Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 12, 2010 08:15 ET

Toronto Housing Starts Fall Back

TORONTO, ONTARIO--(Marketwire - April 12, 2010) - Following a big gain in February, the seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area declined by 23 percent to 26,300 units in March according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/toronto.pdf

"Housing starts in Toronto are showing two separate sub-plots. High rise condominium starts have made little progress over the past several months while low rise singles and rows are making considerable headway," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "As housing in Toronto becomes less affordable, demand will shift towards condominiums and construction will again begin to favour high rise projects," added Hildebrand.

TORONTO CMA
SUMMARY OF MARCH 2010 PRELIMINARY STARTS DATA
 
  Annual   SAAR   Raw Data (Mar. '10/Mar. '09) Raw Data (YTD '10/YTD '09)
  2009 Feb. 2010 Mar. 2010 % Chg. Mar. '09 Mar. '10 % Chg. YTD '09 YTD '10 % Chg.
Total 25,949 34,100 26,300 -22.9% 2,921 1,772 -39.3% 5,904 5,669 -4.0%
Single-Detached 8,130 13,200 13,800 4.5% 303 730 140.9% 1,118 2,380 112.9%
Multiple-Family 17,819 20,900 12,500 -40.2% 2,618 1,042 -60.2% 4,786 3,289 -31.3%
  Semi-Detached 2,032 - - - 156 58 -62.8% 430 266 -38.1%
  Row Houses 2,918 - - - 189 299 58.2% 574 797 38.9%
  Apartments 12,869 - - - 2,273 685 -69.9% 3,782 2,226 -41.1%
Source: Canada Mortgage and Housing Corporation

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. For more information, visit www.cmhc.ca or call 1-800-668-2642.

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Contact Information

  • For further information, please contact/Pour obtenir de
    plus amples renseignements, veuillez communiquer avec:
    Toronto CMA: Canada Mortgage and Housing Corporation
    Shaun Hildebrand
    (416) 218-3466
    shildebr@cmhc-schl.gc.ca
    or
    En francais:
    Canada Mortgage and Housing Corporation
    Ed Heese
    (416) 218- 3369
    eheese@schl.gc.ca
    or
    Ontario:
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc-schl.gc.ca
    or
    Canada:
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799
    csauriol@cmhc-schl.gc.ca