TORONTO, July 19, 2016 — The majority of builders begin construction once they have achieved more than 70 per cent in sales, mitigating risks associated with speculative building, according to the Toronto Housing Market Insight report released today by Canada Mortgage and Housing Corporation (CMHC).
- The majority of condominium apartment projects (79 per cent) have started construction after reaching a sales threshold of 70 per cent or more.
- Projects that started construction significantly below the 70 per cent sales threshold are mainly smaller in size or a subsequent phase of a larger development.
- Current unsold inventory is largely concentrated within downtown Toronto and Markham where condominium markets are more active.
- Projects that currently have a high level of unsold inventory started construction prior to reaching a sales threshold of 70 per cent.
In order to access future Market Analysis Centre publications from CMHC, please subscribe to Housing Observer Online.
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.
“Condo building activity in Toronto seems to be well managed. In spite of this encouraging information, future inventory management remains critical”
Information on This Release:
CMHC Media Content
- Video Clip — English (4,807 KB)
- Dana Senagama Headshot (12,688 KB)