Toronto Housing Starts in February 2016


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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.
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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 CMA1January 2016February 2016
Trend245,29642,352
SAAR26,12047,341
February 2015February 2016
Actual
February — Single-detached358731
February — Multiples1,2992,671
February — Total1,6573,402
January to February — Single-detached7981,374
January to February — Multiples3,8333,871
January to February — Total4,6315,245
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 CMASingleSemiRowAptTotal
2015201620152016201520162015201620152016
List of Sub- markets
Pickering10142----------1214
Ajax5------16------21--
Uxbridge--------------------
Vaughan4422------------4422
Markham15------------15
Richmond Hill94--810------1912
Whitchurch-Stouffville51----------1545155
Aurora2747----27------5447
Newmarket--50------6------56
King Township8--------------8--
East Gwillimbury1416------------1416
Georgina Township366------12----378
Toronto City4047----48211,0142,1011,1022,169
Mississauga366--------1949200
Brampton10325834--7371----210329
Caledon1313------------1313
Town of Mono--------------------
Orangeville93------------93
Oakville365------74----3139
Milton9142--195----3019
Halton Hills41--------------41--
New Tecumseth574--8----48--5382
Bradford West Gwillimbury626--12--5----643
Total Toronto CMA Starts35873144281931941,0622,4491,6573,402
Source: CMHC
Preliminary Actual Housing Start Data by Type
Year to Date / 2015-2016
Toronto CMASingleSemiRowAptTotal
2015201620152016201520162015201620152016
List of Sub- markets
Pickering18142----------2014
Ajax91----23------321
Uxbridge21------------21
Vaughan7032----35--350--45532
Markham1021------------1021
Richmond Hill1214--8296----4128
Whitchurch-Stouffville112------9--15411165
Aurora4280----27------6980
Newmarket--61----236--62373
King Township3712----4------4112
East Gwillimbury3618------------3618
Georgina Township10106----1212----22118
Toronto City84114--248332,7962,8262,9282,975
Mississauga2023142--14--19434233
Brampton180393622073165138--453578
Caledon4836--22816----7654
Town of Mono--------------------
Orangeville159----5------209
Oakville20209----1110515--46314
Milton56582--2524--13583217
Halton Hills826------------826
New Tecumseth251212834275048--128205
Bradford West Gwillimbury1143232616----1991
Total Toronto CMA Starts7981,3741101003764563,3473,3154,6315,245
Source: CMHC

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