Red-hot April boosts local home construction sector

After a winter drought in apartment construction, new home construction in the London area got a big boost in April.

The Canada Mortgage and Housing Corporation (CMHC) reports there were 367 housing starts in London-St. Thomas last month, up from 174 in the same month last year and the highest total for the month since 1989.

The biggest factor was a revival in the multi-family sector with 147 apartment units and 64 rowhouses. But single-family starts were also strong, with 154 units last month compared to 136 in April 2017.

CMHC analyst Andrew Scott said it was the first significant upturn in London area housing starts in five months.

Although down from last year’s peak, he said overall housing starts are still relatively strong, because of the steep drop in listings in the resale market that’s pushing more buyers into the new home market.

“Strong spillover demand from a tight resale market has kept construction robust,” Scott said.

After a record year in 2017, overall housing starts were down substantially in the first quarter of this year because no large apartment projects got underway, although a number are in the planning stages.

Single-family starts, a more reliable market indicator, are in good shape with 446 units this year, compared to 431 last year.

But even with the April boost, multi-family starts are still lagging well behind 2017.

As a result, there have only been 710 overall housing starts so far this year, compared to 1,148 in the first four months of 2017.

Across Canada, the estimated annualized number of housing starts dipped to 214,400 in April, after a strong two-month run.

In Ontario, the estimated annual starts fell to 70,000 in April, down from 74,900 the previous month.

BMO economist Robert Kavcic said overall housing starts in Ontario and British Columbia are still close to peak levels and could soon spike again.

“The supply is getting gobbled up, with high-rise inventories in Toronto, for example, probing cycle lows,” said Kavcic.

Read more news of London on our site.
Red-hotApril homeconstructionsector
If you notice an error, highlight the text you want and press Ctrl + Enter to report it to the editor
1 view in january
I recommend
No recommendations yet


Post your comment to communicate and discuss this article.

A man has been tasered and arrested by police at a train station in south London. The 59-year old is currently being questioned on suspicion of attempted murder and possession of an offensive weapon after being detained at Tulse Hill. British Transport Police officers were called to the station just after 6:30pm to reports of someone carrying a knife. Nobody was injured and the arrest is not believed to be terror related. Witnesses are being urged to conta...
A mother has died and her eight-month-old boy is in hospital after being hit by a car as they crossed a road. The woman, believed to be in her 20s, was pushing a pram when they were hit in Anerley, south London, last night. The boy is in a serious condition after suffering from life-threatening injuries. The driver of the car that is believed to have hit them was also taken to hospital for non-life-threatening injuries and is helping police with their inqu...
News Company
Breaking up with your partner is always a disastrous event. However, if your partner decides to break up with you, it isn’t necessarily the end. Statistically 66% of exes want to get back together again. 50% of separated couples reunite. Here we will show you tips on how to fix a broken relationship. If you want to find your love you must realize that it is all about respect and understanding your beloved one.  Accepting The Situation  You have to calm dow...
A Londoner who used to contemplate suicide on his morning commute is now running the length of every Tube line to raise money for a mental health charity. Daniel Sherry, 29, quit his sports PR job in April 2018 and set about completing “30 challenges before 30”, including running his first marathon and cycling from London to Paris. His latest exploit is seeing him traverse all 11 lines of the capital’s 249 mile-long underground network above ground, on foo...
The family of London teenager Jayden Moodie say he had no links to gangs and was "murdered in cold blood". Jayden Moodie, 14, was stabbed to death by attackers who knocked him off a moped in Leyton on Tuesday in what police believe was a targeted attack. The teenager had moved from Nottingham to London with his mother six months ago for a "new start". No arrests have been made over Jayden's death, the Met Police has said. Speaking near to the scene where J...
A clubber who ploughed his car onto a packed dance floor in a drink and drug-fuelled rage after being thrown out by bouncers has been jailed for 28 years. Mohammed Abdul said he felt “humiliated” after being ejected from Blake’s nightclub in Gravesend, Kent, on March 17 last year. He drank at least 15 glasses of vodka, tequila shots and more than “five to 10 spliffs” of cannabis before he got behind the wheel of his Suzuki Vitara. Bouncers had kicked him o...
More than 100,000 spectators will descend on central London to watch the Mayor’s firework display tonight as the capital gears up for New Year’s Eve. Barriers have been put in place lining the streets ahead of the display, which has sold out. Fences have also been erected around fountains at Trafalgar Square ahead of Tuesday’s New Year’s Day parade. Tickets are no longer available but the display is visible from Greenwich Park, Hampstead Heath, Vauxhall Br...
A council has launched a major crackdown on litter louts in a bid to become London’s “cleanliness capital”. Barking and Dagenham has created a 10-strong team of officers to patrol the streets and issue £75 on-the-spot fines to offenders.  The borough has also launched a “grime crime” YouTube series, aimed at identifying fly-tippers caught on CCTV. In the first week of the operation, which launched in the last week of November, the enforcement team issued 4...
Hundreds of people have lost belongings after a self-storage warehouse was destroyed in a large fire. Dozens of firefighters are continuing to tackle the fire at the south London building, which has 1,198 rented units. At height of the blaze on New Year's Eve, the whole of the four-storey Shurgard store in Purley Way, Croydon, was alight, with up to 120 firefighters tackling it. Customers were told it was "highly unlikely" any items would be salvaged. Abou...