HOUSING · SECTION
Housing supply, rentals, home prices, mortgages, property issues, and housing policy.
New data from Statistics Canada shows a rise in households spending over 30% of income on housing and experiencing financial difficulty due to costs. The Atlantic provinces face severe pressures with low average incomes.
Average asking rents in Canada have declined for 23 consecutive months, with August recording the steepest drop since March 2026. Analysis shows that cities most exposed to U.S. tariffs are experiencing rent decreases nearly four times faster than those least affected, a trend linked to economic uncertainty following collapsed trade negotiations.
Statistics Canada reports that housing affordability declined in 2024, with 23.2% of households spending over 30% of their income on shelter costs. Renters and homeowners with mortgages faced the most significant financial strain.
The newly revised 'Housing Provident Fund Management Regulations' officially took effect on September 20, 2026. The update expands eligible withdrawal scenarios from six to nine, allows flexible employment personnel to contribute voluntarily, and strengthens risk controls against fraud.
The State Council Information Office announced comprehensive plans for the '15th Five-Year Plan' period, focusing on constructing higher-standard 'Good Houses,' implementing new real estate development models to prevent risks, and launching massive urban renewal projects including pipeline upgrades and community renovations.
New Canadian tariffs on $28 billion of U.S. goods, effective Tuesday, impose levies up to 50% on key construction materials. Industry leaders warn this will exacerbate already high building costs and cause project delays.
Despite a significant drop in benchmark home prices across Canada, housing affordability has not returned to long-run averages. Economists suggest further price declines or income growth are needed for normalization, as interest rate relief appears unlikely.
The Canada Mortgage and Housing Corp. reports that while the national housing supply gap has narrowed slightly, up to 4.7 million new homes are still required over the next decade to restore pre-pandemic affordability. Recent gains in affordability are attributed to slower population growth, but CMHC warns that a expected slowdown in construction, particularly in the ownership market, risks future shortages.
The Government of Canada announced that Bill C-26 has received Royal Assent, providing $1.7 billion to provinces and territories to remove barriers to residential construction. Ontario plans to use its share to offer temporary relief on the federal portion of the Harmonized Sales Tax for new homes.
The Government of Canada has established Build Canada Homes, a new federal agency with an initial capitalization of $13 billion, aimed at doubling the pace of housing construction over the next decade.
