TORONTO, ONTARIO--(Marketwired - April 8, 2016) - Housing starts in the London Census Metropolitan Area (CMA) were trending up slightly at 1,780 units in March compared to 1,732 in February, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

"Single-detached starts continued to trend up, offsetting the downward trend in multi-unit starts. The trend measure for single-detached starts now sits at its highest level in nearly five years. Single-detached starts have grown at the same pace in the City of London and the rest of London CMA. Approximately seven out of every ten consistently occur in the City of London, as buyers remain satisfied with the premium paid to live closer to City of London amenities," said Anthony Passarelli, Senior Market Analyst with CMHC.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The monthly SAAR of total starts was 1,558 units in March, down from 1,723 units in February due to fewer starts of multi-unit homes. Single-detached starts were relatively stable.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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Additional data is available upon request.

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Tables and a graph are available at the following address:

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Media Contact:
Angelina Ritacco