Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2011 08:15 ET

Toronto Housing Starts Remain High in April

TORONTO, ONTARIO--(Marketwire - May 9, 2011) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area slipped by two per cent to 43,400 units in April, according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

"The high level of housing construction so far in 2011 is making up for some ground lost during the past couple years," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "The extended low interest rate environment and continued easing in project financing conditions have helped developers bring more product to the market" added Hildebrand.

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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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