Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2010 08:15 ET

London Starts Continued to Move Down

LONDON, ONTARIO--(Marketwire - Dec. 8, 2010) - New home starts continued to move down in the London Census Metropolitan Area(1) (CMA) in November according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Total starts were down by 28 per cent due to a decrease in single-detached home starts compared to the same month in 2009. However, the year-to-date single starts were up by 48 per cent.

"Single-detached home starts were down for the third consecutive month," said David Lan, CMHC's London Market Analyst. "Builders started most detached homes during the first half of 2010. With more choices in the resale market during the second half of the year, buyers were able to find what they want in resale, which caused detached home construction to slow since September this year," 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.

Aussi disponible en français

(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.

November Housing Starts  
            % Change  
  Single Semi Row Apt Total Singles   Total  
London City                  
  Nov-10 58 2 19 0 79 -37 % -26 %
  Nov-09 92 0 13 2 107        
St. Thomas City                  
  Nov-10 11 0 0 0 11 -8 % -39 %
  Nov-09 12 0 0 6 18        
Rest of CMA                  
  Nov-10 15 0 0 0 15 -29 % -29 %
  Nov-09 21 0 0 0 21        
London CMA                  
  Nov-10 84 2 19 0 105 -33 % -28 %
  Nov-09 125 0 13 8 146        
   
January - November Housing Starts  
            % Change  
  Single Semi Row Apt Total Singles   Total  
London City                  
  Jan-Nov 10 1,047 6 145 433 1,631 56 % -3 %
  Jan-Nov 09 673 4 119 879 1,675        
St. Thomas City                  
  Jan-Nov 10 123 10 0 2 135 41 % 5 %
  Jan-Nov 09 87 24 0 18 129        
Rest of CMA                  
  Jan-Nov 10 218 2 0 0 220 23 % 19 %
  Jan-Nov 09 177 -16 24 0 185        
London CMA                  
  Jan-Nov 10 1,388 18 145 435 1,986 48 % 0 %
  Jan-Nov 09 937 12 143 897 1,989        
 
Rest of CMA: Central Elgin, Thames Centre, and the Townships of Middlesex Centre, Southwold, Strathroy-Caradoc and Adelaide Metcalfe

Source: CMHC Market Analysis

To view the graph associated with this release, please visit the following link:
http://media3.marketwire.com/docs/cmhc1208london.jpg.

Contact Information

  • For additional information please contact / Pour obtenir de
    plus amples renseignements, veuillez communiquer avec :
    London: Canada Mortgage and Housing Corporation
    David Lan
    (519) 873-2426
    dlan@cmhc.ca
    or
    En francais : Canada Mortgage and Housing Corporation
    David Lan
    (519) 873-2426
    dlan@schl.ca
    or
    Ontario: Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada: Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799 or mobile: (613) 816-5978
    csauriol@cmhc.ca