New Home Starts Up in London

LONDON, ONTARIO--(Marketwire - July 11, 2011) - New home starts moved higher in the London Census Metropolitan Area¹ (CMA) in June according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 162 homes compared to 141 in June 2010.

"Detached home starts increased on a year-over-year basis for the first time since August 2010, but the year-to-date numbers remained low compared to the same period last year," said David Lan, CMHC's Senior Market Analyst "Less selection in the resale market during the winter months translated into more starts now," added Lan.

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed decisions. For more information visit www.cmhc.ca or call 1-800-668-2642.

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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 Housing Starts table, please visit the following link: http://media3.marketwire.com/docs/lon68e.pdf