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.

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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 - 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)