Toronto Housing Starts in February 2016

Newsroom > News Releases > 2016 > Toronto Housing Starts in February 2016  Toronto Housing Starts in February 2016 TORONTO, March 8, 2016 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 42,352 units in February 2016 compared to 45,296 in January 2016 according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. “While housing starts in Toronto trended lower in February, low listings of single-detached homes in the resale market have resulted in some demand being carried over to the new home market as indicated by higher trending single-detached home starts, ” said Dana Senagama, CMHC Principal Market Analyst for the GTA. CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next. The standalone monthly SAAR was 47,341 units in February, up from 26,120 units in January. The increase was the result of greater apartment starts. With 2,101 new apartment units breaking ground within the City of Toronto meant it recorded the highest number of starts within the GTA. Brampton recorded the next highest number of starts comprising mostly single-detached units. This was followed by Mississauga, where apartment construction was robust. Preliminary Housing Starts data is also available in English and French at the following link:Preliminary Housing Starts Tables As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry. For more information, or follow us on Twitter, YouTube, LinkedIn and Facebook. Information on this release: Media Contact: Angelina Ritacco 416-218-3320 Cell: 647-210-7420 aritacco@cmhc.ca Additional data is available upon request. Preliminary Housing Start Data February 2016 Toronto CMA1 January 2016 February 2016 Trend2 45,296 42,352 SAAR 26,120 47,341 February 2015 February 2016 Actual February — Single-detached 358 731 February — Multiples 1,299 2,671 February — Total 1,657 3,402 January to February — Single-detached 798 1,374 January to February — Multiples 3,833 3,871 January to February — Total 4,631 5,245 Source: CMHC 1 Census Metropolitan Area 2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR). By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels. Detailed data available upon request Preliminary Actual Housing Start Data by Type February 2015-2016 Toronto CMA Single Semi Row Apt Total 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 List of Sub- markets Pickering 10 14 2 -- -- -- -- -- 12 14 Ajax 5 -- -- -- 16 -- -- -- 21 -- Uxbridge -- -- -- -- -- -- -- -- -- -- Vaughan 44 22 -- -- -- -- -- -- 44 22 Markham 1 5 -- -- -- -- -- -- 1 5 Richmond Hill 9 4 -- 8 10 -- -- -- 19 12 Whitchurch-Stouffville 5 1 -- -- -- -- -- 154 5 155 Aurora 27 47 -- -- 27 -- -- -- 54 47 Newmarket -- 50 -- -- -- 6 -- -- -- 56 King Township 8 -- -- -- -- -- -- -- 8 -- East Gwillimbury 14 16 -- -- -- -- -- -- 14 16 Georgina Township 3 66 -- -- -- 12 -- -- 3 78 Toronto City 40 47 -- -- 48 21 1,014 2,101 1,102 2,169 Mississauga 3 6 6 -- -- -- -- 194 9 200 Brampton 103 258 34 -- 73 71 -- -- 210 329 Caledon 13 13 -- -- -- -- -- -- 13 13 Town of Mono -- -- -- -- -- -- -- -- -- -- Orangeville 9 3 -- -- -- -- -- -- 9 3 Oakville 3 65 -- -- -- 74 -- -- 3 139 Milton 9 14 2 -- 19 5 -- -- 30 19 Halton Hills 41 -- -- -- -- -- -- -- 41 -- New Tecumseth 5 74 -- 8 -- -- 48 -- 53 82 Bradford West Gwillimbury 6 26 -- 12 -- 5 -- -- 6 43 Total Toronto CMA Starts 358 731 44 28 193 194 1,062 2,449 1,657 3,402 Source: CMHC Preliminary Actual Housing Start Data by Type Year to Date / 2015-2016 Toronto CMA Single Semi Row Apt Total 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 List of Sub- markets Pickering 18 14 2 -- -- -- -- -- 20 14 Ajax 9 1 -- -- 23 -- -- -- 32 1 Uxbridge 2 1 -- -- -- -- -- -- 2 1 Vaughan 70 32 -- -- 35 -- 350 -- 455 32 Markham 10 21 -- -- -- -- -- -- 10 21 Richmond Hill 12 14 -- 8 29 6 -- -- 41 28 Whitchurch-Stouffville 11 2 -- -- -- 9 -- 154 11 165 Aurora 42 80 -- -- 27 -- -- -- 69 80 Newmarket -- 61 -- -- 23 6 -- 6 23 73 King Township 37 12 -- -- 4 -- -- -- 41 12 East Gwillimbury 36 18 -- -- -- -- -- -- 36 18 Georgina Township 10 106 -- -- 12 12 -- -- 22 118 Toronto City 84 114 -- 2 48 33 2,796 2,826 2,928 2,975 Mississauga 20 23 14 2 -- 14 -- 194 34 233 Brampton 180 393 62 20 73 165 138 -- 453 578 Caledon 48 36 -- 2 28 16 -- -- 76 54 Town of Mono -- -- -- -- -- -- -- -- -- -- Orangeville 15 9 -- -- 5 -- -- -- 20 9 Oakville 20 209 -- -- 11 105 15 -- 46 314 Milton 56 58 2 -- 25 24 -- 135 83 217 Halton Hills 82 6 -- -- -- -- -- -- 82 6 New Tecumseth 25 121 28 34 27 50 48 -- 128 205 Bradford West Gwillimbury 11 43 2 32 6 16 -- -- 19 91 Total Toronto CMA Starts 798 1,374 110 100 376 456 3,347 3,315 4,631 5,245 Source: CMHC http://www.cmhc-schl.gc.ca