Articles tagged with "Forecast"

The financial accountability officer of Ontario reported that housing starts in the first quarter of this year reached their lowest level since 2009. Despite this decline, other economic indicators in Ontario, such as employment and trade metrics, showed positive trends. The reduction in housing starts may influence future construction policies and strategies.

Invesque has sold 20 seniors housing communities to Commonwealth Living and divested its majority stake in the management company. The proceeds from the sale were used to repay debt and settle equity obligations. This sale is part of Invesque's strategy to reduce leverage and prepare for potential shareholder approval to sell or lease substantially all of its assets. Invesque continues to face financial challenges, and its current portfolio consists of 32 assets, with 12 under contract for sale.

Infrastructure Ontario has announced a $200 billion pipeline of projects, which includes 28 infrastructure projects in procurement and 19 projects in the planning phase, with seven newly introduced. This major development was revealed during a Market Update presentation in June 2025. The update also notes a review in the use of Public-Private Partnerships (P3s).

Hamilton has achieved a significant milestone by surpassing $1 billion in construction value for building permits issued in 2025, marking the earliest point this has been accomplished. The city’s achievement is noteworthy given the challenging economic conditions. This record-breaking milestone underscores Hamilton’s robust construction industry and economic resilience.

The Minister of Municipal Affairs and Housing acknowledged that Ontario is significantly behind on its housing construction targets, labeling the situation as a 'major crisis.' The admission highlights the challenges the province faces in increasing housing availability. Efforts are being made to address this shortfall, but progress remains insufficient.

Infrastructure Ontario's latest Market Update reveals 28 major projects in various stages of procurement, amounting to over $30 billion, with additional projects in early planning and numerous capital repair projects. These initiatives are part of a broader strategy to enhance infrastructure, including health and public facilities, and boost economic resilience across Ontario. Key upcoming projects include forming vibrant communities near transit hubs, potentially adding 340,000 housing units. Recent achievements involve substantial completions and projects entering new phases, signifying ongoing progress in Ontario's infrastructure development.

Investment in Ontario's ICI building construction sector increased by 17% year-over-year in Q1, according to OCS. The institutional sector showed the highest growth, with medical facilities, transportation, and educational buildings leading the way. Notable projects include the Windsor Acute Care Hospital and expansions in Thunder Bay and Barrie. Infrastructure investment also rose sharply in the transportation and utilities sector, particularly in Oshawa, London, and Ottawa.

The Toronto Regional Real Estate Board (TRREB) reported a 4% decline in average house and condominium prices in the Greater Toronto Area in May compared to the previous year, making the market more affordable. This decrease is attributed to fewer transactions and more properties being listed, enhancing buyers' bargaining power. Confidence issues related to the ongoing US-Canada trade war also contributed to the restrained market activity. A total of about 6,200 properties were sold, down 13.3% from the previous year, while new property listings increased by 14%.

The construction of a crucial road to access Ontario's mineral-rich Ring of Fire is delayed, with the earliest start date of 2028 unless the necessary planning processes are bypassed. Recent legislation has faced criticism for possibly not addressing the immediate needs of the Ring of Fire project. The delay in infrastructure development raises concerns about the potential economic opportunities for the region. Stakeholders highlight the importance of timely government action and policy adjustments to ensure project viability.

As Canada's population grows and urban land becomes scarce, cities must look to vertical development. In Toronto, anticipating half-a-million new residents by 2030, building tall is essential. While towering structures can seem extravagant, they are increasingly necessary for accommodating future residents efficiently.

The preconstruction condo market in Ontario, particularly in Toronto and Hamilton, faces significant challenges as unsold units remain high. Buyers are deterred by steep construction costs, government taxes, and risks such as possible fraud and legal complications. Some industry experts believe that future economic stabilization may revive interest, but others remain skeptical given the high prices and the potential for construction issues. Additionally, recent fraud cases have highlighted regulatory deficiencies in the industry.

A report by Ratehub.ca indicates a decline in housing prices in seven Canadian cities, with Hamilton experiencing the most significant drop. The report highlights that more affordable properties are entering the market, attracting first-time buyers. Despite stable mortgage rates, price adjustments in cities like Hamilton and Toronto are leading to improved housing affordability. Conversely, cities like Regina and Montreal saw housing prices increase.