Posted Jul 12, 2011, 12:38 PM
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Housing Starts Fall 45% Over Last Year [Lisa Grace Marr, Hamilton Spectator, July 12, 2011]
If it wasn’t for the condo kings in Burlington, last month’s home building stats would be a much less encouraging picture, according to figures from the Canada Mortgage and Housing Corporation (CMHC). Data released yesterday shows a rise in starts for condos balanced out a two-thirds decrease in single family housing starts in Burlington. In Hamilton, housing activity slipped by about 9 per cent from June 2010 to June 2011, particularly in single- and semi-detached home construction.
But in fact, growth in housing starts of all types stalled in the Hamilton and Burlington census metropolitan area. CMHC reported in the first five months of this year, the number of total housing starts for Hamilton and Burlington slipped by 45 per cent from 1,790 units in 2010 to 975.
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