The recent Municipal Benchmarking Study from the Building Industry and Land Development Association (BILD), warns that the region's new housing supply is lagging dangerously behind population growth. The current gap between new housing stock and population growth in the GTA is the widest it has been in over 50 years. "This is a bright red warning light on the dashboard for all levels of government," says BILD chief executive David Wilkes. "Without bold steps, the housing crisis in the GTA is going to get far worse in the years ahead."
The report highlights that while the GTA's population continues to grow rapidly, housing starts have not kept pace.
High development charges, lengthy approval processes, and restrictive zoning are cited as major barriers to new housing construction.
The shortage affects all housing types but is particularly acute for family-sized units and purpose-built rental housing.
Industry groups are calling for streamlined approvals, reduced fees, and zoning reforms to enable more housing construction.
Without significant policy changes, affordability challenges will continue to worsen, affecting buyers and renters across all income levels.