Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2010 08:15 ET

Ontario Home Starts Move Lower in September

TORONTO, ONTARIO--(Marketwire - Oct. 8, 2010) - Ontario preliminary Seasonally Adjusted Annual Rate (SAAR) of home starts across urban* centres moved lower in September. An estimated 54,500 residential housing units broke ground, down from a revised 61,200 units in August. Both single and multi-family home construction contributed to the decline in the latest month. However, most Ontario urban centers posted increases from the same month one year ago, For the year, Ontario new home construction in urban areas is running 29 per cent above levels for the same period one year ago - largely the result of strength earlier in the year.

"As expected, the trend in residential construction activity is easing," said Ted Tsiakopoulos, CMHC`s Regional Economist. "While construction of higher density housing will hold up better in the months ahead, a slower job growth, fewer first time buyers and adequate supply of housing in resale markets will dampen demand for new home construction", 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      
  July August September   %Change      
Total 53,000 61,200 54,500   -10.9 %    
Single 23,900 22,300 20,900   -6.3 %    
Multiple 29,100 38,900 33,600   -13.6 %    
Ontario Starts, Urban 10,000 and Over, Actual, September and Year 2010  
  September   Year-to-Date  
  2009 2010 % Change   2009   2010 % Change  
Total 4,831 4,885 1.1 % 32,942   42,606 29.3 %
Single 2,306 1,995 -13.5 % 13,109   19,240 46.8 %
Multiple 2,525 2,890 14.5 % 19,833   23,366 17.8 %

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) 

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Contact Information

  • Ontario:
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799