Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2010 08:15 ET

Toronto Housing Starts Rise in August

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area increased by 29 percent to 33,700 units in August according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

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

"Housing starts moved back up to their highest level of the year in August" said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "The building industry in Toronto continues to benefit from the recent peak in pre-construction sales activity. Last month saw a particularly large number of row homes begin construction. Look for more affordable and denser housing types to continue driving the new home market in the Greater Toronto Area," added Hildebrand.

TORONTO CMA
SUMMARY OF AUGUST 2010 PRELIMINARY STARTS DATA       
             
  Annual   SAAR   Raw Data (Aug. '10/Aug. '09) Raw Data (YTD '10/YTD '09)
  2009 Jul. 2010 Aug. 2010 % Chg. Aug. '09 Aug. '10 % Chg. YTD '09 YTD '10 % Chg.
Total 25,949 26,200 33,700 28.6% 2,130 2,907 36.5% 15,402 18,816 22.2%
Single-Detached 8,130 9,400 8,800 -6.4% 558 835 49.6% 4,117 6,650 61.5%
Multiple-Family 17,819 16,800 24,900 48.2% 1,572 2,072 31.8% 11,285 12,166 7.8%
  Semi-Detached 2,032 - - - 142 254 78.9% 1,292 1,050 -18.7%
  Row Houses 2,918 - - - 195 647 231.8% 1,635 2,875 75.8%
  Apartments 12,869 - - - 1,235 1,171 -5.2% 8,358 8,241 -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 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