Toronto Housing Starts

February 8, 2010

Tower of glass by Adriane Dizon

As a follow up to my very last article, I am now going to speak about the housing starts solely in Toronto area. According to the CMHC report which I have already mentioned, the seasonally adjusted annual rate of total housing starts decreased by 0.5 percent last month in the Toronto Census Metropolitan Area. The total number of housing starts in December 2009 was 20,800 and in January it was 20,700.

As for single detached houses, their level of housing starts was 12,800 units in December and it increased by 13.3 percent to 14,500 units in January. There was a decrease in housing starts of multiple family homes, though. From December to January, the housing starts of multiple family homes decreased by 22.5 percent, from 8,000 to 6,200.

Overall in Ontario, there was a 1.5 percent rise – not fantastic and Toronto surely helped to achieve this result, unfortunately in a negative sense. I’m not satisfied with its results at all. But as Shaun Hildebrand, CMHC’s Senior Market Analyst for the GTA said, „total starts in Toronto were again weighed down by muted new high rise construction.”

You might also like

1. Housing Starts in January
2. CMA Housing Starts in 2009
3. Housing Starts Down in December
4. Decline in Housing Starts
5. Housing Starts in April

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