Toronto ‘epicenter of weakness’ for housing as Ontario’s 1.5M goal slips further away
Global News
A recent report identified Toronto's homebuilding as the "epicentre of weakness" and the latest figures show Ontario's goal of 1.5 million homes is slipping further away.
In the wake of a report identifying Toronto as Canada’s “epicenter of weakness” for homebuilding, the Ford government is unwilling to say if it can still build 1.5 million new homes by 2031.
The most recent data from the Canada Mortgage and Housing Corporation show that roughly halfway through 2025, Ontario is enjoying an even less productive year than it did in 2024, when it fell tens of thousands of units short of its targets.
From January to July this year, Ontario has seen just 33,821 new houses start, a drop of 25 per cent from the numbers it recorded at the same time last year.
The data shows Ontario’s figures are by far the worst in the country.
Starts in Quebec are up 38 per cent year-on-year, while British Columbia is down four per cent. Atlantic Canada is up 16 per cent, and the Prairies have increased by 24 per cent.
A report from the CMHC published this week noted “confidence was especially weak in Ontario and British Columbia,” adding starts on new condos in Toronto had “plummeted,” with presales at their lowest level since 2009.
“Among Canada’s largest cities, Toronto was the epicenter of weakness for residential construction in the first half of 2025,” the report added. “While all housing types in the region posted annual decreases over this period, the condominium apartment segment — facing ongoing struggles — was the largest drag on activity.”
The Ontario NDP said the government had “thrown in the towel” on housing.
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