US EditionPublished • loading... • Updated
Toronto, Vancouver weigh on housing starts in first half of year: CMHC
Condominium construction in Toronto dropped 60%, with investor demand falling and financing challenges causing delays and cancellations, according to Canada Mortgage and Housing Corporation.
- In recent months, the Canada Mortgage and Housing Corporation reported Toronto is on pace for its lowest annual housing starts total in 30 years and identified it as the epicentre of residential construction weakness.
- A pullback in investor demand and Toronto condominium construction fell 60, as developers struggled with financing amid weak pre-construction sales, CMHC reports.
- The condo resale market reached a record high in Q2 as buyers shifted to larger, lower-priced units, while per-capita homebuilding hit its lowest since 1996 but long-term rental market optimism remained.
- CMHC warned the lack of new construction will hurt the GTA's economy and may cause outmigration, homelessness, and lost tax revenue; only marginal recovery is expected in 2026 and 2027, while provincial regulations next year allow deferral of two-thirds of development charges.
- Across Canada, CMHC highlights a stark regional split with Calgary, Edmonton, Montréal, Ottawa, and Halifax building at record paces, but expects only modest recovery through 2027 amid economic uncertainty.
Insights by Ground AI
19 Articles
19 Articles
Toronto, Vancouver Weigh on Housing Starts in First Half of Year: CMHC
Canada Mortgage and Housing Corp. says growth in overall housing starts was flat during the first half of the year compared with 2024, though there were significant regional differences. The agency says cities like Calgary, Edmonton, Montréal, Ottawa and Halifax built homes at paces that were either at or near records or in line with historical averages in the first half of the year, led by the construction of rental apartments. However, slowdow…
·New York, United States
Read Full Article
Toronto construction activity at ‘lowest level since 2009′: CMHC report
Toronto was the “epicentre of weakness” for residential construction in the first half of the year as condo construction slowed and a glut of resale listings discouraged new projects, a new report from Canada’s national housing agency reveals.
·Toronto, Canada
Read Full Article
Coverage Details
Total News Sources19
Leaning Left9Leaning Right2Center4Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 27%
13%
Factuality
To view factuality data please Upgrade to Premium
