The London area saw another increase in new home construction in May.
According to the Canada Mortgage and Housing Corporation, work began on a total of 443 new homes last month. That compares to 215 in May of last year.
The biggest increase was in apartment starts. Figures released by the CMHC show apartment construction nearly tripled in May compared to the same month in 2014.
“Starts of all dwelling types trended up in May, with the exception of semi-detached starts, for which the trend was stable," says Anthony Passarelli, Senior Market Analyst with CMHC. "The greatest growth was in apartment starts. A number of apartment projects have started in the City of London over the past six months, including some larger structures having greater than 100 units. Demand is strong for units in these new, large structures as they have the most modern amenities and provide the convenience of living steps from public transit and shopping malls."
So far this year, work has begun on 913 new homes in the London area. At this time last year, that figure was 565.
