According to the latest statistics from the Canada Mortgage and Housing Corporation, Toronto Census Metropolitan Area housing starts were trending at 45,114 units during January 2016, up from December’s 44,834.
“With respect to Toronto housing starts, last year’s momentum continued throughout January,” said the Canada Mortgage and Housing Corporation principal marker analyst for the GTA, Dana Senagama. “Low inventory in the resale market and increased new home sales over the past couple of years led to stronger starts of both low and high-rise units.”
January’s standalone monthly seasonally adjusted annual rates of housing starts was 25,329 units, up from December’s 24,732 units.
The City of Toronto itself took the number one spot for highest number of starts due to 725 new apartment units being constructed, followed by Brampton and then Milton.
For more data on Canadian housing starts, visit the Canada Mortgage and Housing Corporation website here.