Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2010 08:15 ET

Canada Mortgage and Housing Corporation: Ontario Multi Family Housing Starts Grow in February

TORONTO, ONTARIO--(Marketwire - March 8, 2010) - Despite inclement weather later in the month, Ontario preliminary Seasonally Adjusted Annual Rate (SAAR) of home starts across urban* areas jumped in February. An estimated 68,400 residential housing units broke ground, up from 53,200 units in January. The volatile multi family home construction sector, which includes semi detached, row and apartment dwellings, led increases in construction activity. Ontario residential construction activity has trended higher since the first quarter of last year.

"The construction of modestly priced multi-family housing dropped to one of its lowest levels in the past decade in January and made up for lost ground last month," said Ted Tsiakopoulos, CMHC's regional economist. "While home starts will moderate closer to trend in the next few months, the Ontario new home construction industry will still feel the tailwinds of an improving economy and buoyant resale market conditions," added Tsiakopoulos.

To view the Ontario Urban SAAR Starts graph, please visit the following link:

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

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Ontario Starts, Urban 10,000 and Over - 2009/10 SAAR
  December January February %Change
Total 52,700 53,200 68,400 28.6%
Single 29,900 33,500 34,300 2.4%
Multiple 22,800 19,700 34,100 73.1%
Ontario Starts, Urban 10,000 and Over, Actual, February and Year 2010
  February Year-to-Date
  2009 2010 % Change 2009 2010 % Change
Total 2,232 3,946 76.8% 5,124 7,268 41.8%
Single 690 1,526 121.2% 1,679 3,368 100.6%
Multiple 1,542 2,420 56.9% 3,445 3,900 13.2%

Starts figures in this release, other than actual starts, are seasonally adjusted annual rates (SAAR)—that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels

* refers to provincial starts in areas with population 10,000+ (urban) 

Contact Information

  • Ontario:
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799