Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2010 08:15 ET

Toronto Housing Starts Pull Back in September

TORONTO, ONTARIO--(Marketwire - Oct. 8, 2010) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area decreased by 7 percent to 31,300 units in September according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

To view the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1008tor.pdf.

"The slowdown in new single detached home sales during the summer is holding back growth in construction starts as we head into the fall," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "Meanwhile, interest for new condos has remained fairly stable and will provide support for highrise starts going forward," added Hildebrand.

TORONTO CMA
SUMMARY OF SEPTEMBER 2010 PRELIMINARY STARTS DATA
  Annual SAAR   Raw Data (Sep. '10/Sep. '09)   Raw Data (YTD '10/YTD '09)  
  2009 Aug. 2010 Sep. 2010 % Chg.   Sep. '09 Sep. '10 % Chg.   YTD '09 YTD '10 % Chg.  
Total 25,949 33,800 31,300 -7.4 % 2,853 2,660 -6.8 % 18,255 21,476 17.6 %
Single-Detached 8,130 8,900 8,700 -2.2 % 906 771 -14.9 % 5,023 7,421 47.7 %
Multiple-Family 17,819 24,900 22,600 -9.2 % 1,947 1,889 -3.0 % 13,232 14,055 6.2 %
  Semi-Detached 2,032 - - -   228 112 -50.9 % 1,520 1,162 -23.6 %
  Row Houses 2,918 - - -   252 332 31.7 % 1,887 3,207 70.0 %
  Apartments 12,869 - - -   1,467 1,445 -1.5 % 9,825 9,686 -1.4 %
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 housing forecasts that will inform your business strategy in 2011, attend your local housing market outlook session this November. Visit www.cmhc.ca/conferenceregistration for complete details.

Aussi disponible en français

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 français :
    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