Stability for Housing Markets in London

LONDON, ONTARIO--(Marketwire - June 14, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC) Spring Housing Market Outlook report for the London Census Metropolitan Area (CMA), demand for resale homes will increase slightly in 2012. In the new home market, starts will increase in the single-family sector as well as townhouse and apartment construction.

"The resale home market will remain balanced in 2012, with demand coming from repeat buyers. The growing number of baby boomers who are beginning to downsize to apartment and single-detached condominiums are behind the increase in new construction", said Margot Stevenson, CMHC Senior Market Analyst. "Employment levels in London are beginning to increase and, in conjunction with stable mortgage rates, will support housing demand in 2012."

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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