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Winnipeg Real Estate Market (January 2012)

Winnipeg housing starts increase in January

Winnipeg, February 8, 2012 – According to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC), home builders in the Winnipeg Census Metropolitan Area (CMA) began construction on 348 units in January, up from 122 in January 2011. The increase occurred in both the single-detached and multi-family sectors.

The Winnipeg CMA recorded 136 single-detached starts last month, 18 per cent more than the 115 started in January 2011. “This represents the fourth consecutive month of year-over-year increases,” noted Dianne Himbeault, CMHC’s Senior Market Analyst based in Winnipeg. “The favourable weather has allowed single-detached builders to maintain their momentum into 2012,” she added.

The multi-family sector, which includes semi-detached units, rows, and apartments, saw 212 units break ground in January, substantially more than the 7 units started one year earlier. “Multi-family housing is also maintaining momentum, with demand coming from Winnipeggers looking for rental housing as well as first-time buyers and empty-nesters looking for condominiums,” added Himbeault.

As Canada's national housing agency, CMHC draws on more than 65 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.

Source: Canada Mortgage and Housing Corporation

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