London New Home Starts Lower in July

LONDON, ONTARIO--(Marketwire - Aug. 9, 2012) - New home starts were lower in the London Census Metropolitan Area (CMA) in July according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 178 homes compared to 252 in July of 2011.

"The decrease in activity was attributable to the lack of significant apartment construction in July this year versus last year," said Margot Stevenson, CMHC's Senior Market Analyst. "Otherwise, residential construction is in line with last July."

New construction in July included 119 single-family homes, four semi-detached homes, 23 townhomes and 32 apartment units.

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.

To view the tables associated with this press release, please visit the following link:

http://media3.marketwire.com/docs/810999ENG.pdf

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

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