Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 11, 2011 08:15 ET

Ontario Home Starts Grow in 2010

TORONTO, ONTARIO--(Marketwire - Jan. 11, 2011) - Preliminary estimates of all area home starts across the province of Ontario grew to 60,500 units in 2010, up nearly 20 per cent from 2009. While single detached construction activity contributed most to the strength in home starts last year, multi-family home construction, which includes semi-detached, townhome and apartment units, posted increases in activity as well. Communities that are home to lower density construction fared relatively better with Hamilton, Barrie and Oshawa growing most. With the exception of London and Kingston, all other urban centres posted increases in 2010. For the final month of December, Ontario seasonally adjusted annualized home starts moderated after above trend activity in November.

"Ontario's residential construction sector, led by the building of single detached homes, helped lead the economic recovery in 2010," said Ted Tsiakopoulos, CMHC's Regional Economist. "An improving provincial economy, buoyant resale markets and the threat of higher home costs encouraged strong home buying activity since the second quarter of 2009. However, new home construction activity has slowed in the second half of 2010 – the result of less pent-up demand, fewer first time buyers and more choice in resale markets," added Tsiakopoulos.

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0111onte.jpg.

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.

Aussi disponible en français

Ontario Starts, Urban* 10,000 and Over - 2010 SAAR  
  October November December %Change  
Total 42,900 79,500 43,400 -45.4 %
Single 20,700 26,600 22,900 -13.9 %
Multiple 22,200 52,900 20,500 -61.2 %
   
Ontario Starts, Urban* 10,000 and Over, Actual, December and Year 2010  
  December   Year-to-Date  
  2009 2010 % Change   2009 2010 % Change  
Total 4,131 3,519 -14.8 % 47,939 57,104 19.1 %
Single 2,341 1,922 -17.9 % 20,397 25,551 25.3 %
Multiple 1,790 1,597 -10.8 % 27,542 31,553 14.6 %
 
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
    ttsiakop@cmhc.ca
    or
    Canada: Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799
    csauriol@cmhc.ca