…the Canadian Mortgage and Housing Corporation (CMHC) show total housing starts registered in 2010 for the Toronto Census Metropolitan Area increased by 13 per cent to 29,195 units. In December, the seasonally-adjusted annual rate (SAAR) of total housing starts declined to 17,800.
Toronto housing starts up 13 per cent in 2010
January 11, 2011
The numbers are in for 2010. And they’re looking pretty good.
According to MarketWire:
So housing starts increased 13 per cent from 2009. That might sound like a steady increase, and it is, but it could have been even higher. First of all, developers struggled to find viable sites for construction of single-detached development. Second, developers who applied for building permits pre-recession held off on construction until 2010 (so despite the fact that their true intention to build began in 2010, they ascertained their building permits previously).
The decline in December is attributable to a slight easing in the high-rise sector, after a flurry of new project launches in November, and an overall downward trend in the single-detached housing starts that was seen throughout the year.