A rapid uptick in prices driven in large part by robust demand combined with a tight supply of both resale and new homes has created a vicious circle for buyers in the Greater Toronto Area housing market. Many potential move-up buyers are frequently outbid in multiple-offer situations, causing an even more drastic supply shortage for first-time buyers
The Neptis Foundation estimates 10,800 of the 56,200 hectares designated for urbanization inside the Greenbelt by the Ontario government in 2006 were developed by 2016. Neptis said in an October, 2016, report that that ‘leaves 80 per cent of the designated land supply to accommodate another 15 years’ worth of growth to 2031 and possibly beyond.’
Toronto Real Estate
Board boundary
Greenbelt
Regional
boundaries
Developed
areas
Lake
Simcoe
CFB
Borden
Barrie
Shelburne
New
Tecumseth
DURHAM
Newmarket
Orangeville
YORK
Oshawa
Ajax
Markham
Vaughan
PEEL
Brampton
TORONTO
Mississauga
HALTON
Lake Ontario
Oakville
NEW YORK
0
20
Hamilton
St. Catharines
KM
Active housing resale listings by region
February
2017
2016
5,070
1,929
1,933
928
2,298
710
897
1,059
398
538
TORONTO
DURHAM
HALTON
YORK
PEEL
Housing supply
Active resale listings, February*
Toronto
Rest
2012
6,090
8,456
2013
6,335
9,634
2014
5,797
8,222
2015
5,506
7,287
2016
5,070
5,832
2017
2,298
3,102
Remaining new home inventory
Monthly, in thousands
25
20
15
High-rise
10
5
Low-rise
0
‘07
‘09
‘11
‘13
‘15
‘17
Toronto CMA** growth
Dwellings
Population
5,928,040
5,583,064
2,235,145
2,079,459
2011
2016
*Toronto Real Estate Board data include co-listings with The Barrie & District Association of Realtors and the Orangeville & District Real Estate Board
**Toronto Real Estate Board and Statistics Canada’s Toronto census metropolitan area (CMA) boundaries differ
michael bird and john sopinski/
the globe and mail, sources: TORONTO REAL
ESTATE BOARD; CANADA mortgage and HOUSING
CORP.; STATISTICS CANADA; Building Industry &
Land Development Assoc.; Altus Group Ltd.
The Neptis Foundation estimates 10,800 of the 56,200 hectares designated for urbanization inside the Greenbelt by the Ontario government in 2006 were developed by 2016. Neptis said in an October, 2016, report that that ‘leaves 80 per cent of the designated land supply to accommodate another 15 years’ worth of growth to 2031 and possibly beyond.’
LEGEND
Greenbelt
Developed
areas
Regional
boundaries
Toronto Real Estate
Board boundary
Lake
Simcoe
CFB
Borden
Barrie
Shelburne
New
Tecumseth
DURHAM
Newmarket
Orangeville
YORK
Oshawa
Ajax
Markham
Vaughan
PEEL
Brampton
TORONTO
Mississauga
HALTON
Lake Ontario
Oakville
NEW YORK
0
20
Hamilton
St. Catharines
KM
Active housing resale listings by region
February
2017
2016
5,070
1,929
1,933
928
2,298
710
897
1,059
398
538
TORONTO
DURHAM
HALTON
YORK
PEEL
Housing supply
Active resale listings, February*
Toronto
Rest
2012
6,090
8,456
2013
6,335
9,634
2014
5,797
8,222
2015
5,506
7,287
2016
5,070
5,832
2017
2,298
3,102
Remaining new home inventory
Monthly, in thousands
25
20
15
High-rise
10
5
Low-rise
0
‘07
‘09
‘11
‘13
‘15
‘17
Toronto CMA** growth
Dwellings
Population
5,928,040
5,583,064
2,235,145
2,079,459
2011
2016
*Toronto Real Estate Board data include co-listings with The Barrie & District Association of Realtors and the Orangeville & District Real Estate Board
**Toronto Real Estate Board and Statistics Canada’s Toronto census metropolitan area (CMA) boundaries differ
michael bird and john sopinski/
the globe and mail, sources: TORONTO REAL
ESTATE BOARD; CANADA mortgage and housing
CORP.; STATISTICS CANADA; Building Industry &
Land Development Assoc.; Altus Group Ltd.
The Neptis Foundation estimates 10,800 of the 56,200 hectares designated for urbanization inside the Greenbelt by the Ontario government in 2006 were developed by 2016. Neptis said in an October, 2016, report that that ‘leaves 80 per cent of the designated land supply to accommodate another 15 years’ worth of growth to 2031 and possibly beyond.’
Lake
Simcoe
0
20
KM
Barrie
CFB
Borden
Shelburne
New
Tecumseth
DURHAM
Newmarket
Orangeville
YORK
400
Oshawa
Ajax
Markham
Vaughan
10
401
407
Brampton
TORONTO
PEEL
Mississauga
Lake Ontario
HALTON
Oakville
403
LEGEND
Greenbelt
Developed areas
Regional boundaries
Hamilton
Toronto Real Estate
Board boundary
St. Catharines
Active housing resale listings by region
February
5,070
2017
2016
1,929
1,933
2,298
928
710
897
1,059
538
398
TORONTO
DURHAM
HALTON
YORK
PEEL
Housing supply
Active resale listings, February*
Toronto
Rest
2012
6,090
8,456
2013
6,335
9,634
2014
5,797
8,222
2015
5,506
7,287
5,070
5,832
2016
2017
2,298
3,102
Remaining new home inventory
Monthly, in thousands
25
20
15
High-rise
10
5
Low-rise
0
‘07
‘09
‘11
‘13
‘15
‘17
Toronto CMA** growth
Dwellings
Population
5,928,040
5,583,064
2,235,145
2,079,459
2011
2016
*Toronto Real Estate Board data include co-listings with The Barrie & District Association of Realtors and the Orangeville & District Real Estate Board
**Toronto Real Estate Board and Statistics Canada’s Toronto census metropolitan area (CMA) boundaries differ
michael bird and john sopinski/the globe and mail, sources: TORONTO REAL ESTATE BOARD; CANADA mortgage and housing CORP.; STATISTICS CANADA; Building Industry & Land Development Assoc.; Altus Group Ltd.