Home construction in the Sudbury market continued to sizzle in August, according to statistics released by the Canada Mortgage Housing Corp.
The CMHC reported 34 new housing starts last month, more than double the units built during August 2001.
Overall, during the January to August period of this year, 186 new homes were constructed compared to 116 during the same period last year. As one of the fastest growing urban centres in the province for year-to-year percentage increase, Sudbury is predicted by CMHC to top 230 new units this year.
The number of building permits issued in August was down slightly from the year before, 30 in August from 34 in August 2001, but through the first eight months of 2002 was still 42 per cent higher than last year.
Continuing low mortgage rates are cited as a major contributing factor.
