Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2010 08:15 ET

New Home Construction Slowed in September

LONDON, ONTARIO--(Marketwire - Oct. 8, 2010) - New home starts moved down in the London Census Metropolitan Area(1) (CMA) in September according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 125 homes in September 2010, down from 131 units in the same month in 2009. However, year-to-date numbers remained strong with 74 per cent increase in detached home starts compared to the same period in 2009.

"New home construction appears to have lost some of its momentum" said David Lan, CMHC's London Market Analyst. "With the resale market cooling off, there was less spill-over demand to the new home market."

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.

For housing forecasts that will inform your business strategy in 2011, attend your local housing market outlook session this November. Visit www.cmhc.ca/conferenceregistration for complete details.

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.

To view the "September Housing Starts and January-Sept Housing Starts" table, please visit the following link:

http://media3.marketwire.com/docs/cmaON.pdf

To view the "Total Housing Starts - London CMA" graph, please visit the following link:

http://media3.marketwire.com/docs/hmalon.pdf

Contact Information

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