Toronto Housing Demand Ramps up in 2015

TORONTO, January 11, 2016 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 44,881 units in December compared to 45,843 in November according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“While Toronto saw housing starts decrease in December, overall actual starts for the year increased by 46 per cent compared to 2014,” said Andrew Scott, CMHC Senior Market Analyst for the GTA. “Not only did 2015 see apartment construction increase by 76 per cent in the region, it also saw single-detached and row home starts increase. Improving labour market conditions and lower mortgage rates ramped up housing demand in 2015.”

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 standalone monthly SAAR was 24,852 units in December, down from 59,011 units in November. The decrease was the result of fewer apartment starts.

The City of Brampton recorded the highest number of starts among municipalities in December, as construction of new apartment units started. The municipality with next highest number was the City of Toronto, that resulted from mostly single-detached and apartment units starts. The City of Toronto was followed by Vaughan, where single-detached construction was robust.

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.

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Information on this release:

Media Contact:

Angelina Ritacco, Public Affairs Advisor, Communications and Marketing
416-218-3320
Cell: 647-210-7420
aritacco@cmhc.ca

Additional data is available upon request.


Source: CMHC

Preliminary Housing Start Data
December 2015
Toronto CMA1 November 2015 December 2015
Trend2 45,843 44,881
SAAR 59,011 24,852
  December 2014 December 2015
Actual    
December — Single-detached 690 1,007
December — Multiples 1,569 1,126
December — Total 2,259 2,133
January to December — Single-detached 8,830 10,223
January to December — Multiples 20,099 32,064
January to December — Total 28,929 42,287

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
December 2014-2015
Toronto CMA Single Semi Row Apt Total
  2014 2015 2014 2015 2014 2015 2014 2015 2014 2015
List of Sub- markets  
Pickering 4 0 2 0 0 0 0 0 6 0
Ajax 22 13 0 0 0 0 0 0 22 13
Uxbridge 1 3 0 0 0 0 0 0 1 3
Vaughan 67 122 6 2 7 68 0 34 80 226
Markham 8 9 0 0 4 0 0 0 12 9
Richmond Hill 15 7 0 0 19 15 0 0 34 22
Whitchurch-Stouffville 10 0 0 0 0 0 0 0 10 0
Aurora 36 59 0 0 0 4 0 0 36 63
Newmarket 2 26 0 0 18 0 0 0 20 26
King Township 14 60 0 0 8 0 0 0 22 60
East Gwillimbury 91 1 0 0 0 0 0 0 91 1
Georgina Township 29 37 0 0 11 0 0 0 40 37
Toronto City 100 167 0 14 0 74 891 153 991 408
Mississauga 11 11 0 0 76 0 0 0 87 11
Brampton 55 174 24 70 0 134 0 281 79 659
Caledon 18 40 0 0 11 16 0 0 29 56
Town of Mono 2 1 0 0 0 0 0 0 2 1
Orangeville 5 1 0 0 0 29 0 0 5 30
Oakville 33 62 0 0 0 146 469 0 502 208
Milton 81 74 18 0 0 4 0 0 99 78
Halton Hills 23 9 0 0 0 0 0 0 23 9
New Tecumseth 51 78 0 8 0 18 0 0 51 104
Bradford West Gwillimbury 12 53 2 12 3 44 0 0 17 109
Total Toronto CMA Starts 690 1,007 52 106 157 552 1,360 468 2,259 2,133

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 138 137 38 14 148 24 0 169 324 344
Ajax 534 227 28 0 158 140 0 0 720 367
Uxbridge 50 69 0 10 0 61 0 0 50 140
Vaughan 694 1,055 82 40 213 244 132 1,785 1,121 3,124
Markham 580 395 362 64 505 447 1,031 1,158 2,478 2,064
Richmond Hill 315 242 14 4 490 438 1,653 1,224 2,472 1,908
Whitchurch-Stouffville 151 70 0 2 52 295 26 54 229 421
Aurora 228 556 0 4 21 236 0 207 249 1,003
Newmarket 114 189 0 58 56 23 0 16 170 286
King Township 219 441 2 4 34 60 6 0 261 505
East Gwillimbury 151 134 0 0 6 0 0 0 157 134
Georgina Township 217 304 0 2 43 24 0 0 260 330
Toronto City 1,128 1,304 176 54 293 501 10,074 17,054 11,671 18,913
Mississauga 128 191 94 70 320 249 304 2,192 846 2,702
Brampton 1,873 2,272 600 576 546 1,202 308 544 3,327 4,594
Caledon 230 588 54 90 150 126 0 0 434 804
Town of Mono 133 109 0 0 0 0 0 0 133 109
Orangeville 79 38 0 0 43 47 0 3 122 88
Oakville 449 403 2 2 417 466 898 907 1,766 1,778
Milton 748 388 60 2 352 310 276 464 1,436 1,164
Halton Hills 70 334 2 0 0 86 0 0 72 420
New Tecumseth 338 376 8 96 11 84 0 48 357 604
Bradford West Gwillimbury 263 401 8 14 3 70 0 0 274 485
Total Toronto CMA Starts 8,830 10,223 1,530 1,106 3,861 5,133 14,708 25,825 28,929 42,287

Source: CMHC

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