CMHC: Kingston Housing Starts Increased in Fourth Quarter 2011
According to preliminary data from the Canada Mortgage and Housing Corporation (CMHC), 376 total housing starts were recorded for Kingston in the fourth quarter of 2011, a significant increase from the 181 started within the same period in 2010.
Single-detached housing starts were down 6% in the fourth quarter of 2011 compared with a year earlier, with a total of 467 constructed in 2011 and 522 recorded in 2010.
“The strong housing starts performance this fourth quarter was led by a surge in apartment units, fueled by historically low vacancy rates,” said CMHC’s Kingston Market Analyst, Abdul Kargbo. “Row or townhouses finished the year on a high note as many first-time home buyers shifted demand towards less expensive ownership housing.”
CMHC has over 65 years of experience as the country’s national housing agency, helping Canadians access a range of quality, environmentally sustainable and affordable housing solutions. It also strives to provide reliable, impartial and current 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.
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Photo: Concrete Forms
Category: News
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