É«É«À² had its lowest homebuilding activity on a per capita basis in the first half of 2025 since 1996, according to the Canada Mortgage and Housing Corp. (CMHC).
É«É«À² had its lowest homebuilding activity on a per capita basis in the first half of 2025 since 1996, according to the Canada Mortgage and Housing Corp. (CMHC).
É«É«À²’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 2025Â 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.
ARTICLE CONTINUES BELOW
Record-low preconstruction sales drove construction to its lowest level since 2009, or 1996 on a population-adjusted basis, the report noted.
Rental apartment starts, meanwhile, decreased eight per cent compared the same time period in 2024, remaining “well above” their 10-year average.
Condo construction has supplied much of the region’s rental housing in recent decades, the report added, and the downturn in construction “makes it vital to maintain a steady and growing stream of rental construction.”
The report warned that the construction slowdown of all housing types “could put further pressure on affordability” in the long-term when economic conditions improve and demand picks up.
Manuela Vega is a É«É«À²-based housing reporter for the Star.
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