A Missing Middle Initiative report says starts across 34 GTA and Greater Golden Horseshoe municipalities fell 34% in 2025, with condo starts down 52% and sales down 75%.
Pre-construction condo sales plunged 89% and ground-oriented sales 58%, signalling weaker 2026 building activity, while rental starts rose 39% but failed to offset broader declines.
Half the municipalities received an F grade, and the report says high development charges and falling resale prices drove the slump despite planned Ontario-federal tax and fee relief.
Is the GTA's construction collapse a crisis, or an accidental shift towards a more stable, rental-focused housing future?
With new rebates in effect, is Toronto's housing market finally recovering or is this just a temporary thaw?