London New Home Starts Lower in January

LONDON, ONTARIO--(Marketwire - Feb. 8, 2012) - New home starts were down in the London Census Metropolitan Area (CMA) in January according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 95 homes compared to 243 in January 2011.

"Residential construction was lower because builders started a large apartment building in January last year, but there were no apartment starts last month," said Margot Stevenson, CMHC's Senior Market Analyst. "Single-detached housing starts were actually off to a positive start at 76 homes, not far removed from the 10 year average of 81 homes for January."

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642.

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