Toronto Housing Starts Heading Toward Lowest Total in Three Decades

Toronto is experiencing its lowest housing starts in 30 years due to declines in condominium construction, largely driven by reduced investor demand and high costs. Rental-apartment construction also decreased, although less sharply, and similar trends were observed in Vancouver due to high development charges and pre-sale requirements. Across Canada, while purpose-built rentals helped stabilize figures, overall homebuilding was flat with notable declines in major cities like Toronto and Vancouver. This poses risks to housing supply, workforce retention, and affordability, prompting calls for systemic changes in the housing sector.