London New Home Starts Up in May

LONDON, ONTARIO--(Marketwire - June 8, 2012) - New home starts were higher in the London Census Metropolitan Area (CMA) in May according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 155 homes compared to 145 in May of 2011.

"Recent gains in employment and a tightening in the resale market have turned more homebuyers to the new home market," said Margot Stevenson, CMHC's Senior Market Analyst. "Single family construction has picked up, but less apartment construction so far this year has brought the number of total starts down year-to date."

In addition to single-detached homes throughout the CMA, new construction for May included four semi-detached homes, 27 townhomes and two 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.

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

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