Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2010 08:15 ET

Construction Moved Down

LONDON, ONTARIO--(Marketwire - Sept. 9, 2010) - New home construction moved down in the London Census Metropolitan Area(1) (CMA) in August according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). While detached home starts increased by seven percent, the absence of apartment starts this month meant total starts were down.

"A high rental vacancy rate slowed apartment starts in the London CMA," said David Lan, CMHC's London Market Analyst. "However, detached home starts have held up, supported by spill-over demand from the resale market earlier this year," 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.

August Housing Starts  
   
            % Change  
  Single Semi Row Apt Total Singles   Total  
London City                  
  Aug-10 88 0 14 0 102 -2 % -65 %
  Aug-09 90 0 23 182 295        
St. Thomas City                  
  Aug-10 11 4 0 0 15 -21 % -25 %
  Aug-09 14 0 0 6 20        
Rest of CMA                  
  Aug-10 32 0 0 0 32 68 % 68 %
  Aug-09 19 0 0 0 19        
London CMA                  
  Aug-10 131 4 14 0 149 7 % -55 %
  Aug-09 123 0 23 188 334        
   
January - August Housing Starts  
   
            % Change  
  Single Semi Row Apt Total Singles   Total  
London City                  
Jan-Aug10 842 2 99 433 1,376 114 % 35 %
Jan-Aug09 394 2 59 567 1,022        
St. Thomas City                  
Jan-Aug10 82 10 0 2 94 58 % 47 %
Jan-Aug09 52 6 0 6 64        
Rest of CMA                  
Jan-Aug10 157 2 0 0 159 48 % -53 %
Jan-Aug09 106 2 48 182 338        
London CMA                  
Jan-Aug10 1,081 14 99 435 1,629 96 % 14 %
Jan-Aug09 552 10 107 755 1,424        
Rest of CMA: Central Elgin, Thames Centre, and the Townships of Middlesex Centre, Southwold, Strathroy-Caradoc and Adelaide-Metcalfe  

To view the chart associated with this press release, please visit the following link: http://media3.marketwire.com/docs/cmhc0909london.pdf.

Source: CMHC Market Analysis

(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.

Contact Information

  • For additional information please contact / Pour obtenir de
    plus amples renseignements, veuillez communiquer avec:
    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