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Residential Housing Starts

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Data source – Canadian Mortgage and Housing Corporation (CMHC)

  • For the full year, (January – December 2017), the total number of housing starts recorded in Peel Region was 6,739 units, an increase of 25.7 per cent when compared with 2016.
  • The increase registered represented a rebound in the housing activities following a 33.8 per cent decline in the number of starts in 2016.
  • The increase in starts observed in 2017 was accredited to the positive performance of the multiple segment of the market in all three Peel municipalities.
  • The total number of single starts fell solely as a result of a decline in the number of single starts the City of Brampton.

Housing starts by Type

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Data source – Canadian Mortgage and Housing Corporation (CMHC)
  • For the period of January – December 2017, the number of single housing starts in Peel Region declined by 12.2 per cent when compared with the similar period of 2016, reducing the number of single starts in Peel to 2,773 units.
  • The number of multiple housing starts jumped by 79.9 per cent over the same period to a total of 3,966 starts units.
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Data source – Canadian Mortgage and Housing Corporation (CMHC)
  • The relatively strong growth in multiple housing starts in Peel changed the share of the market between the multiple and single starts relative to the market shares recorded in 2016.
  • In December 2016, the multiple starts accounted for 41.1 per cent of the market, while single starts accounted for the remaining 58.9 per cent market share.
  • As of December 2017, the multiple segment of the market accounted for 58.9 per cent of the market, an increase of 17.8 percentage points, while the share accounted for by the single segment of the market fell by the same magnitude to 41.1 per cent.
  • The dominance of the multiple segment of the market in the performance of housing starts in 2017 was evident throughout the year, with multiple starts accounted for the larger share of the market during all four quarters of the year.

Housing starts by Municipality

  • Comparing January – December 2017 with the same period in 2016, total housing starts increased in all the three Peel municipalities.
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Data source – Canadian Mortgage and Housing Corporation (CMHC)
  • Over the period, the City of Mississauga registered an increase of 78.3 per cent (727 units) in the total number of starts, to a total of 1,656 units in 2017.
  • Both single and multiple starts contributed to the increase in Mississauga as follows:
    • Single starts: up by 26 units, representing an increase of 16.4 per cent; and
    • Multiple starts: up by 701 units, representing a 91.0 per cent increase.
  • The number of housing starts recorded in the Town of Caledon doubled from 392 units recorded in January – December 2016 to 784 units in the same period 2017.
  • This was the highest level of housing starts recorded in the Town of Caledon in any one year period.
  • The increase reflected a more than four-fold increase (368.7 per cent) in multiple starts from 99 units in 2016 to 464 units in 2017.
  • The total number of single starts increased by 9.2 per cent (27 units) to a total of 320 units over the same period.
  • In the City of Brampton, the total number housing starts registered in the period January – December 2017 was 4,299 units, representing a 6.4 per cent increase when compared with the same period of the preceding year.
  • Unlike the other two municipalities, there were mixed performances in housing starts activities in the City of Brampton in 2017 as follows:
    • Single starts: down 16.2 per cent (-438 units) to 2,268 units; and
    • Multiple starts: up 52.5 per cent (696 units) to 2,031 units.
  • The increase in multiple housing starts was counterbalanced by the decline exhibited in single starts, resulting in a lower overall change in housing starts in the City of Brampton in 2017.
  • Despite this, housing starts activities in the City of Brampton remained the largest contributor to total housing starts in Peel Region, registering 4,299 units and accounting for 63.7 per cent of total housing starts in Peel Region in 2017.
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Data source – Canadian Mortgage and Housing Corporation (CMHC)
  • In Toronto CMA, the total number of housing starts recorded in 2017 was 38,738 units, down by 0.7 per cent (289 units).
  • The decline reflected the influence of the single segment of the market where the total number of units fell by 14.4 per cent (-1,712 units) to 10,172 units.
  • There was 5.2 per cent increase (1,423 units) in the multiple segment of the market, to 28,566 starts units.
  • However, given the relatively small increase observed in the multiple starts units, it was not enough to outweigh all the decline recorded in single starts, resulting in the decline recorded in the total number of starts.
  • A similar trend was observed in Greater Toronto Area (GTA), as the total number of housing starts went up 1.5 per cent or by 589 units in the period January – December 2017.
  • Multiple starts registered an increase of 5.0 per cent (1,455 units) to reach 30,321 units, but there was a 7.6 per cent decline (866 units) in the single segment of the market, constraining the overall change observed in the GTA to 1.5 per cent.