Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2010 08:15 ET

Canada Mortgage and Housing Corporation: New Home Construction Moved Up

LONDON, ONTARIO--(Marketwire - March 8, 2010) - New home starts were up in the London Census Metropolitan Area1 (CMA) in February 2010 according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Compared to February 2009, total starts quadrupled, with single-detached home starts increasing to 150 units from 28 units.

"Single-detached home construction has been on an upward trend since September 2009, on a year-over-year basis" said David Lan, CMHC's London Market Analyst. "The highest increase was observed in the city of London," added Lan.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

Aussi disponible en français

1 Statistics Canada defines a census metropolitan area (CMA) as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000 of which 50,000 or more must live in the urban core. The London CMA includes the cities of London and St. Thomas, the townships of Adelaide Metcalfe, Middlesex Centre, Southwold and Strathroy-Caradoc and the municipalities of Central Elgin and Thames Centre.

February Housing Starts
            % Change
  Single Semi Row Apt Total Singles Total
London City              
  Feb-10 130 0 4 2 136 465% 491%
  Feb-09 23 0 0 0 23    
St. Thomas City              
  Feb-10 10 0 0 0 10 400% 150%
  Feb-09 2 2 0 0 4    
Rest of CMA              
  Feb-10 10 0 0 0 10 233% 233%
  Feb-09 3 0 0 0 3    
London CMA              
  Feb-10 150 0 4 2 156 436% 420%
  Feb-09 28 2 0 0 30    
   
January - February Housing Starts  
            % Change
  Single Semi Row Apt Total Singles Total
London City              
Jan-Feb 10 192 0 9 2 203 276% -21%
Jan-Feb 09 51 0 3 204 258    
St. Thomas City              
Jan-Feb 10 19 0 0 0 19 533% 280%
Jan-Feb 09 3 2 0 0 5    
Rest of CMA              
Jan-Feb 10 16 0 0 0 16 220% 220%
Jan-Feb 09 5 0 0 0 5    
London CMA              
Jan-Feb 10 227 0 9 2 238 285% -11%
Jan-Feb 09 59 2 3 204 268    

Rest of CMA: Central Elgin, Thames Centre, and the Townships of Middlesex Centre, Southwold, Strathroy-Caradoc and Adelaide-Metcalfe

To view the graph associated with this release, click the following link: http://media3.marketwire.com/docs/cmhc0308london.pdf.

Source: CMHC Market Analysis

Contact Information

  • London:
    Canada Mortgage and Housing Corporation
    David Lan
    (519) 873-2426
    dlan@cmhc.ca
    or
    En francais:
    Canada Mortgage and Housing Corporation
    David Lan
    (519) 873-2426
    dlan@schl.ca
    or
    Ontario:
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada:
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799 or mobile: (613) 816-5978
    csauriol@cmhc.ca