Canada Mortgage Housing Corporation and Waterloo Region

Erica McClary: Erica McClary, a Kitchener-Waterloo market analyst, said there are many factors contributing to the increase, including a strong demand for single-detached houses, combined with increasing incomes, according to CBC. As well, many people are beginning to move from the GTA to the Waterloo region, where housing costs are lower. According to the Canada Mortgage and Housing Corporation, last year 995 semi-detached houses were built in the region, and this year they are expecting between 1000 and 1100 houses to be built. McClary said average home in Toronto costs upwards of $650,000, whereas a typical house in the Waterloo region costs less than $350,000. Last year, there were 2217 new units created, while this year the CMHC expects between 1800 and 2000 units to be built, which includes apartments, townhouses and semi-detached homes. No more student-housing needed Although semi-detached house construction is on the rise, there will be slightly fewer apartments being built than last year, which is largely due to the amount of student housing that is already available. (www.immigrantscanada.com). As reported in the news.