The numbers don't lie - nearly 100k starts annually won't get Ontario to 1.5M new homes by 2031. realestate realestatenews housing housingstarts Ontario ONpoli
pegged Ontario’s total 2022 housing starts as being just shy of 92,000 — less than, but relatively close to, the Ministry’s figure.Residential Construction Council of Ontario
“Inflation and interest rates need to stabilize to really stabilize the housing market,” says Lyall. “The other thing is, we’ve got to get our costs down, and a huge part of our costs are systemic — they’re government-imposed costs. For example, in the Toronto area, about 30% of the cost of new housing is taxes, fees, levies, and development charges.”
Additionally, 2022 saw numerous changes to Ontario’s Building Code, which now extends to permit the construction of 12-storey mass timber buildings and allow for streamlined multi-unit building approvals. Meanwhile, thein an effort to dissuade non-resident investors from monopolizing housing stock.
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