Slide 1:
Toronto’s housing starts fell to the lowest level since 1996, hitting a 30-year low.
Slide 2:
Purpose-built rental starts declined ~10%, yet remain above Toronto’s 10-year average.
Slide 3:
High construction costs, tariffs, and limited municipal infrastructure are slowing new Toronto projects.
Slide 4:
Recent completions boosted resale supply, softening prices and increasing lease-up times for landlords.
Slide 5:
Marginal recovery expected 2026-2027, keeping Toronto construction activity well below historical levels.

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