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Ontario housing start projections fall again as 1.5 million goal gets further away
- Ontario's government plans to build 1.5 million new homes by 2031, as announced in 2022 and reaffirmed in the 2025 budget.
- This target stems from the Ontario Housing Affordability Task Force's recommendation to address supply shortages and rising housing costs amid population growth.
- However, Ontario's housing starts are projected to fall well below the needed 150,000 annually, with forecasts showing 71,800 units in 2025 and an 18% decline over three years.
- Finance Minister Peter Bethlenfalvy emphasized the government's ongoing commitment to reaching its housing target, while noting that tariffs and current market challenges have slowed progress.
- As a result, Ontario's housing supply goals remain distant, prompting new legislation, infrastructure spending, and a $50 million plan to increase modular home capacity.
9 Articles
9 Articles
Cambridge Times
Ontario budget allocates millions to accelerate homebuilding. Will it be enough?
Recent data suggests Ontario is falling behind in its goal to build at least 1.5 million new homes by 2031. The objective was first announced by the Doug Ford Progressive Conservative government in 2022.
Ontario housing start projections fall again as 1.5 million goal gets further away #Canadian #CDNNews #CanadaNewsToday #CanadaPolitics
Ontario is slipping further from its goal of building 1.5 million homes by 2031, according to new data released as part of the province’s annual budget, which shows the province will start building less than half the number of units required this year. The latest housing starts data, based on private-sector analysis, revises down already grim estimates from previous budgets, which have consistently shown Ontario will not be able to meet its self…
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