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Toronto Housing Starts Decrease in November 2016

TORONTO, December 8, 2016 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 39,195 units in November 2016 compared to 39,689 in October 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.

“Toronto’s housing start trend declined slightly in November due to a slowdown in new apartment construction,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “However, single-detached home starts picked up pace as limited resale listings for low-rise homes continue to cause demand to spill over into 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 30,425 units in November, down from 48,035 units in October. The decrease was mainly a result of more apartment starts.

The City of Toronto recorded the highest number of starts within the Toronto CMA primarily due to higher apartment starts. Milton Township had the highest number of low rise starts followed by the City of Brampton, where a number of single-detached homes started construction.

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-schl.gc.ca

Additional data is available upon request.

Source: CMHC

Preliminary Housing Start Data
November 2016
Toronto CMA1 October 2016 November 2016
Trend2 39,689 39,195
SAAR 48,035 30,425
  November 2015 November 2016
Actual    
November — Single-detached 1,011 1,308
November — Multiples 4,032 1,435
November — Total 5,043 2,743
January to November — Single-detached 9,216 10,534
January to November — Multiples 30,938 25,508
January to November — Total 40,154 36,042

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
November 2015-2016
Toronto CMA Single Semi Row Apt Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
List of Sub-markets  
Pickering 15 22 -- -- -- 4 -- -- 15 26
Ajax 5 10 -- -- 10 -- -- -- 15 10
Uxbridge 1 3 -- -- -- -- -- -- 1 3
Vaughan 33 72 4 -- 8 -- -- -- 45 72
Markham 56 18 2 -- 60 180 478 -- 596 198
Richmond Hill 78 57 -- -- 21 76 -- -- 99 133
Whitchurch-Stouffville 4 15 -- -- 28 -- -- -- 32 15
Aurora 57 49 -- -- 14 -- -- 179 71 228
Newmarket 20 7 -- -- -- -- -- -- 20 7
King Township 20 15 4 -- 26 -- -- -- 50 15
East Gwillimbury 10 165 -- -- -- -- -- -- 10 165
Georgina Township 73 25 -- -- -- 4 -- -- 73 29
Toronto City 88 106 16 6 10 -- 2,719 688 2,833 800
Mississauga 10 14 2 2 19 12 -- -- 31 28
Brampton 272 224 32 18 287 28 113 -- 704 270
Caledon 31 71 18 -- -- 27 -- -- 49 98
Town of Mono 6 13 -- -- -- -- -- -- 6 13
Orangeville 6 8 -- -- -- 7 3 -- 9 15
Oakville 54 19 -- -- 20 -- -- -- 74 19
Milton 85 218 -- 10 115 164 -- -- 200 392
Halton Hills 26 4 -- -- -- -- -- -- 26 4
New Tecumseth 28 73 6 -- 4 28 -- -- 38 101
Bradford West Gwillimbury 33 100 -- 2 13 -- -- -- 46 102
Total Toronto CMA Starts 1,011 1,308 84 38 635 530 3,313 867 5,043 2,743

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 137 162 14 4 24 85 169 -- 344 251
Ajax 214 212 -- 10 140 51 -- -- 354 273
Uxbridge 66 39 10 12 61 16 -- -- 137 67
Vaughan 933 692 38 18 176 435 1,751 102 2,898 1,247
Markham 386 324 64 34 447 418 1,158 1,701 2,055 2,477
Richmond Hill 235 399 4 22 423 236 1,224 176 1,886 833
Whitchurch-Stouffville 70 155 2 -- 295 46 54 154 421 355
Aurora 497 630 4 82 232 343 207 179 940 1,234
Newmarket 163 307 58 2 23 41 16 231 260 581
King Township 381 254 4 -- 60 10 -- -- 445 264
East Gwillimbury 133 649 -- 52 -- 138 -- -- 133 839
Georgina Township 267 319 2 -- 24 48 -- -- 293 367
Toronto City 1,137 1,227 40 60 427 623 16,901 16,866 18,505 18,776
Mississauga 180 137 70 36 249 146 2,192 260 2,691 579
Brampton 2,098 2,395 506 288 1,068 715 263 50 3,935 3,448
Caledon 548 259 90 26 110 73 -- -- 748 358
Town of Mono 108 97 -- -- -- -- -- 1 108 98
Orangeville 37 19 -- -- 18 98 3 -- 58 117
Oakville 341 574 2 46 320 500 907 214 1,570 1,334
Milton 314 423 2 44 306 203 464 135 1,086 805
Halton Hills 325 78 -- 2 86 71 -- 56 411 207
New Tecumseth 298 663 88 48 66 157 48 -- 500 868
Bradford West Gwillimbury 348 520 2 64 26 80 -- -- 376 664
Total Toronto CMA Starts 9,216 10,534 1,000 850 4,581 4,533 25,357 20,125 40,154 36,042

Source: CMHC

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