Toronto March Housing Starts Increase over February

According to the Canada Mortgage and Housing Corporation, housing starts in the Toronto CMA (Census Metropolitan Area) hit 30,194 units in the month of March, up from 25,041 in February.

“Housing starts rebounded to an eight-month high in March due to developers starting new high-rise projects, which are part of an increase in pre-construction condominium apartment sales since mid-2013,” said the Principal of Market Analysis for the GTA for the Canada Mortgage and Housing Corporation, Dana Senagama. “Strong high rise completions so far this year have also enabled builders to channel more resources to new projects.”

Total completions over the first quarter of 2015 reached 21,720 units, and completed condominium units hit a record of 17,166 – this is higher than annual totals over the last three years.

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