Here are a few Ontario / Toronto housing supply charts taken from this recent blog post by Mike Moffat (an assistant professor at Ivey Business School):
So what do these tell us?
Well, 2015 was a banner year for the supply of new apartments/condominiums in the City of Toronto. And supply, in general, has been ticking upward for apartments across the province.
But if you’re in the market for a new single-detached, semi-detached, or row house, supply is on the decline in the Toronto CMA. You’re likely going to have to go further out for that.
This, of course, makes sense. The Toronto CMA has been built out. Most of the new growth is now going to need to take place through intensification, which usually means apartments and condominiums.
Though obvious, I think all of this is an important reminder. Because the more difficult and the more expensive we make it to build in our already built-up areas, the more we are encouraging sprawl in “Ontario outside of Toronto CMA.”
At the same time, we are also making it more financially challenging for families to remain in the city. We can talk all we want about 3-bedroom suites and ways to make them more accommodating to children, but that doesn’t mean much if people can’t afford them.