New Condos in Burlington Boost Starts

TORONTO, ONTARIO--(Marketwire - May 8, 2012) - Warmer weather meant home builders were busy last month. An increase in the number of single-detached home starts in Hamilton and a new condominium apartment building in Burlington boosted total starts in the Hamilton Census Metropolitan Area (CMA) to more than double the number a year ago, according to preliminary data⁽¹⁾ released today by Canada Mortgage and Housing Corporation (CMHC). There were 546 housing starts last month compared to 219 in April 2011.

"Starts were up across Hamilton and Burlington last month," noted Sarah Fong, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "Condominium apartments in Burlington reflect the trend towards higher density living, but also the limited land available for building low-density housing," added Fong.

Approximately half of all new home starts in April were of semi-detached homes, townhouses, and apartments, and all of them occurred in Hamilton and Burlington. Single-detached starts in Hamilton also doubled last month, because more land has become available for new home development in some of the neighbourhoods on the fringes of Hamilton.

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.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0508hame.jpg.

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