Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2010 08:15 ET

Ontario Home Starts Move Higher in August

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) - Ontario preliminary Seasonally Adjusted Annual Rate (SAAR) of home starts across urban* centres moved higher in August. An estimated 59,400 residential housing units broke ground, up from a revised 51,400 units in July. The single detached home sector weighed on starts activity while multi family home construction, which includes semi detached, row and apartment dwellings grew last month. With the exception of Kitchener, London and Windsor, all other centers posted increases from the same month one year ago. For the year, Ontario new home construction in urban areas is running 33 per cent above levels for the same period one year ago.

"New home starts moved closer to trend levels in August – boosted by strength in modestly price housing construction. Stronger multi-family home construction will continue, thanks to a backlog of high density sales that have not begun construction, more land available for higher density development and higher housing costs," said Ted Tsiakopoulos, CMHC`s Regional Economist. "Single detached home construction had led the recovery in housing starts beginning in the second quarter of last year. Now single detached starts will moderate in the months ahead", added Tsiakopoulos.

To view the graph associated with this press release, please visit the following link: http://media3.marketwire.com/docs/ont1.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.

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Ontario Starts, Urban 10,000 and Over - 2010 SAAR
  June July August %Change
Total 52,900 51,400 59,400 15.6%
Single 25,500 23,000 21,500 -6.5%
Multiple 27,400 28,400 37,900 33.5%
 
Ontario Starts, Urban 10,000 and Over, Actual, August and Year 2010
  August Year-to-Date
  2009 2010 % Change 2009 2010 % Change
Total 4,260 5,524 29.7% 28,111 37,359 32.9%
Single 1,800 2,213 22.9% 10,803 17,058 57.9%
Multiple 2,460 3,311 34.6% 17,308 20,301 17.3%

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