Just The Facts: Housing Starts Continue To Trend Downward Under Trudeau
Ottawa, ON – Today, the Canada Mortgage and Housing Corporation (CMHC) released their housing data for September, showing that the NDP-Liberal Government is still failing to build enough homes for Canada’s growing population. As a result, housing affordability will continue to remain out of reach for Canadians.
This CMHC report shows that housing starts continue to trend lower while Canada’s population rapidly increases. In fact, the six-month trend reveals a 1.9 percent decrease, from 246,972 units in August to 243,759 units in September.
When comparing September 2024 to September 2023, the results are even worse. Across the country, housing starts were down 15 percent to 18,806 this September compared to 22,194 in September 2023. In Nova Scotia, housing starts collapsed by 40 percent in this same period, while Ontario saw a drop of 37 percent.
Similarly, in Canada’s most expensive cities, the Trudeau Government’s billion-dollar photo-op fund has done nothing to build more homes. In Toronto, when comparing September 2024 to September 2023, the number of housing starts declined by 64 percent, while Montreal and Halifax saw their housing starts decline by 59 percent and 61 percent, respectively.
The NDP-Liberal housing strategy has failed with Trudeau failing to build anywhere near the 5.8 million homes the CMHC has said Canada needs by 2030 to restore housing affordability. Only Common Sense Conservatives will get homes built fast by tying federal infrastructure dollars to housing completions and firing the gatekeepers.