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London Home Starts Higher in November
According to preliminary figures released today, new home starts were up in the London area in November.
Total starts increased by 32 per cent due to a 58 per cent increase in single-detached starts comparted to the same month in 2008. According to the Canada Mortgage and Housing Corporation (CMHC), year-to-date starts were still down about 15 per cent.
"For the third consecutive month, single-detached home construction was up from its level a year ago," said David Lan, CMHC's London Market Analyst. "Construction outside of the city appears to be gaining momentum as well."
Across the province, home starts fell slightly last month. An estimated 51,100 residential housing units broke ground in November, down from 55,700 units in October.
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