Canada Mortgage and Housing Corporation Says Toronto Housing Starts Dropped Slightly

According to the Canada Mortgage and Housing Corporation, housing starts in Toronto fell to 25,044 units in February from 25,268 units in January, but is a moving average of the last six months of seasonally adjusted annual rates of housing starts.

“February was the coldest month on record for the GTA and frigid temperatures have pushed back some large condominium projects from getting off the ground,” said the Principal of Market Analysis for the GTA for the Canada Mortgage and Housing Corporation, Dana Senagama. “However, more high-rise starts are expected this year due to an increase in pre-construction condominium apartment sales since mid-2013.”

Toronto saw the highest number of starts in the GTA during February, followed by Brampton, and then Aurora. The majority of the starts in Toronto were condominium apartments.

 

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