Toronto Housing Starts Heading Toward Lowest Total in Three Decades

Toronto is experiencing its lowest annual housing starts in 30 years, with condominium construction dropping 60% and rental-apartment starts falling 8% year-over-year. Vancouver also saw declines, with condo starts down 13.4% and many projects stalled due to high development charges. Across Canada's largest cities, housing starts were flat, as rental construction growth offset declines in homeownership markets, raising concerns about future supply and affordability.