Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2015 08:15 ET

June 2015 Housing Starts in Toronto

TORONTO, ONTARIO--(Marketwired - July 9, 2015) - Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 39,170 units in June compared to 38,415 in May according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

"Despite a slight pull-back in condominium apartment starts, low rise home starts trended higher, supporting an increase in total housing starts in June," said Dana Senagama, CMHC Principal Market Analyst for the GTA. "With inventories of new and resale low rise homes hitting all-time lows, households are increasingly looking for more choice and builders are channelling this demand towards new projects."

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The stand alone monthly SAAR was 30,807 units in June, down from 58,469 units in May. This was the result of a decrease in apartment starts this month.

The City of Toronto maintained the highest number of starts as construction began on many apartment units. However, the 905 regions saw increased activity as more new home starts shifted out of Toronto this month. The City of Mississauga had the next highest number of starts, which included a significant number of apartments. This was followed by the municipalities of Vaughan, Oakville, Markham and Brampton, where starts were bolstered by single-detached and row homes.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

This release is also available at

Additional data is available upon request.

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Tables and a graph are available at the following address:

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