When it comes to measuring the province's progress toward its housing goal, housing starts are a more meaningful metric than approvals. bildgta | realestate realestatenews housing Ontario housingstarts
Recently, the Regional Planning Commissioners of Ontario released an analysis showing that more than 1.1M housing units had been either approved or proposed for construction in Ontario’s major municipalities as of last year. The analysis suggested that municipalities are therefore well on the way to meeting the objective of building 1.5M new homes in a decade — the number that Ontario’s Housing Affordability Task Force has called for to address the province’s housing supply crisis.
The RPCO counted proposed housing unit applications and those being processed, in addition to those that have been fully or conditionally approved. But a proposed housing unit or even an approved housing unit is not guaranteed to turn into a home, because some planned housing projects do not proceed, while others take longer than intended or sit in limbo for a period of time.
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