Residential Housing Starts

We measure progress towards long-term outcomes by tracking key indicators for the Peel community.

Why is this important?

• The amount of residential housing starts measures new units at the first stage of construction.
• Housing starts reflect the health of the local economy and how well the Region of Peel is managing growth.
• The number of housing starts is influenced by mortgage interest rates.¹
• The Region of Peel's Growth Capital Program currently assumes that 6,000 residential housing starts per year will help finance the infrastructure planned for growth.

How is this measured?

• The Canada Mortgage and Housing Corporation conduct a monthly Starts and Completions Survey in urban areas with 50,000 people or more.
• In this Survey, a housing start is defined as the beginning of construction work on a building, usually when the concrete has been poured for the whole of the footing around the structure.²

What progress are we making?

• Over the past five years, the number of housing starts in Peel has averaged under the desired 6,000 units per year.