A new report commissioned by the Residential Construction Council of Ontario (RESCON) is painting a grim picture of Ontario’s housing future, revealing construction starts across the Greater Toronto Area (GTA) have plummeted, and the worst may be yet to come.
The Q2 2025 Housing Report Card, published by the University of Ottawa’s Missing Middle Initiative and commissioned by RESCON found that housing starts across 34 municipalities have dropped by a staggering 40 per cent in the first half of 2025 compared to the previous four-year average.
The drop is especially sharp for condo apartments, which saw a 54 per cent decline, while purpose-built rentals were one of the few bright spots, up by just eight per cent.