THUNDER BAY – Business – That warm fall weather has helped boost home construction in Thunder Bay. The weather has been cooperating thus far this autumn which bodes well for the construction season continuing well until the end of the year,” stated Warren Philp, CMHC’s Northern Ontario Market Analyst.
According to preliminary data released by Canada Mortgage and Housing Corporation (CMHC), the 22 single-detached starts in October were three units ahead of the 10 year average in Thunder Bay for the month of October. “With two months remaining in the year, single-detached starts will be hard pressed to top the 204 counted in 2010. Meanwhile total starts are much higher due to the strength of higher density starts,” continued Philp.
The 186 units of higher density housing started in the first ten months of 2011 compares to only 14 for the same period last year. “The 348 total units started thus far in 2011 are nearly 80 per cent higher than the 195 units begun for the same period one year ago,” advised Philp.