A new report suggests London is falling behind when it comes to housing starts. That’s despite a rapid rise in building permits issued in the city in the past year.
“London’s kind of in the middle of the pack. We’re not doing too badly, but there’s certainly I think room for improvement,’ explained economist Mike Moffatt, the Founding Director of the Smart Prosperity Institute.
The Ontario based economic think tank has released a report ranking the 100 biggest cities and towns in Canada on their homebuilding record over the last six years. It shows London’s rank at number 47, despite its ballooning population.
According to the report, London averaged 37 housing starts per 1,000 residents in the six-year period beginning July 1, 2018. That compares with number one ranked Burnaby, B.C., which recorded 91.8 housing starts per 1,000 residents.
Moffatt said London’s middle of the pack position in the rankings …