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Toronto Housing Starts Post Healthy 2016

TORONTO, January 10, 2017 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 37,269 units in December compared to 39,230 in November 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.

“Compared to earlier in the year, new home construction slowed down in Toronto during the final month of 2016,” said Andrew Scott, CMHC Senior Market Analyst for the GTA. “While fewer apartment starts have led to an overall annual decline when compared to 2015, single-detached home starts were up by 16%, hitting their highest level in nearly a decade. This demand for new homes is supported by improved economic conditions and migration.”

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 34,396 units in December, up from 30,560 units in November. The increase was the result of greater apartment starts.

The City of Toronto recorded the highest number of starts among municipalities in December, as construction of many new apartment units started. Not far behind was Brampton, which resulted from mostly single-detached and row unit starts. This was followed by Mississauga, where construction started on a number of apartment units. The municipalities of East Gwillimbury, New Tecumseth and Brampton led the increase in singe-detached construction in 2016. Meanwhile, the decline in apartment construction was the result of fewer apartments built in suburban areas like Vaughan and Mississauga.

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
December 2016
Toronto CMA1 November 2016 December 2016
Trend2 39,230 37,269
SAAR 30,560 34,396
  December 2015 December 2016
Actual    
December — Single-detached 1,007 1,350
December — Multiples 1,126 1,635
December — Total 2,133 2,985
January to December — Single-detached 10,223 11,884
January to December — Multiples 32,064 27,143
January to December — Total 42,287 39,027

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
December 2015-2016
Toronto CMA Single Semi Row Apt Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
List of Sub-markets  
Pickering -- -- -- -- -- -- -- -- -- --
Ajax 13 3 -- -- -- -- -- -- 13 3
Uxbridge 3 1 -- -- -- -- -- -- 3 1
Vaughan 122 121 2 -- 68 49 34 -- 226 170
Markham 9 2 -- -- -- 42 -- 60 9 104
Richmond Hill 7 55 -- -- 15 -- -- -- 22 55
Whitchurch-Stouffville -- 27 -- -- -- -- -- -- -- 27
Aurora 59 59 -- -- 4 4 -- -- 63 63
Newmarket 26 -- -- -- -- -- -- -- 26 --
King Township 60 27 -- -- -- -- -- -- 60 27
East Gwillimbury 1 213 -- 8 -- 56 -- -- 1 277
Georgina Township 37 6 -- -- -- -- -- -- 37 6
Toronto City 167 110 14 16 74 -- 153 715 408 841
Mississauga 11 22 -- 2 -- 30 -- 296 11 350
Brampton 174 311 70 12 134 146 281 124 659 593
Caledon 40 34 -- -- 16 -- -- -- 56 34
Town of Mono 1 9 -- -- -- -- -- -- 1 9
Orangeville 1 1 -- -- 29 7 -- -- 30 8
Oakville 62 77 -- -- 146 35 -- -- 208 112
Milton 74 86 -- -- 4 -- -- -- 78 86
Halton Hills 9 8 -- -- -- -- -- -- 9 8
New Tecumseth 78 148 8 10 18 23 -- -- 104 181
Bradford West Gwillimbury 53 30 12 -- 44 -- -- -- 109 30
Total Toronto CMA Starts 1,007 1,350 106 48 552 392 468 1,195 2,133 2,985

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 227 215 -- 10 140 51 -- -- 367 276
Uxbridge 69 40 10 12 61 16 -- -- 140 68
Vaughan 1,055 813 40 18 244 484 1,785 102 3,124 1,417
Markham 395 326 64 34 447 460 1,158 1,761 2,064 2,581
Richmond Hill 242 454 4 22 438 236 1,224 176 1,908 888
Whitchurch-Stouffville 70 182 2 -- 295 46 54 154 421 382
Aurora 556 689 4 82 236 347 207 179 1,003 1,297
Newmarket 189 307 58 2 23 41 16 231 286 581
King Township 441 281 4 -- 60 10 -- -- 505 291
East Gwillimbury 134 862 -- 60 -- 194 -- -- 134 1,116
Georgina Township 304 325 2 -- 24 48 -- -- 330 373
Toronto City 1,304 1,337 54 76 501 623 17,054 17,581 18,913 19,617
Mississauga 191 159 70 38 249 176 2,192 556 2,702 929
Brampton 2,272 2,706 576 300 1,202 861 544 174 4,594 4,041
Caledon 588 293 90 26 126 73 -- -- 804 392
Town of Mono 109 106 -- -- -- -- -- 1 109 107
Orangeville 38 20 -- -- 47 105 3 -- 88 125
Oakville 403 651 2 46 466 535 907 214 1,778 1,446
Milton 388 509 2 44 310 203 464 135 1,164 891
Halton Hills 334 86 -- 2 86 71 -- 56 420 215
New Tecumseth 376 811 96 58 84 180 48 -- 604 1,049
Bradford West Gwillimbury 401 550 14 64 70 80 -- -- 485 694
Total Toronto CMA Starts 10,223 11,884 1,106 898 5,133 4,925 25,825 21,320 42,287 39,027

Source: CMHC

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