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Toronto Housing Starts Edge Down in May 2016

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 CMA1 April 2016 May 2016
Trend2 41,634 37,324
SAAR 37,359 33,103
  May 2015 May 2016
Actual    
May — Single-detached 1,060 934
May — Multiples 3,929 1,987
May — Total 4,989 2,921
January to May — Single-detached 3,121 3,601
January to May — Multiples 13,384 11,832
January to May — Total 16,505 15,433

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 CMA Single Semi Row Apt Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
List of Sub- markets  
Pickering 12 3 0 0 10 0 0 0 22 3
Ajax 31 28 0 0 28 0 0 0 59 28
Uxbridge 6 0 0 0 27 0 0 0 33 0
Vaughan 172 17 4 0 10 32 451 0 637 49
Markham 82 2 16 0 38 13 0 0 136 15
Richmond Hill 50 88 0 4 136 23 0 0 186 115
Whitchurch-Stouffville 5 43 0 0 61 6 24 0 90 49
Aurora 75 55 0 22 34 86 0 0 109 163
Newmarket 0 24 0 2 0 16 0 225 0 267
King Township 22 55 0 0 0 0 0 0 22 55
East Gwillimbury 2 0 0 0 0 0 0 0 2 0
Georgina Township 7 26 0 0 0 0 0 0 7 26
Toronto City 124 155 0 6 50 0 1,021 1,164 1,195 1,325
Mississauga 14 15 0 10 94 114 1,019 63 1,127 202
Brampton 256 159 8 20 355 98 0 0 619 277
Caledon 91 46 8 14 0 0 0 0 99 60
Town of Mono 1 20 0 0 0 0 0 0 1 20
Orangeville 4 0 0 0 0 0 0 0 4 0
Oakville 7 53 0 22 20 35 427 0 454 110
Milton 1 4 0 0 6 0 75 0 82 4
Halton Hills 47 16 0 0 0 7 0 0 47 23
New Tecumseth 1 59 0 2 0 3 0 0 1 64
Bradford West Gwillimbury 50 66 0 0 7 0 0 0 57 66
Total Toronto CMA Starts 1,060 934 36 102 876 433 3,017 1,452 4,989 2,921

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 68 25 12 0 10 0 0 0 90 25
Ajax 98 73 0 0 57 16 0 0 155 89
Uxbridge 18 3 2 0 40 0 0 0 60 3
Vaughan 409 73 4 2 70 241 1,262 44 1,745 360
Markham 166 68 28 16 95 80 460 984 749 1,148
Richmond Hill 70 112 0 12 226 49 0 0 296 173
Whitchurch-Stouffville 46 45 0 0 115 15 24 154 185 214
Aurora 203 213 0 58 61 150 77 0 341 421
Newmarket 0 183 0 2 23 22 16 231 39 438
King Township 101 94 0 0 21 6 0 0 122 100
East Gwillimbury 49 22 0 0 0 0 0 0 49 22
Georgina Township 35 176 0 0 12 12 0 0 47 188
Toronto City 327 396 2 8 193 145 7,410 7,824 7,932 8,373
Mississauga 60 52 14 16 152 134 1,019 257 1,245 459
Brampton 793 979 262 52 550 375 138 50 1,743 1,456
Caledon 153 120 14 24 28 16 0 0 195 160
Town of Mono 1 20 0 0 0 0 0 1 1 21
Orangeville 24 11 0 0 18 50 0 0 42 61
Oakville 71 326 0 22 31 231 479 30 581 609
Milton 72 67 2 0 113 39 207 135 394 241
Halton Hills 232 29 0 0 11 34 0 0 243 63
New Tecumseth 46 332 36 40 27 113 48 0 157 485
Bradford West Gwillimbury 79 182 2 62 13 80 0 0 94 324
Total Toronto CMA Starts 3,121 3,601 378 314 1,866 1,808 11,140 9,710 16,505 15,433

Source: CMHC

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