Source: Canadian Mortgage and Housing Corporation (CMHC)
As the population of Hamilton continues to grow, it is forecasted that there will be a steady increase in demand for dwellings to accommodate that growing population. The collection and analysis of housing starts data provides insight into the ability of Hamilton to accommodate that forecasted population growth, and the demand for new houses by current and future citizens.
Story behind the numbers
There have been material fluctuations in annual housing starts over the past five years. This fluctuating trend is reflective of a complex sector. Factors affecting housing starts include availability of shovel ready lands, and demand and absorption for housing in the existing urban areas.
Key indicators such as employment rates, housing starts and building permit values are but some key indicators of performance improvement. But even more so, the Economic Development Office, through its award-winning corporate calling program, works to measure other key economic measures like the rate of corporate expansion, hiring rates, and expanding markets for Hamilton based products and services.
Economic Development works with divisions like Planning and Growth Management and Departments like Public Works to ensure that the growing economy provides for sustainable, well planned neighbourhoods for the employees of the over 27,000 businesses in Hamilton.
CMHC Housing Starts
|# of Housing Starts||2209||1828||2136||1462||2119|
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