January Housing Starts Below Trend

Apartments by Eric McGregor
Apartments by Eric McGregor

Housing starts in Toronto remain below trend, according to latest report from CMHC. The seasonally adjusted annual rate of total housing starts dropped by 0.5 percent to 20,700 new housing units in January 2010.

“Total starts in Toronto were again weighed down by muted new high rise construction,” said Shaun Hildebrand, CMHC’s Senior Market Analyst for the GTA.

As explained, developers prefer to finish existing projects and are postponing new projects.

There were 1,455 new housing starts. Of this, 947 units were Single-Detached (+110%), 130 Semi-Detached (-42%), 185 Row Houses (-8.4%) and 193 Apartments (-71.6%).

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