New Condominiums Bloor/Yonge Streets

Toronto housing starts fell sharply by 25 per cent in November from a month earlier according to a report from Canada Mortgage and Housing Corporation.   

Seasonally adjusted and annualized Toronto housing starts hit 25,000 units compared to 34,200 in October.   

November's Toronto housing starts moderated after three straight months of increases.   

The reason, the decline was due to apartment and  Toronto Condominium starts that can move from month to month in number of units started.   

A Toronto Condo is considered started when the concrete foundations are poured so one or two Condominium projects can affect the total numbers immensely.   

I was always wondering about the CMHC numbers as they were seasonally adjusted and had an annualized rate for housing results and these reports swing a lot from month to month, so much I preferred not to report them because next month we could theoretically see a 100 per cent increase or more.   

I am a Toronto Real Estate Board fan first, for their great bi-weekly reports and Urbanation can also put out some great data along with Remax and Royal Lepage in their regular reports of housing for resale numbers. 

CMHC advise Toronto Condominiums sold in the peak year of 2007 are now coming into the construction phase so elevated start levels(no pun intended) will occur in 2010. 

There are 35,000 to 40,000  Toronto Condominiums now under construction scheduled to be completed in 2010 and 2011. 

Are you sitting down? The city of Toronto planning department advises what we all see in the way of new Condo projects is just half of what is planned!

The November Toronto resale housing report will show recent results in Toronto Real Estate

Pictured above are the Crystal Blu Condominiums and the Uptown Condos located at Yonge and Bloor Streets.