Single-Detached Homes Push Up Barrie Starts

TORONTO, ONTARIO--(Marketwire - Oct. 11, 2011) - Canada Mortgage and Housing Corporation (CMHC) released preliminary third quarter 2011 new home construction figures for the Barrie Census Metropolitan Area(1) (CMA) today. Builders started 188 homes in the most recent quarter, up from the 147 starts in the third quarter of 2010. Single-detached homes and row houses represented almost all of new construction. Only one semi-detached start and no apartment starts occurred this quarter.

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"Total starts are up from a year ago mainly because single-detached development was stronger," commented CMHC's Barrie Market Analyst, Edgard Navarrete. "Buyers are taking advantage of low mortgage rates and slower growth in prices of new single-detached homes," added Navarrete.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of 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 vital decisions.

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For more information, 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.