Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2010 08:15 ET

Toronto Housing Starts Slip in June

TORONTO, ONTARIO--(Marketwire - July 9, 2010) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area declined by 18.9 percent in June to 27,100 units 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/tor-1.pdf.

"Housing starts drifted lower in June following some strength in new activity over the past couple months" said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "This type of volatility is expected in a market heavily influenced by the timing of condominium apartment projects. Demand for new condos remains strong and high rise construction is expected to regain its momentum in the months ahead," added Hildebrand.

TORONTO CMA
SUMMARY OF JUNE 2010 PRELIMINARY STARTS DATA
  Annual   SAAR     Raw Data (Jun. '10/Jun. '09)   Raw Data (YTD '10/YTD '09)  
  2009 May 2010 Jun. 2010 % Chg.   Jun. '09 Jun. '10 % Chg.   YTD '09 YTD '10 % Chg.  
Total 25,949 33,400 27,100 -18.9 % 2,401 2,372 -1.2 % 11,543 13,631 18.1 %
Single-Detached 8,130 9,100 9,700 6.6 % 633 921 45.5 % 2,873 4,941 72.0 %
Multiple-Family 17,819 24,300 17,400 -28.4 % 1,768 1,451 -17.9 % 8,670 8,690 0.2 %
  Semi-Detached 2,032 - - -   154 66 -57.1 % 942 684 -27.4 %
  Row Houses 2,918 - - -   181 277 53.0 % 1,220 1,896 55.4 %
  Apartments 12,869 - - -   1,433 1,108 -22.7 % 6,508 6,110 -6.1 %
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:
    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