TORONTO, June 8, 2016 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended lower at 37,324 units in May 2016 compared to 41,634 in April 2016 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.

“Led by slowed construction of new apartments, Toronto housing starts edged down overall in May,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “Single-detached home starts remain steady, however, as limited resale listings continue to drive buyers to the new home market.”

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 33,103 units in May, down from 37,359 units in April. The decrease was mainly as a result of fewer apartment starts.

The City of Toronto recorded the highest number of starts within the Toronto CMA primarily due to higher apartment starts followed by Brampton and Newmarket.

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
416-218-3320
Cell: 647-210-7420
aritacco@cmhc.ca

Additional data is available upon request.

Preliminary Housing Start Data
May 2016
Toronto CMA1April 2016May 2016
Trend241,63437,324
SAAR37,35933,103
May 2015May 2016
Actual
May — Single-detached1,060934
May — Multiples3,9291,987
May — Total4,9892,921
January to May — Single-detached3,1213,601
January to May — Multiples13,38411,832
January to May — Total16,50515,433

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR). By removing seasonal ups and downs, seasonal adjustment allows for comparison of adjacent months and quarters. The monthly and quarterly SAAR and trend figures indicate the annual level of starts that would be obtained if the same pace of monthly or quarterly construction activity was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.
Detailed data available upon request

Preliminary Actual Housing Start Data by Type
May 2015 – 2016
Toronto CMASingleSemiRowAptTotal
2015201620152016201520162015201620152016
List of Sub- markets
Pickering1230010000223
Ajax312800280005928
Uxbridge600027000330
Vaughan17217401032451063749
Markham82216038130013615
Richmond Hill5088041362300186115
Whitchurch-Stouffville543006162409049
Aurora7555022348600109163
Newmarket0240201602250267
King Township22550000002255
East Gwillimbury2000000020
Georgina Township726000000726
Toronto City124155065001,0211,1641,1951,325
Mississauga1415010941141,019631,127202
Brampton2561598203559800619277
Caledon914681400009960
Town of Mono120000000120
Orangeville4000000040
Oakville75302220354270454110
Milton140060750824
Halton Hills47160007004723
New Tecumseth159020300164
Bradford West Gwillimbury50660070005766
Total Toronto CMA Starts1,060934361028764333,0171,4524,9892,921

Source: CMHC

Preliminary Actual Housing Start Data by Type
Year to Date / 2015 – 2016
Toronto CMASingleSemiRowAptTotal
2015201620152016201520162015201620152016
List of Sub- markets
Pickering6825120100009025
Ajax98730057160015589
Uxbridge1832040000603
Vaughan4097342702411,262441,745360
Markham16668281695804609847491,148
Richmond Hill701120122264900296173
Whitchurch-Stouffville4645001151524154185214
Aurora20321305861150770341421
Newmarket01830223221623139438
King Township101940021600122100
East Gwillimbury49220000004922
Georgina Township351760012120047188
Toronto City327396281931457,4107,8247,9328,373
Mississauga605214161521341,0192571,245459
Brampton79397926252550375138501,7431,456
Caledon1531201424281600195160
Town of Mono120000001121
Orangeville2411001850004261
Oakville713260223123147930581609
Milton72672011339207135394241
Halton Hills232290011340024363
New Tecumseth46332364027113480157485
Bradford West Gwillimbury7918226213800094324
Total Toronto CMA Starts3,1213,6013783141,8661,80811,1409,71016,50515,433

Source: CMHC

Date Published: June 8, 2016