Niagara Region 2006 Housing Starts

Posted in Real Insights | May 11, 2007

Did you know that according to Canada Mortgage and Housing Corporation, total new housing starts in the Niagara region are just about even (-1%) for 2006 vs 2005? Analyst David Lan says, “Relatively low home carrying costs and positive in-migration continue to fuel demand for home ownership.” In Niagara-on-the-Lake, there have been 99 new home starts in 2006 so far, compared to 164 in the same period last year. About 2/3 are single detached homes and 1/3 are multiple homes. Downward pressure on new home starts can come from factors such as a shortage of available land and the existing inventory of resale and new homes for sale. (September 16, 2006)