTD '10	91	14	21	95	221

Source: CMHC

(2) Kitchener CMA includes Kitchener, Waterloo, Cambridge, Woolwich and North Dumfries

For more information, visit www.cmhc.ca or call 1 800 668-2642.

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