GTA Starts Up

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By Elli Davis, April 5, 2011

Photo by Madzia Bryll

Here is some current housing info from the Greater Toronto Area! Exactly 2,986 housing starts were recorded here in February — which means an increase of approximately 18.8 per cent from the 2,514 starts seen in February of 2010.

Even more interestingly, with the number of starts surpassing 5,000 (it is 5,034) during the first two months of this year, the beginning of 2011 is the second most succesful start of the year for the GTA since 2003. Condos continue to be popular: their construction makes up about 40 per cent of all the activity this year so far. That is a great increase compared to the same period of last year. The City of Toronto fared a little worse, with starts declining over the year from 1,469 to 1,087.

GTA starts did great in February, although Toronto did not do as well as the outlying areas. Hopefully the city’s progress will increase to parallel that of the GTA!