September 24, 2024

The housing market in the London, Ontario area saw a remarkable surge in August 2024, with housing starts more than tripling compared to the same month in 2023. According to the Canada Mortgage and Housing Corporation (CMHC), 470 housing units were initiated in August, a significant jump from the 151 units recorded in August 2023. This 211% increase places London as the third-highest region in Ontario for new housing starts, trailing only Oshawa and Peterborough. Mayor Josh Morgan attributes this growth to improved economic conditions and strategic planning by the city council. He noted that, despite the economic challenges of