Housing starts drop
Posted Oct 8, 2010 04:40:08 PM.
This article is more than 5 years old.
A drop in townhome building starts and a complete absence of apartment starts drove down overall housing starts in Waterloo Region last month.
Canada Mortgage and Housing Corporation says starts totalled 145, down from 160 in the same month last year.
CMHC says the overall decline came despite the fact there were more starts for detached and semi-detached homes in the region.
Only two municipalities in the region saw increases: Kitchener and Woolwich Township.
Despite the lower numbers, CMHC Senior Market Analyst Erica McLerie does say “total starts for 2010 will exceed the level recorded in 2009.”
As well, she forecasts “With an improving local economy and increased migration, there will be demand for new homes.”
