Toronto’s housing start numbers are down 10% compared to last year, which is a clear signal that construction activity has slowed in our city’s core. Currently, there are 37 building permits representing 6,600 condo apartment units where shovels haven’t hit the ground yet. While this slowdown might raise questions, it’s important to remember that some of these projects are still likely to move forward, especially if pre-sales were secured before the recent dip in sales activity. Housing start figures often lag behind what’s really happening on the ground, since Toronto’s larger developments move through many stages—planning, pre-sales, permits—before construction officially begins. As someone who’s worked across residential, commercial, and investment properties in the GTA for years, I know how important it is to read between the lines of these reports. The reality is, today’s housing start data may not capture all the momentum building in the background. Some of those permitted condos could still break ground soon, as the pipeline progresses.
Leave a Reply