Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2011 08:15 ET

Toronto Housing Starts Decline in November

TORONTO, ONTARIO--(Marketwire - Dec. 8, 2011) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area declined to 28,100 units in November, according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC). Housing starts in Toronto decreased to their lowest level since the beginning of the year.

"Last month's numbers confirm that housing construction has moderated in Toronto. Condo apartment starts have cooled from very high levels seen through most of 2011. However, expect this pause to be short-lived as the numerous projects in pre-construction begin to break ground in the months ahead", said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

To view the graph associated with this press release, please visit the following link: http://media3.marketwire.com/docs/751446_e_graph.pdf

To view the table associated with this press release, please visit the following link: http://media3.marketwire.com/docs/751446_e_table.pdf

Contact Information

  • Canada Mortgage and Housing Corporation
    Shaun Hildebrand
    Senior Market Analyst
    (416) 218-3466
    shildebr@cmhc-schl.gc.ca

    En francais:
    Canada Mortgage and Housing Corporation
    Ed Heese
    Senior Market Analyst
    (416) 218-3369
    eheese@schl.gc.ca