Housing starts up
Posted Jul 9, 2010 02:41:20 PM.
This article is more than 5 years old.
Housing starts in Waterloo Region surged last month.
Canada Mortgage and Housing Corporation reports construction started on 388 homes in June.
That was more than double the 146 starts recorded in June 2009.
CMHC says all types of housing recorded increases, but the charge was lead by apartment construction.
CMHC Senior market analyst Erica McLerie says “Residential construction in the first half of this year was at the highest level in five years.”
The first half of 2010 is now complete and overall starts totalled 1,566, which is up from the 831 units during the same six months last year.
McLerie says concerns about rising interest rates convinced some to get into the housing market now, with locked in mortgage rates.
She says starts were also pushed higher by a tighter re-sale market.
