/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 07/19/16 -- The majority of builders begin construction once they have achieved more than 70 per cent in sales, mitigating risks associated with speculative building, according to the Toronto Housing Market Insight Report released today by Canada Mortgage and Housing Corporation (CMHC).

Report Highlights

--  The majority of condominium apartment projects (79 per cent) have
    started construction after reaching a sales threshold of 70 per cent or
    more.
--  Projects that started construction significantly below the 70 per cent
    sales threshold are mainly smaller in size or a subsequent phase of a
    larger development.
--  Current unsold inventory is largely concentrated within downtown Toronto
    and Markham where condominium markets are more active.
--  Projects that currently have a high level of unsold inventory started
    construction prior to reaching a sales threshold of 70 per cent.

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QUOTES

"Condo building activity in Toronto seems to be well managed. In spite of this encouraging information, future inventory management remains critical."

Dana Senagama, Principal Market Analyst, GTA

Canada Mortgage and Housing Corporation

This release includes video and is also available at www.cmhc.ca

Additional data is available upon request.

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Contacts:
Media Contact:
Angelina Ritacco
416-218-3320
Cell: 647-210-7420
aritacco@cmhc.ca

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