Ontario home construction levels up, but still far off pace for 1.5M target

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TORONTO — The pace of new home construction is picking up in Ontario, though it is still far off the levels needed for the government to achieve its pledge to build 1.5 million homes by 2031, the budget released Tuesday shows.

In last year's budget, projections for housing starts had Ontario building fewer than 80,000 new homes in 2024, but that number is now expected to be nearly 88,000.

By the Progressive Conservative government's own count, it actually met 99 per cent of last year's target of building 110,000 homes. However, that is only because they started counting long-term care beds as homes. Nearly 10,000 of those were created last year. "That too shall pass, and what we won't waver on is our commitment to find more ways to get more houses ," he said.

Premier Doug Ford has railed about buildings of four, six or eight storeys sprouting up in neighbourhoods, though the four-unit fourplexes are not necessarily four storeys. Ontario is also spending $155 million to increase a construction funding subsidy for building long-term care homes, which the government said will fast-track the process.

 

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