2015 Momentum in Toronto Housing Starts Carries Into January 2016

Author: Toronto Real Estate Admin / Category: News Bulletin

TORONTO, February 8, 2016 — Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 45,114 units in January 2016 compared to 44,834 in December 2015 according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“With respect to Toronto housing starts, last year’s momentum continued throughout January,” said Dana Senagama, CMHC Principal Market Analyst for the GTA. “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.”

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The standalone monthly SAAR was 25,329 units in January, up from 24,732 units in December. The increase was the result of greater apartment starts.

Construction of 725 new apartment units within the City of Toronto meant it recorded the highest number of starts within the GTA. Brampton recorded the next highest number of starts comprising mostly single-detached and row units. This was followed by Milton, where apartment construction was robust.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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Information on this release:

Media Contact:
Angelina Ritacco, Public Affairs Advisor, Communications and Marketing
Cell.: 647-210-7420

Additional data is available upon request.

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Source: CMHC

Source: CMHC

Article source: http://www.cmhc.ca/en/corp/nero/nere/2016/2016-02-08-0816b.cfm

GTA REALTORS® Donate $560,414 to Shelter Charities

Author: Toronto Real Estate Admin / Category: Toronto Realtor

Included in the $560,414 charitable contribution is the $10,000 that GTA REALTORS® raised in support of Camp Winston through fundraising efforts at the TREB FEST 2015 and REALTOR® QUEST 2015 events.

Recognizing that young people represent the city’s future, Greater Toronto REALTORS® also support a Children’s Breakfast Program operated in conjunction with the Toronto District School Board’s Toronto Foundation for Student Success. Through sponsorship and volunteerism in the program, REALTORS® work to provide the children with a well-balanced and nutritious breakfast in an effort to help achieve overall health and sustain their learning throughout every school day.

Each year, scholarships are also presented to four graduating high school students in the GTA, to be used towards their post-secondary education and a commercial network scholarship is awarded to a Ryerson University MBA student.

“REALTORS® see firsthand the countless positive impacts that come from having a place to call “home.”  It’s so important in building strong communities that we take care of those less fortunate, and through monetary contributions and volunteerism, GTA REALTORS® consistently demonstrate that they are committed to building a better, stronger city, starting with those who need it most, and are our city’s future,” said Mr. McLean.

Article source: http://www.trebhome.com/market_news/release_market_updates/news2016/nr_charity_2016.htm