Toronto Housing Starts Continue to Move Higher in March

TORONTO, ONTARIO--(Marketwire - April 8, 2011) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area increased by 17 per cent to 44,400 units in March, according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

To view the graph "March Housing Starts", please visit the following link: http://media3.marketwire.com/docs/cmhc48te_graph.pdf

"Housing starts data for Toronto continues to display divergent trends for single detached and high rise construction," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "Growth was again derived from the condo sector, which showed greater diversity last month as over 40 per cent of condo starts occurred in the 905 region" added Hildebrand.

To view the table "Toronto CMA, Summary of March 2011 Preliminary Starts Data", please visit the following link: http://media3.marketwire.com/docs/cmhc48te_table.pdf

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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