../Morning Post
Posted September 10 , 2010
Housing Starts

Ontario Home Starts Move Higher in August

TORONTO - Ontario preliminary Seasonally Adjusted Annual Rate (SAAR) of home starts across urban(i) centres moved higher in August. An estimated 59,400 residential housing units broke ground, up from a revised 51,400 units in July. The single detached home sector weighed on starts activity while multi family home construction, which includes semi detached, row and apartment dwellings grew last month. With the exception of Kitchener, London and Windsor, all other centers posted increases from the same month one year ago. For the year, Ontario new home construction in urban areas is running 33 per cent above levels for the same period one year ago.

"New home starts moved closer to trend levels in August - boosted by strength in modestly price housing construction. Stronger multi-family home construction will continue, thanks to a backlog of high density sales that have not begun construction, more land available for higher density development and higher housing costs," said Ted Tsiakopoulos, CMHC`s Regional Economist. "Single detached home construction had led the recovery in housing starts beginning in the second quarter of last year. Now single detached starts will moderate in the months ahead", added Tsiakopoulos.

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