Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 10, 2012 08:15 ET

London New Home Starts Up in June

LONDON, ONTARIO--(Marketwire - July 10, 2012) - New home starts were higher in the London Census Metropolitan Area (CMA) in June according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 490 homes compared to 160 in June of 2011.

"The increase in June activity was not unusual since starts can rise sharply in the month that builders start an apartment building. The reverse is also true," said Margot Stevenson, CMHC's Senior Market Analyst. "Despite the stronger activity last month, year-to-date starts are below the 10-year average for the first half of the year."

New construction four June included 145 single-family homes, six semi-detached homes, 44 townhomes and 295 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.

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

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