Toronto’s homebuilding activity in the first half of 2025 was the lowest on a per-capita basis since 1996, according to a new report from Canada’s national housing agency.
The drop was driven by a 60 per cent year-over-year decrease in condo starts, the new “Housing Supply Report” by Canada Mortgage and Housing Corp. (CMHC) found.
”A pullback in investor demand during the first half of 2025 reduced project feasibility, leading to cancellations, delays, and a sharp drop in construction,” the report said, adding that many industry actors are calling for reduced construction costs and development charges.
