Housing Starts in Toronto Trend Higher in October 2015

TORONTO, November 9, 2015 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 45,765 units in October compared to 45,782, in September according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

“Single-detached and condominium apartment starts trended higher in October,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “Tight conditions in the resale market for single-detached homes have caused demand to spill over into the new home market. Pre-construction condo sales, which began increasing in mid-2013, are also converting to starts.”

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 stand alone monthly SAAR was 38,722 units in October, down from 58,016 units in September. This was largely the result of a smaller number of apartment starts this month.

The City of Toronto had the highest number of total starts, most of which were apartment units. Brampton had the next highest number of starts with single-detached home starts dominating construction, followed by Mississauga where apartment starts dominated construction.

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.

1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) — that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. 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.

Follow CMHC on Twitter @CMHC_ca

Information on this release:

Media Contact:

Angelina Ritacco
416-218-3320
aritacco@cmhc.ca

Additional data is available upon request.

Preliminary Housing Start Data
October 2015
Toronto CMA1 September 2015 October 2015
Trend2 45,782 45,765
SAAR 58,016 38,722
  October 2014 October 2015
Actual    
October — Single-detached 906 1,043
October — Multiples 1,365 2,345
October — Total 2,271 3,388
January to October — Single-detached 7,284 8,205
January to October — Multiples 17,256 26,906
January to October — Total 24,540 35,111

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Preliminary Actual Housing Start Data by Type
October 2014-2015
Toronto CMA Single Semi Row Apt Total
  2014 2015 2014 2015 2014 2015 2014 2015 2014 2015
List of Sub- markets  
Pickering 20 8 6 0 0 0 0 0 26 8
Ajax 22 8 0 0 0 36 0 0 22 44
Uxbridge 15 9 0 2 0 0 0 0 15 11
Vaughan 35 35 0 0 3 12 98 0 136 47
Markham 67 44 28 6 32 0 170 220 297 270
Richmond Hill 34 12 2 0 6 0 205 0 247 12
Whitchurch-Stouffville 86 8 0 0 24 0 0 0 110 8
Aurora 1 14 0 0 8 26 0 0 9 40
Newmarket 1 23 0 32 0 0 0 0 1 55
King Township 20 113 0 0 0 13 0 0 20 126
East Gwillimbury 0 11 0 0 0 0 0 0 0 11
Georgina Township 17 33 0 0 0 0 0 0 17 33
Toronto City 100 137 24 2 0 10 228 1,327 352 1,476
Mississauga 8 12 0 2 43 0 0 324 51 338
Brampton 223 217 36 82 90 59 205 0 554 358
Caledon 9 98 0 8 0 29 0 0 9 135
Town of Mono 43 37 0 0 0 0 0 0 43 37
Orangeville 6 3 0 0 0 0 0 0 6 3
Oakville 24 30 0 0 128 64 7 0 159 94
Milton 74 76 22 0 0 61 0 0 96 137
Halton Hills 2 2 0 0 0 0 0 0 2 2
New Tecumseth 83 88 0 12 0 18 0 0 83 118
Bradford West Gwillimbury 16 25 0 0 0 0 0 0 16 25
Total Toronto CMA Starts 906 1,043 118 146 334 328 913 1,871 2,271 3,388

Source: CMHC

Preliminary Actual Housing Start Data by Type
Year to Date / 2014-2015
Toronto CMA Single Semi Row Apt Total
  2014 2015 2014 2015 2014 2015 2014 2015 2014 2015
List of Sub- markets  
Pickering 126 122 30 14 124 24 0 169 280 329
Ajax 487 209 28 0 137 130 0 0 652 339
Uxbridge 43 65 0 10 0 61 0 0 43 136
Vaughan 556 900 76 34 103 168 132 1,751 867 2,853
Markham 570 330 362 62 501 387 1,031 680 2,464 1,459
Richmond Hill 240 157 14 4 328 402 1,653 1,224 2,235 1,787
Whitchurch-Stouffville 138 66 0 2 24 267 0 54 162 389
Aurora 182 440 0 4 21 218 0 207 203 869
Newmarket 104 143 0 58 38 23 0 16 142 240
King Township 185 361 2 0 16 34 0 0 203 395
East Gwillimbury 50 123 0 0 6 0 0 0 56 123
Georgina Township 179 194 0 2 32 24 0 0 211 220
Toronto City 856 1,049 154 24 289 417 8,479 14,182 9,778 15,672
Mississauga 86 170 92 68 227 230 304 2,192 709 2,660
Brampton 1,636 1,826 550 474 484 781 308 150 2,978 3,231
Caledon 196 517 14 72 130 110 0 0 340 699
Town of Mono 129 102 0 0 0 0 0 0 129 102
Orangeville 59 31 0 0 28 18 0 0 87 49
Oakville 395 287 2 2 417 300 429 907 1,243 1,496
Milton 551 229 36 2 352 191 276 464 1,215 886
Halton Hills 38 299 2 0 0 86 0 0 40 385
New Tecumseth 230 270 8 82 11 62 0 48 249 462
Bradford West Gwillimbury 248 315 6 2 0 13 0 0 254 330
Total Toronto CMA Starts 7,284 8,205 1,376 916 3,268 3,946 12,612 22,044 24,540 35,111

Source: CMHC

Canada

Share...


Print(opens in a new window)