LONDON, ONTARIO--(Marketwire - April 8, 2011) - New home starts were lower in the London Census Metropolitan Area¹ (CMA) in March according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 77 residential units compared to 155 in March 2010.

"New home construction in London is moving to align with economic and demographic fundamentals," said David Lan CMHC's Senior Market Analyst for the London CMA. "New home starts in London have exceeded growth in the number of households in the past, and have now adjusted downward. Moreover, a well supplied resale market and soft employment conditions also contributed to fewer starts," 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.

To view the tables accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/starts1.pdf

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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.