London Starts Begin 2011 on a Positive Note

LONDON, ONTARIO--(Marketwire - Feb. 8, 2011) - New home starts were higher in the London Census Metropolitan Area⁽¹⁾ (CMA) in January according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). The foundation was laid for a high-rise apartment building with nearly 200 units, which offset the decline in single-detached home starts.

"Despite the bad weather, January turned out to be strong month for starts with a large apartment project getting underway," said David Lan, CMHC's London Market Analyst. "Single-detached home starts were down, so possibly the weather had a bigger impact here," 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.

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Rest of CMA: Central Elgin, Thames Centre, and the Townships of Middlesex Centre, Southwold, Strathroy-Caradoc and Adelaide-Metcalfe

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.