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This month’s industry updates focus on the pressing issues shaping the Greater Golden Horseshoe's housing landscape. From declining single-family home construction to an uptick in national housing starts, the latest data highlights the complexity of navigating a growing housing crisis. Meanwhile, a new Habitat for Humanity home in Mississauga and new leadership in Toronto’s planning office signals progress amid challenges. With webinars, networking and training sessions, as well as a symposium on Toronto's transit, the industry continues to champion collaboration and innovation as it heads into 2025.
Announcements
Majority of Canadians View Homeownership as a Luxury Amid Housing Crisis
Habitat for Humanity Canada's third annual Affordable Housing Survey highlights a growing consensus among Canadians that homeownership has become a luxury. A staggering 84% of respondents feel buying a home is out of reach, while 88% of renters echo the sentiment that homeownership is unattainable. Younger generations are particularly affected, with two-thirds of Gen Z delaying family plans and 44% citing fewer job opportunities due to relocating for affordable housing.
Ontario Single-Family Home Starts Drop to Lowest Level Since 1955
New data from Ontario's Financial Accountability Office (FAO) reveals a significant decline in single-family home construction, marking a 69-year low. Between April and September, 2024, housing starts dropped 17% compared to the previous year, with only 20,600 units initiated —well below the four-year average of 22,900. The FAO report highlights the challenges facing Ontario’s goal to build 1.5 million homes by 2031, noting that quarterly housing starts would need to nearly double to meet this target.
Canadian Housing Starts Rise 8% in October Despite Regional Disparities
The Canada Mortgage and Housing Corporation (CMHC) reported an eight percent increase in the annual pace of housing starts in October, reaching 240,761 units compared to 223,391 in September. Urban multi-unit starts, including apartments and townhouses, drove much of the growth, rising seven percent to 175,705 units, while single-detached urban starts edged up by one percent. Despite this uptick, CMHC highlighted regional variations, with the Prairies, Quebec, and Atlantic provinces showing gains, while Ontario and B.C. recorded declines.
GTA Home Sales Climb 40% Year-Over-Year in November
The GTA housing market showed improvement in November, 2024, with home sales rising 40% year-over-year to 5,875 transactions. While new listings also increased by 6.6% to 11,592, the slower supply growth led to tighter market conditions and upward pressure on prices. Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce highlighted that lower borrowing costs and reduced 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 as the Tran family received the keys to their new home in Mississauga just in time for the holiday season. Built in partnership with The Daniels Corporation, the home represents a step toward stability and brighter futures for families through affordable homeownership. The event highlighted the impact of community-driven efforts, with Habitat HMD CEO Eden Grodzinski and representatives from Daniels emphasizing the importance of collaboration in creating inclusive communities.
Jason Thorne Appointed as Toronto's New Chief Planner
Jason Thorne, former General Manager of Planning and Economic Development for Hamilton, has been named Toronto's new Chief Planner, stepping into the role on December 30. With over 25 years of experience in the public and private sectors, Thorne has been praised by Mayor Olivia Chow as "a proven city builder" who will focus on increasing the housing supply. Thorne takes on the position at a time when Toronto is revising planning policies to accommodate a growing population, including increasing neighbourhood density and legalizing rooming houses citywide.
Events & Awards
Upcoming Session on New Building Code Compliance Set for January
Building Owners and Managers Association (BOMA) Toronto continues its Best Practice & Compliance Series with an online session on January 21, 2025, to explore the implications of the upcoming New Building Code for existing buildings. Industry experts Steven Grant of LRI Engineering Inc. and Duncan Rowe of RJC Engineers will provide insights on best practices to ensure compliance during operations and renovations. The event is free for members and $25 plus HST for non-members, offering an opportunity to stay informed on critical regulatory changes.
Elevator Safety and Compliance Webinar Focuses on Ontario Regulations
BOMA will also offer an online session on January 29, 2025, addressing elevator safety and regulatory compliance. Martin Ouimet, COO of KJA, will guide participants through updates and best practices for safe and efficient elevator operations in line with Ontario’s standards. The event is free for members and $25 plus HST for non-members.
Industry Ski Day Returns to Craigleith Ski Club in January
Reconnect with industry peers and enjoy a day on the slopes at Craigleith Ski Club in The Blue Mountains during BOMA's Ski Day on January 24, 2025. The event will offer skiing, snowboarding, beginner clinics, and a fun race, plus options for non-skiers to explore snowshoeing. Preceded by a networking party at Mother Tongue Asian Bistro on January 23, this event includes breakfast, lunch, and après-ski snacks, with tickets starting at $285 for members and $360 for non-members.
Advanced Building Science Webinar Offers In-Depth Training on Energy Efficiency
ENERQUALITY's two-part online course on Advanced Building Science, held January 14-15, 2025, provides a look at energy-efficient homebuilding practices. Designed for both seasoned professionals and newcomers, the sessions explore principles essential to high-performance construction and green building certifications. Hosted via Zoom, the course runs from 1:00 to 4:30 PM each day, with registration priced at $399 plus HST.
10th Annual Transportation Symposium to Address Toronto’s Transit Future
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 will tackle transportation challenges, including congestion, infrastructure, and trade corridors, while exploring solutions like digital twin technologies and multi-modal mobility hubs. With a full day of discussions and networking, it offers an opportunity to shape Toronto’s transportation future.
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