Ontario falling behind on housing targets
According to Ontario’s new budget, housing starts in 2025 are projected to be around 2,800 units lower than in 2024. Alex Beheshti, senior researcher at Missing Middle Initiative, discusses what the projections mean for the future of homes in the province.
The housing market has softened in early 2025, which the government blames on, surprise, economic uncertainty and potential “global trade disruptions.”
The Ford government once aimed to build 100,000 new homes per year. It’s nowhere close.
Home starts are expected to slow in 2025 to 71,800 – hampered further by supply chain pressures and higher material costs.
Even in 2028, housing starts are only expected to climb as high as 86,000, and there’s good reason to be skeptical of that figure.
Last year’s budget predicted 87,900 housing starts and the total wound up at 74,600.
If you own a home, the average resale price is expected to dip by 1.2 per cent in 2025 with modest growth expected after that.
