The number of new residential units at the construction stage where concrete has been poured for the footing around the structure.
- In 2019, the number of housing starts in Peel increased to 5,011 units.
- The number of housing starts recorded annually has fluctuated significantly in recent years in response to changing market conditions.
- Since 2017, multiple starts have outnumbered singles starts in Peel.
In 2019, the number of housing starts in Peel increased to 5,011 units, which was comparable to 4,978 units recorded in 2018.
Variations in the annual level of starts in Peel have increased in recent years in response to changing conditions in Ontario’s housing market.
As the housing market rebounded in 2019, the number of housing starts also increased.
The housing market adjusted to the federal and provincial policies from 2017. Conditions in Ontario did not change significantly in 2019 resulting in relative stability in the number of housing starts registered in Peel.
Housing Starts by Segment
The long-term shift in Peel’s housing starts towards the multiple segment of the market continued in 2019.
In 2019, there was relatively strong growth in the multiple segment of the market, while single starts fell below levels attained in 2018.
In 2019, changes were as follows:
- Multiples: up by 72.9 per cent to 6,289 units; and
- Singles: down by 25.4 per cent to 1,001 units.
Multiples starts increased its share of total starts to 80 per cent in 2019, as compared to 73 per cent in 2018.
Singles starts lost its share from 27 per cent in 2018 to 20 per cent in 2019.