Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2011 08:15 ET

CMHC: Toronto Housing Starts Show Strength in February

TORONTO, ONTARIO--(Marketwire - March 8, 2011) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area increased by 49 per cent to 38,000 units in February, according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

To view a graph of "February Housing Starts" please visit the following link: http://media3.marketwire.com/docs/toronto308g.pdf

"The condominium segment is shaping up to be the engine of growth for the construction industry in Toronto this year," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "The rising number of condo starts and completions reflects a growing preference for this housing type among first-time buyers, downsizers and renters," added Hildebrand.

To view the table "Toronto CMA Summary of February 2011 Preliminary Starts Data" please visit the following link: http://media3.marketwire.com/docs/679740.pdf

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed decisions.

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