The number of new residential units at the construction stage where concrete has been poured for the footing around the structure.
- In Q1 2021, Peel’s housing starts increased by 11.0 per cent relative to Q1 2020.
- Over the same period, housing starts in the Greater Toronto Area (GTA) and Toronto Census Metropolitan Area (CMA) increased by 48.1 per cent and 40.7 per cent respectively.
- The continuation of lower interest rates, together with demographic changes, are expected to continue to fuel higher housing starts in Peel and GTA in 2021.
Variations in the annual level of housing starts in Peel reflect changing conditions in Ontario’s housing market.
In Q1 2021, the number of housing starts in Peel increased by 11.0 per cent, from 840 units in Q1 2020 to 932 units in Q1 2021.
Housing Starts by segment
In Q1 2021, both single and multiple housing starts in Peel increased relative to Q1 2020 as follows:
- Multiples: up by 4.5 per cent to 702 units; and
- Singles: up by 36.9 per cent to 230 units.
Due to the increase in demand for housing, housing starts in Peel and the GTA are expected to increase in 2021.