Housing Starts in Toronto Trend Higher in November 2015

TORONTO, December 8, 2015 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 45,866 units in November compared to 45,766, in October 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.

“A jump in condominium apartment starts, prompted in part by pre-construction condos getting underway, saw GTA housing starts trend higher in November,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “Moreover, historically low borrowing costs have kept housing demand high across Toronto and November saw strong low-rise starts, particularly in single and semi-detached homes.”

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 58,964 units in November, up from 38,744 units in October. This was largely the result of a larger number of apartment starts this month.

The City of Toronto had the highest number of total starts led by condominium apartment units. Brampton had the next highest number of starts with single-detached and row starts dominating construction. Markham also had a high number of high rise starts.

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.

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Information on this release:

Media Contact:

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

Additional data is available upon request.


Source: CMHC

Preliminary Housing Start Data
November 2015
Toronto CMA1 October 2015 November 2015
Trend2 45,766 45,866
SAAR 38,744 58,964
  November 2014 November 2015
Actual    
November — Single-detached 856 1,011
November — Multiples 1,274 4,032
November — Total 2,130 5,043
January to November — Single-detached 8,140 9,216
January to November — Multiples 18,530 30,938
January to November — Total 26,670 40,154

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
November 2014-2015
Toronto CMA Single Semi Row Apt Total
  2014 2015 2014 2015 2014 2015 2014 2015 2014 2015
List of Sub- markets  
Pickering 8 15 6 0 24 0 0 0 38 15
Ajax 25 5 0 0 21 10 0 0 46 15
Uxbridge 6 1 0 0 0 0 0 0 6 1
Vaughan 71 33 0 4 103 8 0 0 174 45
Markham 2 56 0 2 0 60 0 478 2 596
Richmond Hill 60 78 0 0 143 21 0 0 203 99
Whitchurch-Stouffville 3 4 0 0 28 28 26 0 57 32
Aurora 10 57 0 0 0 14 0 0 10 71
Newmarket 8 20 0 0 0 0 0 0 8 20
King Township 20 20 0 4 10 26 6 0 36 50
East Gwillimbury 10 10 0 0 0 0 0 0 10 10
Georgina Township 9 73 0 0 0 0 0 0 9 73
Toronto City 172 88 22 16 4 10 704 2,719 902 2,833
Mississauga 31 10 2 2 17 19 0 0 50 31
Brampton 182 272 26 32 62 287 0 113 270 704
Caledon 16 31 40 18 9 0 0 0 65 49
Town of Mono 2 6 0 0 0 0 0 0 2 6
Orangeville 15 6 0 0 15 0 0 3 30 9
Oakville 21 54 0 0 0 20 0 0 21 74
Milton 116 85 6 0 0 115 0 0 122 200
Halton Hills 9 26 0 0 0 0 0 0 9 26
New Tecumseth 57 28 0 6 0 4 0 0 57 38
Bradford West Gwillimbury 3 33 0 0 0 13 0 0 3 46
Total Toronto CMA Starts 856 1,011 102 84 436 635 736 3,313 2,130 5,043

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 134 137 36 14 148 24 0 169 318 344
Ajax 512 214 28 0 158 140 0 0 698 354
Uxbridge 49 66 0 10 0 61 0 0 49 137
Vaughan 627 933 76 38 206 176 132 1,751 1,041 2,898
Markham 572 386 362 64 501 447 1,031 1,158 2,466 2,055
Richmond Hill 300 235 14 4 471 423 1,653 1,224 2,438 1,886
Whitchurch-Stouffville 141 70 0 2 52 295 26 54 219 421
Aurora 192 497 0 4 21 232 0 207 213 940
Newmarket 112 163 0 58 38 23 0 16 150 260
King Township 205 381 2 4 26 60 6 0 239 445
East Gwillimbury 60 133 0 0 6 0 0 0 66 133
Georgina Township 188 267 0 2 32 24 0 0 220 293
Toronto City 1,028 1,137 176 40 293 427 9,183 16,901 10,680 18,505
Mississauga 117 180 94 70 244 249 304 2,192 759 2,691
Brampton 1,818 2,098 576 506 546 1,068 308 263 3,248 3,935
Caledon 212 548 54 90 139 110 0 0 405 748
Town of Mono 131 108 0 0 0 0 0 0 131 108
Orangeville 74 37 0 0 43 18 0 3 117 58
Oakville 416 341 2 2 417 320 429 907 1,264 1,570
Milton 667 314 42 2 352 306 276 464 1,337 1,086
Halton Hills 47 325 2 0 0 86 0 0 49 411
New Tecumseth 287 298 8 88 11 66 0 48 306 500
Bradford West Gwillimbury 251 348 6 2 0 26 0 0 257 376
Total Toronto CMA Starts 8,140 9,216 1,478 1,000 3,704 4,581 13,348 25,357 26,670 40,154

Source: CMHC

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