Homes under construction in Richmond Hill, Ont. Photo by Cole Burston/Bloomberg FILES

Toronto is on pace for its lowest annual housing starts in 30 years, according to a report released Tuesday by the Canada Mortgage and Housing Corp. (CMHC).

The latest Housing Supply Report showed Vancouver also experienced a slowdown in housing construction in the first six months of this year compared to the same period in 2024.

The regional trends resulted in flat housing starts for Canada’s seven key metropolitan areas, despite some markets across the country building new homes at record or near-record pace.

The CMHC report showed a surge in “purpose-built” rental starts across most of the census metropolitan areas, driven by government support and incentives. However, this was offset by the

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