CMHC: February Housing Starts Lower in St. Catharines-Niagara

TORONTO, ONTARIO--(Marketwire - March 8, 2011) - Preliminary data for February 2011 released today by Canada Mortgage and Housing Corporation (CMHC) for the St. Catharines-Niagara Census Metropolitan Area¹ (CMA) show a decline in total housing starts to 48 units from 69 units a year earlier. 

In February, housing starts for single-detached homes increased by 18 per cent compared to the same month last year, as builders broke ground for 39 new single-detached homes compared to 33 in February 2010. Total starts for St. Catharines-Niagara CMA were down 30 per cent in February 2011, mainly because there were few row housing starts. Year-to-date starts declined 50 per cent from January-February 2010. Single-detached homes made up a larger share of total home starts in 2011 compared to last year since these starts held up more than those for other dwelling types.

"Niagara homebuyers like single-detached homes," said Anthony Adrien, Market Analyst with CMHC. "Singles have accounted for nearly 80 per cent of all new construction so far this year, because the easing in demand had a bigger impact on other housing types. We saw less activity in St. Catharines and Lincoln than we did at the same time last year, especially for townhouse construction," added Adrien. 

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.

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

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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.

To view the documents associated with this release, please visit the following links:  

http://media3.marketwire.com/docs/Niagra%20Region%2c%20Monthly%20Housing%20Starts.pdf

http://media3.marketwire.com/docs/Table%201%20-%20Month%20of%20February.pdf