Toronto Housing Starts Remain Steady in March 2016

TORONTO, April 8, 2016 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 41,916 units in March 2016 compared to 42,252 in February 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.

“The housing starts trend remained largely unchanged in Toronto this past March,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “Home starts have been bolstered by a steady number of new apartment starts. What’s more, low inventories of resale homes and strong new home sales over the past couple of years continue to encourage high-rise starts in Toronto”.

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 55,988 units in March, up from 46,974 units in February. The increase was the result of greater apartment and row starts.

The City of Toronto recorded the highest number of starts within the Toronto CMA due to a large number of apartment starts in March. Markham recorded the next highest number of starts as a result of higher apartment units. This was followed by Brampton, where single-detached and row 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
416-218-3320
Cell: 647-210-7420
aritacco@cmhc.ca

Additional data is available upon request.

Preliminary Housing Start Data
March 2016
Toronto CMA1 February 2016 March 2016
Trend2 45,252 41,916
SAAR 46,974 55,988
  March 2015 March 2016
Actual    
March — Single-detached 370 551
March — Multiples 3,235 3,616
March — Total 3,605 4,167
January to March — Single-detached 1,168 1,925
January to March — Multiples 7,068 7,487
January to March — Total 8,236 9,412

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
March 2015 – 2016
Toronto CMA Single Semi Row Apt Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
List of Sub- markets  
Pickering 18 2 10 -- -- -- -- -- 28 2
Ajax -- 38 -- -- -- 12 -- -- -- 50
Uxbridge 9 2 -- -- -- -- -- -- 9 2
Vaughan 19 16 -- -- 25 60 461 -- 505 76
Markham 6 1 2 -- 6 21 -- 984 14 1,006
Richmond Hill 5 7 -- -- 37 6 -- -- 42 13
Whitchurch-Stouffville 3 -- -- -- -- -- -- -- 3 --
Aurora 26 25 -- -- -- 18 -- -- 26 43
Newmarket -- 70 -- -- -- 6 -- -- -- 70
King Township 12 15 -- -- 17 -- -- -- 29 15
East Gwillimbury 11 -- -- -- -- -- -- -- 11 --
Georgina Township 9 7 -- -- -- -- -- -- 9 7
Toronto City 35 48 -- -- 10 32 2,521 2,101 2,566 2,181
Mississauga 9 3 6 -- -- -- -- -- 9 3
Brampton 139 113 56 -- 30 112 -- 50 225 275
Caledon 12 25 6 4 -- -- -- -- 18 29
Town of Mono -- -- -- -- -- -- -- 1 -- 1
Orangeville 2 3 -- -- -- -- -- -- 2 --
Oakville 27 53 -- -- -- 79 -- 30 27 162
Milton 7 3 -- -- 43 5 -- -- 50 8
Halton Hills 5 1 -- -- 11 13 -- -- 16 14
New Tecumseth 8 64 -- 2 -- 31 -- -- 8 97
Bradford West Gwillimbury 8 58 -- 24 -- 31 -- -- 8 113
Total Toronto CMA Starts 370 551 74 30 179 420 2,982 3,166 3,605 4,167

Source: CMHC

Preliminary Actual Housing Start Data by Type
Year to Date / 2015 – 2016
Toronto CMA Single Semi Row Apt Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
List of Sub- markets  
Pickering 36 16 12 -- -- -- -- -- 48 16
Ajax 9 39 -- -- 23 12 -- -- 32 51
Uxbridge 11 3 -- -- -- -- -- -- 11 3
Vaughan 89 48 -- -- 60 60 811 -- 960 108
Markham 16 22 2 -- 6 21 -- 984 24 1,027
Richmond Hill 17 21 -- 8 66 12 -- -- 83 41
Whitchurch-Stouffville 14 2 -- -- -- 9 -- 154 14 165
Aurora 68 105 -- -- 27 18 -- -- 95 123
Newmarket -- 131 -- -- 23 6 -- 6 23 143
King Township 49 27 -- -- 21 -- -- -- 70 27
East Gwillimbury 47 18 -- -- -- -- -- -- 47 18
Georgina Township 19 113 -- -- 12 12 -- -- 31 125
Toronto City 119 162 -- 2 58 65 5,317 4,927 5,494 5,156
Mississauga 29 26 14 2 -- 14 -- 194 43 236
Brampton 319 506 118 20 103 277 138 50 678 853
Caledon 60 61 6 6 28 16 -- -- 94 83
Town of Mono -- -- -- -- -- -- -- 1 -- 1
Orangeville 17 9 -- -- 5 -- -- -- 22 9
Oakville 47 262 -- -- 11 184 15 30 73 476
Milton 63 61 2 -- 68 29 -- 135 133 225
Halton Hills 87 7 -- -- 11 13 -- -- 98 20
New Tecumseth 33 185 28 36 27 81 48 -- 136 302
Bradford West Gwillimbury 19 101 2 56 6 47 -- -- 27 204
Total Toronto CMA Starts 1,168 1,925 184 130 555 876 6,329 6,481 8,236 9,412

Source: CMHC

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