Toronto, June 23, 2025 (GLOBE NEWSWIRE) — Greater Toronto Area, June 23, 2025 – A new article by Altus Group, prepared for the Building Industry and Land Development Association (BILD) and the Ontario Home Builders’ Association (OHBA) demonstrates that without significant intervention to jump-start the housing sector, almost 50 per cent of residential construction sector jobs in the Greater Toronto Area (GTA) are at risk. The article further outlines that without action, by 2027, housing starts could fall by more than 60 per cent versus 2024 levels and construction investment could drop by over $10 billion in the GTA. The article joins a growing body of research that points to the need to urgently cut the GST/HST on all new homes.
“The pipeline of future housing supply for the GTA is at risk, along with the livelihood of 41,000 workers in the region and billions of dollars of investments,” said Dave Wilkes, President and CEO of BILD. “Alongside this massive risk we now know, due to economic analysis undertaken on the cost for governments to eliminate the GST/HST on new homes, that the provincial and federal governments can mitigate against this by treating the new home buyers of today more equitably.”
Altus Group’s paper can be found here. It provides analysis on the need to increase the urgency of addressing …