Snow Storm Slows December Starts

LONDON, ONTARIO--(Marketwire - Jan. 11, 2011) - New home starts were lower in the London Census Metropolitan Area⁽¹⁾ (CMA) in December 2010 according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). However, in the year ending in December 2010, single-detached home starts were up nearly forty per cent compared to 2009.

"The snow storm in December caused builders to postpone some starts," said David Lan, CMHC's London Market Analyst. "However, the increase in annual single-detached home starts was a positive note, given the low level recorded last year. The gain in single-detached home starts also offset some of the decline in apartment starts," 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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⁽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.