GTA Housing Starts in February

StumbleUpon 0 Like 0 Retweet 0 Google +1 0

By Elli Davis, April 1, 2010

Photo by Len Matthews

Canada Mortgage and Housing Corporation has just released its newest report about the current housing situation in the Greater Toronto Area. In the second month of 2010, new home construction in the area was pretty successful, especially if compared to the same month in 2009.

Exactly 2,514 housing starts were reported in GTA this February. That means a 65 percent rise from the very same period last year. Especially single detached houses seem to be doing very well. Actually, during the first two months of 2010, the amount of registered single detached homes more than doubled in comparison with last year – a great result indeed.

As for the future, the report CMHC predicts that housing starts will stay at their current level at least until the end 2010. Not bad, however, by the end of 2009, the housing situation was quite good, so if everything stays as it is now, in the second half of 2010 the year-to-year growth will not be that significant.