From 2013 to 2022, Canada’s population grew by 427,439 people annually yet only 196,872 housing units were completed annually.
In Canada, "ground-oriented” housing is 31 per cent more expensive than before the pandemic.
Among Canada’s largest metropolitan areas, the three with the fewest housing units per 1,000 were in Ontario.
Canada’s Housing Mismatch: Many Canadians prefer ground-oriented homes, but not enough are being built
Insufficient supply relative to demand means fewer homes available to renters and buyers alike.
The situation in California has important implications for Canada’s least-affordable cities including Vancouver and Toronto.
The typical number of approval bodies with veto power over rezoning increased in many cities.
Increasing demand for something in short supply will result in higher prices.
Average rents grew by 2.5 per cent, amounting to about $30 more per month.
In the Greater Golden Horseshoe, approval timelines average one-and-a-half years.