Ontario’s housing starts in Q1 of 2025 were reported at 12,700 units, marking the lowest figures since 2009 and reflecting a 20% decrease from 2024. The financial accountability officer indicated that despite positive economic indicators in sectors like employment and trade, the housing market remains weak. This decline is largely attributed to high construction costs and ongoing housing affordability issues. The government aims to build 1.5 million homes by 2031, but current trends suggest that achieving this goal may be challenging due to various economic pressures and uncertainties.
In the first quarter of 2025, construction started on 12,700 housing units, the lowest level since 2009, and down 20 per cent from the first quarter of 2024.
Home building has been negatively affected by high construction costs and weak sales as households continue to face housing affordability challenges.
While we've made progress, we face challenges beyond our control - global economic uncertainties, supply chain disruptions, and with President Trump's tariffs and tariff threats.
The government set a goal of getting 1.5 million new homes built over 10 years, by 2031, but the province is not currently on track to meet that target.
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