CMHC Says Slow Start to the Year

TORONTO, ONTARIO--(Marketwire - March 8, 2011) - Preliminary data released today by CMHC show that there was a decline in home starts in February in the Hamilton Census Metropolitan Area (CMA), as compared to the same month last year. Total home starts declined by nearly three-quarters to just over 100 starts for the month. The vast majority of the starts were of single-detached homes. They declined by only one-third as compared to a year ago. Single, semi-detached and apartment construction were all down in February, and there was no townhouse construction.

Starts were unusually low during the first two months of this year, particularly in Hamilton and Burlington, after having been unusually high in the first two months of 2010. In Hamilton, there were just over 100 single-detached homes, and 15 townhouses and apartments as compared to over 500 homes of all types during the same period in 2010. In Burlington, a total of 27 single and semi- detached homes were started during January and February, as compared to 10 times that number last year.

"Buyer demand for new housing has declined in recent months following the recovery period in 2010," said Sarah Fong, CMHC's Senior Market Analyst for Hamilton and Brantford. "Also, land scarcity has been an issue in some areas of the CMA," added Fong.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0308hame.jpg.

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed decisions.

Housing Starts February 2011

Hamilton CMA

		February							January - February
		Single	Semi	TH	Apt	Total	% Chg		Single	Semi	TH	Apt	Total	% Chg
Hamilton CMA
	Feb-11	86	4	0	12	102	-72.6	%	150	4	3	12	169	-79.6	%
	Feb-10	124	34	82	132	372			217	48	188	377	830
Burlington
	Feb-11	9	4	0	0	13	-68.3	%	23	4	0	0	27	-90.0	%
	Feb-10	6	28	7	0	41			14	42	32	182	270
Hamilton
	Feb-11	66	0	0	12	78	-74.7	%	109	0	3	12	124	-76.5	%
	Feb-10	95	6	75	132	308			170	6	156	195	527
Grimsby
	Feb-11	11	0	0	0	11	-52.2	%	18	0	0	0	18	-45.5	%
	Feb-10	23	0	0	0	23			33	0	0	0	33
Halton Hills
	Feb-11	4	0	0	0	4	-63.6	%	9	2	0	0	11	-80.4	%
	Feb-10	11	0	0	0	11			26	0	30	0	56
Milton
	Feb-11	74	0	44	56	174	114.8	%	181	0	57	56	294	-4.2	%
	Feb-10	59	0	22	0	81			265	20	22	0	307
Oakville
	Feb-11	8	0	4	0	12	-47.8	%	11	0	4	0	15	-78.9	%
	Feb-10	5	0	18	0	23			11	0	60	0	71

Source: CMHC

*Hamilton Census Metropolitan Area (CMA) includes the City of Hamilton, Burlington, and Grimsby. Statistics Canada defines a CMA as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000.

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