FOR IMMEDIATE RELEASE TORONTO HOUSING STARTS JUMP IN NOVEMBER TORONTO, DEC 08, 2010 – The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area increased to 51,100 units in November according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC). “Last month more than made up for the weak showing in October and now pulls us ahead of total starts recorded for 2009,” said Shaun Hildebrand, CMHC’s Senior Market Analyst for the GTA. “All recent data points considered, the level of new housing construction in Toronto has flattened out at about 30,000 units a year, with clear momentum on the high-rise side. This trend is expected to remain in place next year” added Hildebrand.

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TORONTO CMASUMMARY OF NOVEMBER 2010 PRELIMINARY STARTS DATA

Annual2009 Oct. 2010 Nov. 2010 % Chg. Nov. '09 Nov. '10 % Chg. YTD '09 YTD '10 % Chg.

Total 25,949 19,900 51,100 156.8% 2,367 4,364 84.4% 24,230 27,622 14.0%Single-Detached 8,130 7,000 11,400 62.9% 1044 1,051 0.7% 7,076 9,177 29.7%Multiple-Family 17,819 12,900 39,700 207.8% 1,323 3,313 150.4% 17,154 18,445 7.5%

Semi-Detached 2,032 - - - 236 268 13.6% 1,892 1,534 -18.9%Row Houses 2,918 - - - 400 486 21.5% 2,591 4,145 60.0%Apartments 12,869 - - - 687 2,559 272.5% 12,671 12,766 0.7%

Source: Canada Mortgage and Housing Corporation

Raw Data (Nov. '10/Nov. '09) Raw Data (YTD '10/YTD '09)SAAR

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Source: Canada Mortgage and Housing Corporation

November Housing StartsTotal Starts (SAAR)

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As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

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Aussi disponible en français For further information, please contact/ Pour obtenir de plus amples renseignements, veuillez communiquer avec: Toronto CMA: Shaun Hildebrand, at (416) 218-3466 or shildebr@cmhc-schl.gc.ca En français: Ed Heese, (416) 218- 3369 ou eheese@schl.gc.ca Ontario: Ted Tsiakopoulos, at (416) 218-3407 or ttsiakop@cmhc-schl.gc.ca Canada: Charles Sauriol, at (613) 748-2799 or

csauriol@cmhc-schl.gc.ca