This month's industry updates focus on the pressing issues shaping the housing landscape in the greater Golden Horseshoe area. From a decline in single-family home construction to a rise in housing starts nationally, the latest data highlights the complexity of addressing a growing housing crisis. Meanwhile, a new Habitat for Humanity house in Mississauga and new leadership in Toronto's planning office signal progress despite the challenges. The industry continues to champion collaboration and innovation as we move into 2025 with webinars, networking and training sessions, and a symposium on Toronto transit.
Toronto skyline, image by UrbanToronto forum contributor DarkSideDenizen
Announcements
The majority of Canadians view homeownership as a luxury amid the housing crisis
Habitat for Humanity Canada's third annual affordable housing survey highlights the growing consensus among Canadians that homeownership has become a luxury. A staggering 84% of respondents believe that buying a home is out of reach, while 88% of renters believe that owning a home is out of reach. Younger generations are particularly affected: Two-thirds of Generation Z are delaying family plans and 44% say there are fewer job opportunities due to relocation to affordable housing.
The number of single-family homes in Ontario is falling to its lowest level since 1955
New data from Ontario's Financial Accountability Office (FAO) shows a significant decline in single-family home construction, marking the lowest level in 69 years. Between April and September 2024, housing starts fell 17% year-on-year, with just 20,600 housing units under construction – well below the four-year average of 22,900. The FAO report highlights the challenges facing Ontario's goal of building 1.5 million homes by 2031, noting that quarterly housing starts would need to nearly double to meet that goal.
Canadian housing starts rise 8% in October despite regional differences
The Canada Mortgage and Housing Corporation (CMHC) reported an eight per cent increase in the annual housing starts rate in October, reaching 240,761 units compared to 223,391 in September. Most of the growth was new construction of urban multifamily housing, including apartments and townhouses, up seven percent to 175,705 units, while new construction of single-family homes in the city increased one percent. Despite this increase, CMHC highlighted regional differences, with the Prairies, Quebec and Atlantic provinces seeing increases while Ontario and BC saw declines.
GTA Home Sales Rise 40% YoY in November
The GTA housing market showed improvement in November 2024, with home sales increasing 40% year-over-year to 5,875 transactions. While new listings also increased by 6.6% to 11,592, slower supply growth led to tighter market conditions and upward pressure on prices. Jennifer Pearce, president of the Toronto Regional Real Estate Board (TRREB), highlighted that lower borrowing costs and lower inflation have brought more buyers back to the market, setting the stage for a stronger recovery in 2025.
Tran family celebrates new Habitat for Humanity home in Mississauga
Habitat for Humanity Halton-Mississauga-Dufferin (HMD) celebrated a milestone when the Tran family received the keys to their new home in Mississauga just in time for Christmas. Built in collaboration with The Daniels Corporation, the home represents a step toward stability and better future prospects for families through affordable homeownership. The event highlighted the impact of community-focused efforts, with Eden Grodzinski, CEO of Habitat HMD, and representatives from Daniels emphasizing the importance of collaboration in creating inclusive communities.
Jason Thorne named Toronto's new chief planner
Jason Thorne, Hamilton's former general manager of planning and economic development, was named Toronto's new chief planner on Dec. 30. With over 25 years of experience in the public and private sectors, Thorne was praised by Mayor Olivia Chow as a “proven urban builder” who would focus on increasing housing supply. Thorne takes on the position at a time when Toronto is overhauling its planning policies to accommodate a growing population, including increasing neighborhood density and legalizing residential homes across the city.
Events and awards
Upcoming new building code compliance meeting scheduled for January
The Building Owners and Managers Association (BOMA) Toronto continues its Best Practice & Compliance series with an online meeting on January 21, 2025 to examine the impact of the upcoming new building code on existing buildings. Industry experts Steven Grant of LRI Engineering Inc. and Duncan Rowe of RJC Engineers will provide insight into best practices to ensure compliance during operations and renovations. The event is free for members and $25 plus HST for non-members and provides an opportunity to stay up to date on important regulatory changes.
The Elevator Safety and Compliance webinar focuses on Ontario regulations
BOMA will also offer an online elevator safety and regulatory compliance session on January 29, 2025. Martin Ouimet, COO of KJA, will guide participants through updates and best practices for safe and efficient elevator operation in accordance with Ontario standards. The event is free for members and $25 plus HST for non-members.
Industry Ski Day returns to Craigleith Ski Club in January
Meet industry colleagues and enjoy a day on the slopes at Craigleith Ski Club in the Blue Mountains during BOMA Ski Day on January 24, 2025. The event features skiing, snowboarding, beginner courses and a fun race, as well as options for non-skiers. Skiers for snowshoeing. This event precedes a networking party at Mother Tongue Asian Bistro on January 23rd and includes breakfast, lunch and après-ski snacks. Tickets start at $285 for members and $360 for non-members.
The “Advanced Building Science” webinar offers detailed training on the topic of energy efficiency
ENERQUALITY's two-part Advanced Building Science online course, taking place January 14-15, 2025, provides insight into energy-efficient home building practices. Aimed at both experienced professionals and newcomers, sessions explain the principles essential to high-performance construction and green building certifications. The course is hosted via Zoom and takes place daily from 1:00 p.m. to 4:30 p.m. The registration price is $399 plus HST.
10th annual transportation symposium exploring the future of public transit in Toronto
The Toronto Region Board of Trade's 10th Annual Transportation Symposium, “From Gridlock to Growth,” will bring together policymakers, industry leaders and innovators on March 26, 2025 at The Quay at 100 Queens Quay East. Presented by Alstom and AtkinsRealis, the event addresses transportation challenges such as congestion, infrastructure and trade corridors, while exploring solutions such as digital twin technologies and multimodal mobility hubs. With a full day of discussion and networking, it offers the opportunity to shape Toronto's transportation future.
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