Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 11, 2011 08:15 ET

Toronto Housing Starts Increase in 2010

TORONTO, ONTARIO--(Marketwire - Jan. 11, 2011) - Preliminary data released today by the Canada Mortgage and Housing Corporation (CMHC) show total housing starts registered in 2010 for the Toronto Census Metropolitan Area increased by 13 per cent to 29,195 units. In December, the seasonally-adjusted annual rate (SAAR) of total housing starts declined to 17,800 units.

To view the graph associated with this press release, please visit the following link: http://media3.marketwire.com/docs/cmch_tor_0111_graph.pdf

Housing starts in the Toronto CMA showed improvement during 2010 thanks to a rise in demand for new homes, yet remained below annual levels achieved throughout the past decade. "Growth was held back by a reduced supply of available lots for single- detached development and construction delays for many condo projects that opened sales offices in the pre-recession period" said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "The high-rise industry is poised for a strong 2011 with preliminary work well underway at many sites, robust pre-construction sales figures, and a large number of completions making way for new development," added Hildebrand.

The monthly decline registered in December was attributed to a pull-back in high-rise starts following a spike in activity during November and a general downtrend in single- detached starts experienced throughout the year.

TORONTO CMA
SUMMARY OF DECEMBER 2010 PRELIMINARY STARTS DATA

    SAAR     Raw Data     Raw Data  
  Nov. 2010 Dec. 2010 % Chg. Dec. '09 Dec. '10 % Chg. 2009 2010 % Chg.
Total 51,200 17,800 -65.2% 1,719 1,573 -8.5% 25,949 29,195 12.5%
Single-Detached 11,500 8,100 -29.6% 1,054 759 -28.0% 8,130 9,936 22.2%
Multiple-Family 39,700 9,700 -75.6% 665 814 22.4% 17,819 19,259 8.1%
  Semi-Detached - - - 140 120 -14.3% 2,032 1,654 -18.6%
  Row Houses - - - 327 220 -32.7% 2,918 4,365 49.6%
  Apartments - - - 198 474 139.4% 12,869 13,240 2.9%
Source: Canada Mortgage and Housing Corporation              

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. For more information, visit www.cmhc.ca or call 1-800-668-2642.

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Contact Information

  • For further information, please contact/ Pour obtenir de
    plus amples renseignements, veuillez communiquer avec:
    Toronto CMA: Canada Mortgage and Housing Corporation
    Shaun Hildebrand
    (416) 218-3466
    shildebr@cmhc-schl.gc.ca
    or
    En francais: Canada Mortgage and Housing Corporation
    Ed Heese
    (416) 218- 3369
    eheese@schl.gc.ca
    or
    Ontario: Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc-schl.gc.ca
    or
    Canada: Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799
    csauriol@cmhc-schl.gc.ca
    www.cmhc.ca