>Home construction in Ontario has lagged for a number of reasons. Municipalities in the province consistently have the highest development charges and slowest timelines for approval. Steep construction and labour costs have also been a particular challenge in the Greater Toronto Area.
>At the same time, the inventory of unsold homes in Ontario – largely tiny, unwanted condo units – has risen higher and faster than in other provinces, sapping investor interest in preconstruction units and giving builders less incentive to start new projects.
>All of which does not bode well for future supply.
>“While homebuilders and municipalities are keen to respond, factors like the high development and building costs in Ontario and substantial inventory are weighing on the initiation of new projects,” Mr. Hogue wrote in his report.
>“The downturn in Ontario’s housing construction pipeline could have dire consequences for 2026 and beyond if not addressed.”
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>Home construction in Ontario has lagged for a number of reasons. Municipalities in the province consistently have the highest development charges and slowest timelines for approval. Steep construction and labour costs have also been a particular challenge in the Greater Toronto Area.
>At the same time, the inventory of unsold homes in Ontario – largely tiny, unwanted condo units – has risen higher and faster than in other provinces, sapping investor interest in preconstruction units and giving builders less incentive to start new projects.
>All of which does not bode well for future supply.
>“While homebuilders and municipalities are keen to respond, factors like the high development and building costs in Ontario and substantial inventory are weighing on the initiation of new projects,” Mr. Hogue wrote in his report.
>“The downturn in Ontario’s housing construction pipeline could have dire consequences for 2026 and beyond if not addressed.”
!ping Can&YIMBY
We’ve tried nothing and we’re out of ideas