Apartment, Row House Building Boom Driving Local Home Construction

  • 07/12/19
  • |          London

Small homes are having a big impact in London and area.

Apartment and row house construction continued in June to set a torrid pace in London and region, with 1,077 starts from January to June, compared to 787 during the same period last year.

“Row and apartment starts pushed the housing starts trend higher in June. These dwelling types have been the most significant contributors to housing starts growth this year, more than offsetting the decline in single-detached starts,” said Andrew Scott, a senior analyst with the Canadian Mortgage and Housing Corporation.

“Rising ownership costs are shifting new housing demand toward relatively more affordable dwellings, many of which are rental apartments.”

In total, the city is trending toward 3,273 units being built by year’s end, compared to 2,765 in May, states a forecast from CMHC.

In June the total number of housing starts in the London area was 442, of which 311 were multiples such as row housing or apartments, down from 610 starts in the same month a year ago, of which 480 were multiples, the figures stated.

The single detached building starts were stable, with 131 starts last month compared to 130 in June 2018.

Since January, work began on 519 single-family homes, compared to 718 in June, 2018.

In total, work began on 1,596 homes from January to June this year compared to 1,505 in June, 2018.

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