Real Estate — November 6, 2012

London Housing Market to Remain Steady in 2012

LONDON, ONTARIO--(Marketwire - Nov. 6, 2012) - Housing demand in the London Census Metropolitan Area (CMA) will be slightly stronger than in Ontario as a whole as London will continue to benefit from employment growth and a relatively affordable housing market, according to Alexander Bonnyman, Canada Mortgage and Housing Corporation's (CMHC) Senior Market Analyst for London. CMHC presented its latest forecast for the London CMA today at the annual CMHC Housing Outlook Seminar.

This year's seminar, entitled, 'How does London measure up?' had market analysts use local CMHC data to answer questions, housing-industry professionals hear every day - addressing Londoners' housing-related concerns.

"London's housing market in 2013 is shaping up to be very similar to 2012 results," said Alexander Bonnyman, CMHC's London Market Analyst. "2013 will start at a slower pace than a year prior but activity will pick up in the latter half of the year as employment responds to strengthening US demand."

Highlights from today's seminar include:

  • Resale activity in 2013 will slow slightly from a year prior although sales and average price performance in the London CMA will be slightly stronger than in Ontario as a whole.
  • The pace of starts is expected to slow slightly overall although single-detached starts will remain on par with the 2012 level.
  • Improving labour market conditions in the second half of 2013 will be supportive of housing demand.

"Larger urban Ontario centres have been capturing a growing share of housing activity in recent years. A gradual shift in housing activity is expected as smaller urban housing markets hold up relatively better in 2013," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist. "Housing markets in Windsor, Thunder Bay, Sudbury and London will outperform thanks to an ongoing US economic recovery, relatively more affordable housing and residential construction that is better in line with household formation".

London's Housing Market Outlook report was also released today by CMHC. This forecast document provides the foundation for the detail provided at the Housing Outlook Seminar and can be accessed here: Housing Market Outlook - London.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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.

Contact Information

Media inquiries:
CMHC
Alexander Bonnyman
Senior Market Analyst
416-250-2710
abonnyma@cmhc.ca

CMHC
Leslie Pawlowski
Communications and Marketing
416-250-3297
lpawlows@cmhc.ca
www.cmhc.ca

Print

Latest Industry Press Releases

Updated 15:49 EDT, April 17, 2014  

Construction/Building

CanWel Building Materials Announces First Quarter 2014 Financial Results Notification (2014-04-17)

Greater Toronto Realtors(R) Report Mid-Month Resale Housing Statistics (2014-04-17)

Black Diamond Group Limited Announces April Dividend (2014-04-17)

Black Diamond Group Sets First Quarter 2014 Results Date and Time (2014-04-16)

Scotiabank: Canada's Housing Market Transitioning to Slower Growth (2014-04-16)

Artis Real Estate Investment Trust Announces Quarterly Cash Distribution (2014-04-15)

Artis Real Estate Investment Trust Announces Monthly Cash Distribution (2014-04-15)

Greater Toronto Realtors(R) Report Q1 Condominium Market Statistics (2014-04-15)

Greater Toronto Realtors(R) Report Q1 Rental Market Statistics (2014-04-15)

Media Advisory: Scotiabank Real Estate Market Outlook Conference (2014-04-15)

Innovative Composites International Inc. Announces Closing of Debenture Offering (2014-04-14)

New Affordable Housing Open in Regina (2014-04-14)

De nouveaux logements abordables ouvrent leurs portes à Regina (2014-04-14)

Governments of Canada and New Brunswick Celebrate New Affordable Housing in Saint John (2014-04-14)

Toromont to Announce First Quarter 2014 Results on April 24 (2014-04-11)

Avis aux médias : De nouveaux logements locatifs abordables ouvrent leurs portes à Regina (2014-04-11)

New Emergency Shelter in Melfort (2014-04-11)

Media Advisory: Canada Mortgage and Housing Corporation (2014-04-11)

Media Advisory: New Affordable Rental Housing Opens in Regina (2014-04-11)

Nouvelle maison d'hébergement d'urgence à Melfort (2014-04-11)

Avis aux médias : Nouvelle maison d'hébergement d'urgence à Melfort (2014-04-10)

Delavaco Residential Properties Corp. Begins Trading on OTCQX (2014-04-10)

Lamb Development Corp. Announces the Release of Their Latest Development, The Harlowe (2014-04-10)

Superior Plus Announces April 2014 Cash Dividend and Upcoming Events (2014-04-10)

Media Advisory: New Emergency Shelter in Melfort (2014-04-10)

MOST POPULAR STORIES
TODAY’S TOP CONSTRUCTION PROJECTS

These projects have been selected from 481 projects with a total value of $2,274,238,471 that Reed Construction Data Building Reports reported on Wednesday.

CONDOMINIUM, RETAIL AND OFFICE DEVELOPMENT

$150,000,000 Ottawa ON Negotiated

ROADWORK, DRAINAGE, BRIDGE

$135,000,000 Toronto ON Tenders

ROADWORK, DRAINAGE, BRIDGE

$82,000,000 Toronto ON Tenders

Daily Top 10