Key Issues
Budget 2025
Issue / question
An overview of the department’s initiatives as proposed in Budget 2025.
Suggested response
- Budget 2025 announced the government’s plan to Build Canada Strong by investing in the major infrastructure, homes, and industries that grow Canada’s economy. Some signature investments in the housing and infrastructure portfolio are:
- the new Build Communities Strong Fund, including $51 billion over 10 years and $3 billion per year ongoing to support public infrastructure projects of local and regional significance;
- the increased capitalization of the Canada Infrastructure Bank by $10 billion to enable investments in nation-building projects that have been referred to the Major Projects Office; and
- launching Build Canada Homes with an initial investment of $13 billion over five years to deliver housing at scale by deploying modern construction methods and supercharging home building across the country.
Background
Build Communities Strong Fund
- Budget 2025 provides $51.0 billion over 10 years, starting in 2026-27 and $3 billion per year ongoing for a new Build Communities Strong Fund. Of this, there is:
- $17.2 billion over 10 years for a Provincial Territorial Stream, of which $5 billion over three years is dedicated for a Health Infrastructure Fund.
- $6.0 billion over 10 years for a Direct Delivery Stream to support regionally significant projects, large building retrofits, climate adaptation, and community infrastructure; and
- $27.8 billion over 10 years, with $3 billion statutory ongoing for a rebranded Canada Community Building Fund known as the Community Stream.
- The Direct Delivery and Provincial and Territorial streams should adhere to Buy Canadian requirements and prioritize projects that use Canadian materials. For both streams, project selection should also consider factors related to the use of unionized labour and Community Employment Benefits agreements.
Build Canada Homes
- As previously announced and confirmed in Budget 2025, the government has launched Build Canada Homes (BCH) with an initial $13 billion over five years.
- Budget 2025 proposes to introduce legislation establishing a statutory appropriation of up to $11.5 billion to defray costs related to BCH, and a statutory appropriation of up to $1.5 billion to capitalise Canada Lands Company to support construction on properties held by the corporation.
Other measures
- Increase the capitalization threshold of the Canada Infrastructure Bank (CIB) from $35 billion to $45 billion and enable the CIB to make investments in any nation-building projects that have been referred to the Major Projects Office.
- Increase the Canada Mortgage Bond annual issuance limit from $60 billion to $80 billion to unlock access to cost-effective mortgage funding for lenders. The increase would apply exclusively to multi-unit housing.
- Amend the National Housing Act and the Protection of Residential Mortgage Act or Hypothecary Insurance Act to increase Canada Mortgage and Housing Corporation's guarantees in force limit to $1 trillion and decouple this limit from the corporation's insurance in force limit and to increase the protected limit for mortgage or hypothecary loans to $500 billion.
- Provide $2.8 billion for urban, rural, and northern Indigenous housing, such that, on balance, over $3 billion is available for First Nations, Inuit, and Métis to advance their housing priorities.
Budget Implementation Act - CIB Statutory Capital Increase
Issue / question
The Government of Canada plans to increase the Canada Infrastructure Bank’s statutory capital envelope from $35 billion to $45 billion.
Suggested response
- With this capital increase, the Canada Infrastructure Bank (CIB) can scale up its investments from about $3.5 billion to $5 billion a year at a time when it is most needed across the country.
- This isn’t about spending more; it’s about investing smarter. CIB funding unlocks private investment for projects that wouldn’t otherwise move forward. Its capital is repaid over time and reinvested into new projects. It’s a model that delivers real value for Canadians.
- The CIB has already committed nearly $18 billion across 106 projects, with another $12 billion approved by its Board. That’s close to 90% of its capital. Without an increase, the CIB’s capacity to support new projects would become more limited over time.
- This is a timely investment that ensures the CIB can keep supporting projects that matter—like housing-enabling infrastructure, clean power, Indigenous-led development, and trade and transportation corridors—at a moment when demand is growing across the country.
Background
- Budget 2025 announced the government’s intention to increase the Canada Infrastructure Bank’s (CIB) statutory capital envelope from $35 billion to $45 billion. This increase would allow the CIB to accelerate investment in high-impact infrastructure projects aligned with national priorities.
- As of September 30, 2025, the CIB has committed $17.9 billion through loans and repayable investments across 106 projects, totalling $54.4 billion in capital value, with a further $6.2 billion in Board-approved projects approaching the financial close stage, leaving under $11 billion in available capital.
- The Budget called on the CIB to make significant new investments by prioritizing investments in nation-building projects referred to the Major Projects Office and to invest in projects funded under new programs including the Trade Diversification Corridors Fund, the Arctic Infrastructure Fund, the First and Last Mile Fund, and the Build Communities Strong Fund.
- The capital increase thus reflects a stronger pipeline and an expanded mandate aligned with government priorities. This increase is necessary to ensure the CIB and project proponents have available capital when engaging in investment discussions, particularly those involving large-scale, long-term projects.
- Without an increase, the CIB will be constrained in its ability to support these significant new priorities. The CIB will be forced to slow the pace of new project commitments just as momentum is growing to increase its pace of investment, including in nation building projects referred to the Major Projects Office and projects supported under new infrastructure programs.
- This budget measure does not involve any change to the CIB’s legal mandate or accountability framework. It positions the CIB to invest in any projects referred to the Major Projects Office, ensuring that all available federal tools help advance nation building projects. As the CIB’s portfolio evolves and projects reach repayment or divestment stages, capital can be recycled into new opportunities, allowing it to target total investments beyond its statutory capital envelope.
- The CIB will be able to begin deploying additional capital as soon as the legislative amendments receive Royal Assent. With access to these new funds, it would be positioned to immediately accelerate investment activity across all priority areas.
Build Communities Strong Fund
Issue / question
Details on the Build Communities Strong Fund announced in Budget 2025.
Suggested response
- This government recognizes the need to build – not only major projects, but also the roads, water systems, transit systems, and housing-enabling infrastructure that support growing communities.
- Announced in Budget 2025, the Build Communities Strong Fund will invest $51 billion over 10 years, and $3 billion ongoing, in infrastructure projects across communities to drive economic growth, improve productivity, and enhance resilience.
- The new Fund will align with broader government commitments, such as introducing the Buy Canadian Policy, reducing development charges, and supporting Canadian workers. It will also mobilize private investment, including by leveraging the Canada Infrastructure Bank as a key partner for regional projects.
- The government will work closely with provinces, territories, municipalities and Indigenous partners in the coming weeks and months to ensure that funding for those projects will address our shared priorities.
Background
- Budget 2025 announced a new Build Communities Strong Fund (BCSF) ($51 billion over 10 years, and $3 billion ongoing), for public infrastructure projects that drive economic growth, improve productivity, enhance resilience and strengthen communities.
- BCSF will have three streams:
- Provincial and Territorial Stream ($17.2 billion / 10 years): Supports water/wastewater, transit, roads, post-secondary education infrastructure, and health-related infrastructure ($5 billion carve-out) through bilateral agreements.
- Direct Delivery Stream ($6 billion / 10 years): Supports regionally significant projects, large building retrofits, climate adaptation projects, and community infrastructure.
- Community Stream ($27.8 billion / 10 years): Publicly rebranded Canada Community-Building Fund.
- As part of BCSF, Budget 2025 calls for investment in regionally significant projects, which could be smaller projects that complement ones of national significance that are not well suited for support by the Major Projects Office. These projects would be assessed for their potential suitability to be financed by the Canada Infrastructure Bank.
- BCSF will be coordinated with other initiatives related to trade infrastructure, defense, and projects of national significance and assessments underway by the Major Projects Office. The federal government will also establish governance mechanisms to refer projects to the BCSF, where appropriate.
- Federal project selection will consider factors such as the use of unionized labour, apprenticeships, and Community Employment Benefits agreements.
- In advance of formal negotiations with provinces and territories, the federal government will be reaching out to stakeholders (provinces, territories, municipalities, Indigenous partners) during winter 2026 (exact timing to be confirmed) to engage them on the Fund and understand their concerns and priorities.
- It is expected that project selection under the BCSF will begin early in 2026.
Bill C-15 briefing material for Parliamentarians from HICC
Build Canada Homes
Overview
This measure will establish a statutory appropriation of up to $11.5 billion on a cash basis to fund the operations and activities of Build Canada Homes. It will also provide a contribution of capital of up to $1.515 billion to Canada Lands Company Limited to support housing construction on properties held by the corporation. These funds will be paid out of the Consolidated Revenue Fund.
This measure takes direct action on one of the government’s seven priorities outlined in the Prime Minister’s mandate letter, notably to make “housing more affordable by unleashing the power of public-private cooperation, catalysing a modern housing industry, and creating new careers in the skilled trades”.
The $1.515 billion to Canada Lands Company Limited will support Build Canada Homes’ objectives as it begins to develop sites under Canada Lands Company Limited’s portfolio, deploying a “direct-build” approach, overseeing and leading construction projects focused on affordable mixed-income communities. This first tranche of sites will be in Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg, and Edmonton.
The Government also proposes to introduce legislation establishing the final organisational form of Build Canada Homes.
Questions & Answers
The Government has announced $13 billion to build 4,000 homes. How is this value for money?
The $13 billion announced for Build Canada Homes will support a suite of new investments. Initial investments include:
- Build Canada Homes has dedicated $1.515 billion to develop public land sites under Canada Lands Company’s portfolio, prioritizing innovative, factory-built housing. Build Canada Homes will prioritize six sites to build 4,000 factory-built homes on public land.
- To help protect existing affordable rental housing, the $1.5 billion Canada Rental Protection Fund will be launched under Build Canada Homes. This initiative will support the community housing sector in acquiring at-risk rental apartment buildings, ensuring they remain affordable over the long term.
- Build Canada Homes will deploy $1 billion to build transitional and supportive housing for people who are homeless or at risk of homelessness. It will collaborate with key provincial, territorial, municipal, and Indigenous partners to pair these federal investments with employment and health care supports.
- Build Canada Homes will partner with the Nunavut Housing Corporation to build over 700 public, affordable, and supportive housing units. Approximately 30% of the units are expected to be built off site, using innovative construction methods such as factory-built housing. Together, Build Canada Homes, the Inuit Housing Fund, and Igluvut Corporation represent a new model for scalable, Inuit-led housing delivery, combining innovation, accountability, and community design to build homes that reflect Inuit values and aspirations.
A significant portion of the funding remains available beyond these initial investments to be leveraged by Build Canada Homes to support future projects to increase the supply of affordable housing and catalyze a more productive construction industry, including by deploying flexible financial tools, leveraging public land, and helping builders get big projects off the ground.
The Liberal platform promised $36 billion to support housing. Has the government decided that the housing crisis no longer requires that level of support?
The Government has been clear that the $13 billion over five years is an initial investment. In the new year, Build Canada Homes will evolve into a standalone federal entity reporting to the Minister of Housing and Infrastructure at which point the federal government will re-evaluate Build Canada Homes’ early successes and consider additional long-term funding as necessary.
The initial $13 billion will allow Build Canada Homes to scale up, in advance of its evolution into a standalone federal entity.
Why is the government giving a statutory appropriation and not a voted appropriation to be voted on in Parliament?
Build Canada Homes has a mandate to provide flexible financial incentives and to move quickly. As such, the statutory appropriation allows Build Canada Homes to manage its $13 billion budget with the flexibility that is required to manage multi-year portfolio deals and provide certainty of availability of funds to project proponents, in alignment with Build Canada Homes’ mandate to deliver affordable housing at scale.
This approach is similar to the Canada Infrastructure Bank, which uses its statutory appropriation to make infrastructure investments in a flexible manner.
The provision says that the money will go to “the portion of the federal public administration known as Build Canada Homes or of any other entity designated by the Governor in Council on the recommendation of the Minister of Housing.” What is the point of this provision and who else is this money going to?
Budget 2025 proposes to introduce legislation establishing the final organisational form of Build Canada Homes.
This provision allows for flexibility to change the legal status of Build Canada Homes, in anticipation of Build Canada Homes’ evolution into a standalone federal entity.
If the funding is for Build Canada Homes, why is $1.515 billion going directly to Canada Lands Company Limited?
As the Prime Minister outlined in the September 2025 announcement of Build Canada Homes, Canada Lands Company will be transferred under the Build Canada Homes portfolio to streamline construction on public lands.
In the meantime, the $1.515 billion announced for Canada Lands Company Limited allows the government to start building homes on public land as quickly as possible. This funding will support the direct construction of 4,000 new homes that will remain publicly owned over the long term.
Build Canada Homes will develop parcels at six Canada Lands Company sites in Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg, and Edmonton. These sites will prioritize innovative, modern methods of construction to build up to 4,000 homes, quickly, affordably, and sustainably.
How does Build Canada Homes align with the Government’s key priorities?
Build Canada Homes directly supports one of the government’s seven mandate commitments: to make housing more affordable by unleashing the power of public-private cooperation, catalysing a modern housing industry, and creating new careers in the skilled trades.
Build Canada Homes will lead the development of affordable housing at scale by leveraging public land, deploying flexible financial tools, and catalyzing a more productive and innovative homebuilding industry.
Build Canada Homes will partner across the housing ecosystem to drive the development of affordable housing options that serve a large segment of the working population, as well as students and seniors living on fixed income that are priced out of the market. Build Canada Homes will also act as a developer, building on public land, or working with other partners to develop underutilized public land.
As it conducts these activities, Build Canada Homes will help transform Canada’s housing industry by generating demand for new and innovative methods of construction that reduce build time, cost per unit, or amount of resources (materials/workers) needed to get more homes built faster.
How many housing units will Build Canada Homes build?
The vastness of the housing crisis in Canada requires innovative leadership and investment. In addition to the 4,700 units already committed as part of its initial investments, Build Canada Homes will deploy innovative financial solutions, access to public land, and the time and cost saving power of modern methods of construction to deliver as much affordable housing as possible within its existing envelope.
How does this align with the new Buy Canadian policy?
Build Canada Homes will adopt the government’s new Buy Canadian policy launched in November 2025 and prioritise projects that use Canadian materials, as outlined in the policy.
What is the final organisational form of Build Canada Homes and when will the Government introduce legislation establishing Build Canada Homes?
The Government will introduce legislation establishing the Build Canada Homes as a standalone federal entity shortly.
As the Government prepares and introduces legislation to establish Build Canada Homes (BCH), the BCH Special Operating Agency within Housing, Infrastructure and Communities Canada will continue to advance early investments and deliver results for Canadians.
Key Messages
- Canada is facing a steep housing supply gap that threatens affordability, economic opportunity, and the ability for Canadians to build a life and a future here at home. Restoring housing affordability is one of the government’s key priorities.
- That’s why the government has launched Build Canada Homes — a new federal agency with the mandate to scale up the supply of affordable housing across Canada.
- As part of a national effort to double housing construction, restore affordability, and reduce homelessness, Build Canada Homes will deploy modern methods of construction, leverage public lands, offer flexible financial tools, attract private capital, and support manufacturers to deliver the homes that Canadians need – using Canadian technology, Canadian workers, and Canadian-sourced materials in the process.
- Build Canada Homes will partner with the non-profit and co-operative housing sector, private developers, Indigenous organizations and all levels of government on mixed - income housing developments that combine affordable rental with market units. This approach will help unlock new sources of private capital, create more housing supply, and ensure housing remains financially viable and affordable over the long term.
- In Budget 2025, Build Canada Homes received $13 billion over five years, starting in 2025-26, to quickly enable financing, provide land, and help builders get big projects off the ground.
- Among its already-announced first investments and initiatives, Build Canada Homes will partner with the Nunavut Housing Corporation to build over 700 public, affordable and supportive housing units, begin developing 4,000 factory built homes on six public land sites under Canada Lands Company’s portfolio, deploy $1 billion to build transitional and supportive housing for people who are homeless or at risk of homelessness, and launch the $1.5 billion Canada Rental Protection Fund to acquire at-risk rental apartment buildings.
Clause-By-Clause
Clause 200
This clause allows the Minister of Housing, with the concurrence of the Minister of Finance, to make payments not exceeding $11.5 billion to fund the operations and activities of Build Canada Homes.
Clause 201
This clause allows the Minister of Housing to make payments not exceeding $1.515 billion to Canada Lands Company Limited to fund the development of housing on properties under the Canada Lands Company Limited portfolio.
Canada Infrastructure Bank (CIB) Capitalization Increase
Overview
Budget 2025 announced the government’s intention to increase the CIB’s statutory capital envelope from $35 billion to $45 billion.
This increase would allow the CIB to accelerate investment in high-impact infrastructure projects aligned with national priorities. It would also enable the CIB to unlock significantly more private investment in infrastructure, support the delivery of projects of national interest designated under the Build Canada Act referred to the Major Projects Office, and directly advance priorities such as housing acceleration, trade and transportation infrastructure and infrastructure for Northern and Indigenous communities, while continuing to invest in its priority sectors.
By maintaining fiscal discipline—investing rather than spending, and by crowding in private capital—the CIB stretches public dollars further using financing that is repaid over time and reinvested into future projects. The capital increase would allow the CIB to scale up its annual project investments from approximately $3.5 billion to $5 billion.
This measure acts on the government’s priorities outlined in its Mandate Letter, Speech from the Throne and Budget commitments to build a stronger, more competitive, and more prosperous Canadian economy by building more with less.
The proposed statutory increase in capitalization would require legislative amendments to the Canada Infrastructure Bank Act through the Budget Implementation Act and would come into force upon it receiving Royal Assent.
Questions & Answers
Is the $10 billion in additional capital specifically for projects of national interest?
The additional capital would allow the CIB to invest in large national interest projects and in projects across its priority sectors. The CIB is expected to prioritize projects of national interest referred to the Major Projects Office.
When would the CIB be able to start investing the $10 billion in additional capital?
The CIB will be able to begin deploying additional capital as soon as the legislative amendments receive Royal Assent. With access to these new funds, it would be positioned to immediately accelerate investment activity across all priority areas.
Key Messages
- Budget 2025 proposes to increase the Canada Infrastructure Bank (CIB)’s statutory capital envelope from $35 to $45 billion.
- The increase in available capital will enable the CIB to continue to make investments in core infrastructure while also investing in nation-building projects.
- The increased funding will support the Major Projects Office for which the Canada Infrastructure Bank will play a key role in helping to unlock the financing needed to build large infrastructure projects across the country.
- This will encourage more private sector investments into major national infrastructure projects.
Clause-By-Clause
Clause 202
This clause increases the total amount of capital the Bank can access by $10 billion (from $35 billion to $45 billion) to invest in high-impact infrastructure projects aligned with government priorities.
Build Canada Homes
Issue / question
What is Build Canada Homes?
Suggested response
- The Government of Canada is stepping up with a bold approach to increase Canada’s housing supply and has launched Build Canada Homes (BCH)—a new federal agency that builds affordable housing at scale.
- The measures proposed in the Budget Implementation Act will provide the legislative authority to operationalize BCH and ensure it has the resources needed to deliver results.
- With an initial capital investment of $13 billion, BCH brings together financing and partnerships to streamline development timelines, leverage public lands, and reduce barriers to building affordable homes. The agency will harness public-private collaboration and deploy modern methods of construction to catalyze the creation of a more productive Canadian housing industry.
- Since its launch in September 2025, BCH has already delivered measurable results by signing landmark agreements with provinces and municipalities, advancing six federal land projects toward construction, and committing to thousands of affordable homes, with more to come.
Background
- Build Canada Homes is a new federal agency with the mandate to scale up the supply of affordable housing across Canada. It has three primary functions: build affordable housing, finance affordable homebuilding, and catalyze a more productive housing industry.
- What makes Build Canada Homes different is how it works:
- Combining flexible financing, access to land, and development expertise under one roof to make it simpler and faster to get big projects off the ground;
- Unlocking multi-year pipelines of projects through the portfolio approach;
- Leveraging modern methods of construction to reduce build times and costs (e.g., factory-built housing); and
- Building on public lands to deliver more affordable homes faster.
- On November 23, 2025, Build Canada Homes released its Investment Policy Framework which sets out how Build Canada Homes will deploy public capital strategically, attract private and philanthropic investment, and support innovative building methods to deliver more homes, faster.
- As of November 27, 2025, Build Canada Homes is accepting proposals on an ongoing basis to partner on projects that increase the supply for affordable housing in Canada.
- Among its already-announced investments, Build Canada Homes has committed to:
- Partner with the Nunavut Housing Corporation and Nunavut Tunngavik Inc. to build over 700 public, affordable and supportive housing units;
- Deploy $1 billion to build transitional and supportive housing for people who are homeless or at risk of homelessness;
- Launch the $1.5 billion Canada Rental Protection Fund to acquire at-risk rental apartment buildings;
- Build up to 4,000 Direct Build units on federal lands in Ottawa, Winnipeg, Edmonton, Longueuil, Dartmouth and Toronto; and
- Partner with the City of Ottawa to fast track the delivery of up to 3,000 new homes, and Nova Scotia to unlock 1,430 homes across the province.
- Budget 2025 proposes an initial investment of $13 billion over five years for Build Canada Homes, starting in 2025-26.
- This measure in the Budget Implementation Act will establish a statutory appropriation of up to $11.5 billion on a cash basis to fund the operations and activities of Build Canada Homes.
- It will also provide a capital contribution of up to $1.515 billion to Canada Lands Company Limited (CLCL) to support housing construction on CLCL properties.
- These funds will be paid out of the Consolidated Revenue Fund.
- The $1.515 billion to CLCL will support Build Canada Homes’ objectives as it begins to develop sites under CLCL’s portfolio, deploying a Direct Build approach, overseeing and leading construction projects focused on affordable mixed-income communities. This first tranche of sites will be in Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg, and Edmonton.
Budget 2025 & Budget Implementation Act
Relationship between Housing, Infrastructure and Communities Canada, Build Canada Homes and the Canada Mortgage and Housing Corporation
Issue / question
How is the Government of Canada coordinating its efforts across departments and agencies to address the housing crisis and increase affordable housing supply?
Suggested response
- This government is taking coordinated action to address the housing crisis.
- Housing, Infrastructure and Communities Canada is the federal lead for housing and homelessness policy and program development, ensuring alignment across all programs and portfolio partners.
- Build Canada Homes is Canada’s new federal agency that will build and finance affordable housing at scale, while catalyzing a more productive homebuilding industry by generating demand for new and innovative building methods.
- In parallel, Canada Mortgage and Housing Corporation will continue to contribute to the well-being of Canada’s housing system through existing programs such as the Apartment Construction Loan Program and mortgage loan insurance products.
Background
- Housing, Infrastructure and Communities Canada (HICC) is the federal lead for housing and homelessness policy and program development, ensuring alignment across programs and portfolio partners.
- On September 14, 2025, Build Canada Homes launched as a Special Operating Agency within HICC. Build Canada Homes is Canada’s new federal agency that will build and finance affordable housing at scale, while catalyzing a more productive homebuilding industry.
- Canada Mortgage and Housing Corporation (CMHC) will continue to deliver on its mandate to contribute to the well-being of Canada’s housing system through existing initiatives such as the Apartment Construction Loan Program and mortgage loan insurance products.
- CMHC will also continue delivering its existing affordable housing programs, such as the Affordable Housing Fund (AHF), until current funding envelopes are fully allocated.
- Proponents with existing AHF projects or recently submitted proposals will continue to work with their contact at CMHC as Build Canada Homes ramps up. Both organizations will work closely to ensure that all proposals to increase the supply of affordable housing are considered.
- In combination with the recent $1.5 billion top-up to the AHF, this will ensure ongoing funding for new affordable housing during the transition to Build Canada Homes.
- Finally, CMHC will continue to support Canada’s market housing sector by providing valuable market insights and industry research.
- Ministerial responsibility for Canada Lands Company has been transferred to the Minister of Housing and Infrastructure.
- This move enables Build Canada Homes to leverage Canada Lands Company’s land holdings, real estate development expertise, and strong relationships with municipalities, builders, not-for-profits, and Indigenous communities to accelerate the delivery of affordable housing across the country.
- Build Canada Homes will have access to the federal government’s land portfolio, including 88 federal properties suitable for housing listed on the Canada Public Land Bank.
CEO Remuneration
Issue / question
What is the compensation package for the Chief Executive Officer of Build Canada Homes?
Suggested response
- The Chief Executive Officer (CEO) of the new Build Canada Homes (BCH) agency is a Governor in Council (GIC) appointee, remunerated in accordance with salary ranges and performance pay standards for GIC appointees. The CEO position is also subject to the terms and conditions of employment for full-time GIC appointees.
- The salary range published with the appointment Order in Council for Ana Bailão, the first CEO of BCH, effective September 29, 2025, is $398,800 - $469,100, to hold office for a term of five years.
- Specific remuneration for individual appointees is subject to the Privacy Act and the Access to Information Act and protected under federal legislation.
Background
- Ana Bailão is a leader in housing policy and public affairs, with extensive experience in municipal government and in advancing affordable and sustainable development.
- Ms. Bailão was the Head of Affordable Housing and Public Affairs for Dream Unlimited Corp. At Dream, she was responsible for advancing Dream's affordable housing strategy and development, strengthening partnerships with government and community stakeholders, and ensuring that development projects integrate long-term affordability and sustainability.
- From 2010 to 2022, she served on Toronto City Council, including five years as Deputy Mayor. As Chair of the Planning and Housing Committee and during her time on the board of Toronto Community Housing, she led initiatives to expand affordable housing, reform zoning, and launch programs like Housing Now and CreateTO.
- Before entering public office, she held senior roles in the financial and technology sectors. She has served on numerous boards, including the Federation of Canadian Municipalities, Artscape, Toronto Public Library, and Toronto Arts Council.
Buy Canadian
Issue / question
What is the Government of Canada doing to ensure that its investments in housing and infrastructure are supporting Canadian businesses?
Suggested response
- The Government of Canada’s Buy Canadian Policy for federal procurement was announced and came into effect on December 16, 2025. Like other departments, Housing, Infrastructure, and Communities Canada will be implementing the Buy Canadian policy in respect of its grants and contributions funding.
- The Policy is comprehensive, covering not only direct purchasing, but the breadth of federal investments and is being applied by departments, agencies, and Crown corporations.
- Through the Policy, Housing, Infrastructure and Communities Canada, Build Canada Homes and the Canada Infrastructure Bank will maximize the impact of federal investments, strengthen Canada's economic competitiveness, create good jobs for Canadian workers, and deliver lasting prosperity for businesses across the country.
- Leveraging major spending initiatives, including Build Canada Homes and the new Build Communities Strong Fund, will be our contributions to building big and bold projects using Canadian suppliers and manufacturers.
Background
- Global supply chain disruptions and shifting markets are redefining how countries grow their economies. In response, the Government of Canada is developing a comprehensive industrial strategy to strengthen domestic capabilities, build Canadian expertise, and help industries pivot to new markets and opportunities.
- On September 5, 2025, the Government of Canada announced a series of measures, including a comprehensive Buy Canadian Policy, to protect the Canadian economy and support Canadian workers and businesses, making Canada more resilient to changes in global trade.
- Budget 2025 reinforced the federal government’s commitment to a comprehensive Buy Canadian Policy, moving from best efforts to a clear obligation to buy Canadian. Work to develop these measures remains ongoing and will be phased in. The main sector focus is on steel, aluminum, and wood products.
- On December 16, 2025, the Government of Canada announced and put in force its Buy Canadian Procurement Policy Framework for federal procurements. It introduced requirements to prioritize Canadian content, suppliers, and materials, and reiterated commitments to support reciprocal procurement and support small- and medium-sized businesses. Departments and agencies, as well as Crown corporations, are responsible for applying these new requirements, as articulated through the policy instruments, for federal procurement. Buy Canadian measures will also be applied to grants and contributions programs.
- Housing, Infrastructure and Communities Canada is collaborating with other federal departments and undertaking engagement to inform an implementation approach for grants and contributions and federal funding for housing and infrastructure. The objectives of Buy Canadian also extend to the activities of its portfolio Crown corporations: Canada Infrastructure Bank, The Jacques Cartier and Champlain Bridges Incorporated, Windsor-Detroit Bridge Authority and Canada Lands Company Limited.
Housing Data
Questions and answers on data related to housing starts, permits, home prices, average rents and construction jobs
Residential Construction Indicators
A) Number of homes built in 2025
- In 2025, 258,026 dwellings were completed in Canada. Completions represent actual, physical additions to the housing stock that people can occupy.
- 44% of housing completions were intended for the rental market, 31% for homeowners and 25% were condominiums.
| Single | Semi-Detached | Townhouse | Apartment | All |
|---|---|---|---|---|
| 56,166 | 12,310 | 26,672 | 162,878 | 258,026 |
Source: Canada Mortgage Housing Corporation. Housing Market Information Portal. Last Updated: January 16, 2026.
This dataset includes Census Metropolitan Areas, Census Agglomerations (CA), and other, selected municipalities with at least 10,000 people. Formally, a “completion” is defined as the stage at which all proposed construction work on the building has been performed, although under some circumstances a building may be counted as completed where up to 10% of the proposed work remains to be done.
As part of the Modernizing Housing Data Initiative, CMHC expanded the scope of completion data to covers CAs and other urban populations over 10,000 starting Q3 2025. 12-month provincial breakdowns and year-over-year comparisons will be possible in late 2026.
| Intended use | Single | Semi-Detached | Townhouse | Apartment | All | % of completions |
|---|---|---|---|---|---|---|
| Homeowner | 54,047 | 11,412 | 14,312 | 261 | 80,032 | 31% |
| Rental | 1,733 | 430 | 4,573 | 107,720 | 114,456 | 44% |
| Condo | 386 | 468 | 7,787 | 54,678 | 63,319 | 25% |
| Co-op | 0 | 0 | 0 | 219 | 219 | 0.1% |
Source: Canada Mortgage Housing Corporation. Housing Market Information Portal. Last Updated: January 16, 2026 [updated annually].
B) Housing starts in Canada (broken down by PT)
- The six-month trend in housing starts was flat (-0.1%) in December (264,428 units), according to CMHC. The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
- The total monthly SAAR of housing starts for all areas in Canada was up 11% in December (282,439 units) compared to November (254,625 units).
- In 2025, actual housing starts in Canada increased 6% year-over-year. At a regional level, actual housing starts declined year-over-year in Ontario (-13%) and British Columbia (-5%), while increasing in the majority of other provinces and territories, notably in Yukon (80%), Saskatchewan (+42%), Quebec (+32%) and Nova Scotia (+31%).
- In December 2025, actual housing starts increased 25% year-over-year in centres with a population of 10,000 or greater, with 20,716 units. This marks the most actual housing starts for December on record, primarily driven by increases in Ontario, which had its highest monthly starts total of 2025.
| Province/Territory | 2024 YTD (January to December) |
2025 YTD (January to December) |
% Change |
|---|---|---|---|
| NL | 1,014 | 1,131 | 12% |
| PE | 1,334 | 1,276 | -4% |
| NS | 6,663 | 8,732 | 31% |
| NB | 4,987 | 5,717 | 15% |
| QC | 41,221 | 54,220 | 32% |
| ON | 72,118 | 62,561 | -13% |
| MB | 6,164 | 7,139 | 16% |
| SK | 3,991 | 5,679 | 42% |
| AB | 46,632 | 53,184 | 14% |
| BC | 43,573 | 41,532 | -5% |
| YK | 167 | 300 | 80% |
| NT | 107 | 81 | -24% |
| Canada | 227,971 | 241,552 | 6% |
Note: Actual housing starts are collected from census metropolitan areas, census agglomerations and other, selected municipalities with at least 10,000 people. The size and timing of large-scale projects (e.g., high-rise condo and rental structures) can cause major fluctuations in monthly data.
Source: Source: Canada Mortgage Housing Corporation. Housing Market Information Portal. Last Updated: January 16, 2026, [updated monthly].
| Province | December 2024 | December 2025 | % Change |
|---|---|---|---|
| NL | 94 | 100 | 6% |
| PE | 108 | 94 | -13% |
| NS | 459 | 880 | 92% |
| NB | 399 | 347 | -13% |
| QC | 2,641 | 3,975 | 51% |
| ON | 4,945 | 7,547 | 53% |
| MB | 392 | 281 | -28% |
| SK | 265 | 431 | 63% |
| AB | 3,485 | 3,256 | -7% |
| BC | 3,743 | 3,805 | 2% |
| Canada | 16,531 | 20,716 | 25% |
Source: Canada Mortgage Housing Corporation. Housing Market Information Portal. Last Updated: January 16, 2026, [updated monthly].
C) Seasonally adjusted count of residential building permits issued across Canada, 2025 (breakdown by months and building type)
- Between January and November 2025, approved residential building permits were issued for 281,563 dwelling units across Canada.
- Comparatively, 289,575 dwelling units were approved in 2024, and 262,986 units in 2023.
- Permits, which provide an early signal of upcoming housing construction, are slowing, indicating a potential slowdown. As of November 2025, permits are 3.4% above last year.
- Building permits can be abandoned, so they do not always lead to housing starts. As such they do not necessarily accurately reflect how many units will be started and completed in future years.
| Type of building | Jan 2025 | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 | Jun 2025 | Jul 2025 | Aug 2025 | Sep 2025 | Oct 2025 | Nov 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total residential | 29,101 | 26,082 | 27,304 | 25,183 | 24,870 | 23,884 | 24,312 | 23,830 | 24,725 | 27,718 | 24,554 |
Source: Statistics Canada. Table 34-10-0292-01 Building permits, by type of structure and type of work (x 1,000). Last Updated: January 13, 2026 [updated monthly]. These numbers seasonally adjusted.
The Survey targets all Canadian municipalities that issue permits. Approximately 2,400 Canadian municipalities, representing all provinces and territories and encompassing 95% of the Canadian population, are covered by the survey.
D) Construction jobs
- In October 2025, employment in residential construction across Canada was 174,403 persons, which was relatively stable year-over-year.
| Province | October 2024 | October 2025 | % Change |
|---|---|---|---|
| NL | 2,270 | 2,284 | 1% |
| PE | 1,218 | 1,158 | -5% |
| NS | 4,683 | 4,900 | 5% |
| NB | 3,794 | 3,933 | 4% |
| QC | 42,452 | 44,039 | 4% |
| ON | 60,850 | 56,707 | -7% |
| MB | 5,676 | 6,138 | 8% |
| SK | 3,680 | 3,971 | 8% |
| AB | 19,081 | 20,109 | 5% |
| BC | 31,382 | 30,249 | -4% |
| YK | 443 | x | N/A |
| NT | 230 | 217 | -6% |
| NU | 147 | x | N/A |
| Canada | 175,906 | 174,403 | -1% |
Source: Statistics Canada. Table 14-10-0201-01 Employment by industry, monthly, unadjusted for seasonality. Last Updated: December 18, 2025 with October data [updated monthly].
x - Suppressed to meet the confidentiality requirements of the Statistics Act.
Measures of Affordability
E) Average price of a home in Canada (and price breakdown by PT and major cities)
- In December 2025, the seasonally adjusted composite benchmark home price in Canada was $673,400 according to the Canadian Real Estate Association’s MLS Home Price Index (HPI).
- The HPI dipped 0.3% month-over-month and was down 4% on a year-over-year basis.
- The HPI benchmark price has declined 19% since the peak in February 2022 ($827,300). However, it remains 25% above the March 2020 composite ($535,200).
| Province | Composite | Single | Townhouse | Apartment |
|---|---|---|---|---|
| NL | $336,100 | $339,400 | $309,900 | $252,700 |
| PE * | $375,300 | $375,300 | N/A | N/A |
| NS | $426,000 | $422,800 | $530,200 | $416,000 |
| NB | $337,200 | $338,500 | $242,900 | $288,500 |
| QC | $539,700 | $611,600 | $576,400 | $410,400 |
| ON | $764,400 | $848,500 | $605,900 | $512,700 |
| MB ** | $392,700 | $415,000 | $343,600 | $231,800 |
| SK | $369,200 | $399,200 | $324,400 | $241,600 |
| AB | $509,400 | $607,800 | $392,800 | $277,900 |
| BC | $913,800 | $1,197,100 | $811,400 | $621,500 |
| Canada | $673,400 | $748,900 | $612,100 | $477,500 |
Source: Canadian Real Estate Association’s Home Prince Index. Last Updated: January 15, 2026, [updated monthly].
* The HPI does not publish sales data on townhouses or apartments in Prince Edwards Island.
** Provincial data for Manitoba is unavailable. HPI data for Winnipeg is used as a substitute as approximately 62% of Manitoba’s population resides within the Winnipeg CMA.
| City | Composite | Single | Townhouse | Apartment |
|---|---|---|---|---|
| St. John’s | $396,000 | $414,800 | $304,000 | $251,800 |
| Halifax / Dartmouth | $559,700 | $579,700 | $539,200 | $416,000 |
| Moncton | $386,500 | $388,300 | $242,900 | $339,200 |
| Québec | $442,100 | $507,300 | $408,300 | $298,600 |
| Montréal | $585,000 | $693,900 | $604,100 | $432,200 |
| Ottawa | $631,600 | $718,800 | $558,600 | $395,900 |
| Greater Toronto | $962,300 | $1,174,800 | $701,700 | $563,100 |
| Kitchener / Waterloo | $653,800 | $772,100 | $535,200 | $392,000 |
| Winnipeg | $392,700 | $415,000 | $343,600 | $231,800 |
| Saskatoon | $430,600 | $500,000 | $354,600 | $257,600 |
| Regina | $339,700 | $367,100 | $262,800 | $211,600 |
| Edmonton | $418,500 | $502,200 | $275,100 | $201,600 |
| Calgary | $565,100 | $678,700 | $455,400 | $318,000 |
| Greater Vancouver | $1,138,200 | $1,928,000 | $1,077,200 | $725,500 |
| Victoria | $878,800 | $1,152,400 | $789,600 | $555,200 |
Source: Canadian Real Estate Association’s Home Prince Index. Last Updated: January 15, 2026, [updated monthly].
ERRATA
In the Housing Data note, typographical errors have been corrected in the Measures of Affordability section, Subsection F: Average rents in Canada as follows:
- The source footnote of the table titled Year-over-year comparison of 2-bedroom asking rents, largest CMAs, “Statistics Canada. Table 146-10-0092-01” should read “Statistics Canada. Table 46-10-0092-01”.
And
- The source footnote of the table titled Asking rents by dwelling type, by select census metropolitan areas, Q3 2025, “*The Q3 2023 asking rent for a room in Calgary was too unreliable to be published.” should read “*The Q3 2025 asking rent for a room in Calgary was too unreliable to be published.”
These errors have been corrected in the English HTML version of the Housing Data note.
F) Average rents in Canada
- Asking rents of available rental units started to decrease in Toronto and Vancouver in 2024, and in several medium regional markets in 2025. Despite declines, rents are considerably higher than 2019, particularly in medium and smaller markets.
| CMA | Q3 2019 | Q3 2023 | Q3 2024 | Q3 2025 | % change (2019 to 2023) |
% change (2019 to 2025) |
|---|---|---|---|---|---|---|
| Halifax | $1,410 | $2,300 | $2,390 | $2,310 | 63% | 64% |
| Québec | $870 | $1,360 | $1,570 | $1,520 | 56% | 75% |
| Montréal | $1,310 | $1,880 | $1,950 | $1,930 | 44% | 47% |
| Ottawa | $1,800 | $2,200 | $2,440 | $2,400 | 22% | 33% |
| Toronto | $2,480 | $2,920 | $2,830 | $2,720 | 18% | 10% |
| Winnipeg | $1,270 | $1,430 | $1,570 | $1,640 | 13% | 29% |
| Calgary | $1,370 | $2,010 | $2,050 | $2,010 | 47% | 47% |
| Edmonton | $1,290 | $1,510 | $1,620 | $1,640 | 17% | 27% |
| Vancouver | $2,500 | $3,580 | $3,390 | $3,190 | 43% | 28% |
Source: Statistics Canada. Table 46-10-0092-01 | Last Updated: December 12, 2025 [updated quarterly]. Data collected by Statistics Canada from listings on major rental platforms.
Note: Bolded values indicate highest rents for each CMA for data from 2019 to 2025. Data is presented for the eight largest CMAs and Halifax.
- Housing affordability decreased for the median renter household in cities across Canada between 2019 and 2023, as asking rents increased at a higher rate than before-tax income. Regionally, in more affordable home ownership markets (e.g., Alberta) a decline in average renter household income occurred between 2019 and 2023.
| CMA | Real median household before-tax income for renter households | % change | Shelter-cost-to-income ratio based on 2-bedroom asking rent and real median household before tax-income for renters | ||
|---|---|---|---|---|---|
| 2019 | 2023 | 2019 to 2023 | 2019 | 2023 | |
| Halifax | $57,600 | $64,200 | 11% | 29% | 43% |
| Québec | $47,400 | $53,700 | 13% | 22% | 30% |
| Montréal | $51,300 | $61,400 | 20% | 31% | 37% |
| Ottawa | $74,800 | $75,500 | 1% | 29% | 35% |
| Toronto | $64,000 | $76,300 | 19% | 47% | 46% |
| Winnipeg | $51,900 | $53,200 | 3% | 29% | 32% |
| Calgary | $85,000 | $74,800 | -12% | 19% | 32% |
| Edmonton | $77,000 | $64,500 | -16% | 20% | 28% |
| Vancouver | $73,200 | $75,600 | 3% | 41% | 57% |
Source: Canadian Income Survey, Statistics Canada.| Last Updated: May 2025 (with 2023 data) [updated every 2 years].
Note: The latest income data available is as of 2023 (posted in May 2025), while the latest asking rent data is as of 2025. Data is presented for the eight largest CMAs and Halifax. Bolded numbers indicate where the shelter-to-income ratio (STIR) exceeds the standard 30% threshold.
| CMA | Single Room | 1-bedroom | 2-bedroom |
|---|---|---|---|
| St. John’s | $700 | $1,270 | $1,450 |
| Halifax | $880 | $1,840 | $2,310 |
| Moncton | $670 | $1,300 | $1,530 |
| Québec | $570 | $1,240 | $1,520 |
| Montréal | $720 | $1,550 | $1,930 |
| Gatineau | $730 | $1,460 | $1,730 |
| Ottawa | $850 | $1,920 | $2,400 |
| Toronto | $850 | $2,160 | $2,720 |
| Winnipeg | $600 | $1,280 | $1,640 |
| Regina | $630 | $1,240 | $1,470 |
| Saskatoon | $680 | $1,330 | $1,600 |
| Calgary * | N/A | $1,630 | $2,010 |
| Edmonton | $670 | $1,320 | $1,640 |
| Vancouver | $1,070 | $2,390 | $3,190 |
| Victoria | $960 | $2,120 | $2,720 |
Source: Statistics Canada. Table 46-10-0092-01 Asking rent prices, by rental unit type and number of bedrooms, experimental estimates. Last Updated: December 2, 2025 [updated quarterly].
*The Q3 2025 asking rent for a room in Calgary was too unreliable to be published.
G) Average mortgage payments (breakdown by Census Metropolitan Area)
- Q3 2025 data shows the average monthly mortgage payment increased by 2-3% year-over-year in most Census Metropolitan Areas (CMAs), while monthly home equity line of credit (HELOC) payments decreased by 10% on average.
- In 2025, the Financial Consumer Agency of Canada reported that 54% of homeowners have a mortgage, 35% have a home equity line of credit (HELOC) and 17% have an advanceable mortgage (e.g., combines a traditional mortgage with HELOC).
- 21% of homeowners report having both a mortgage and HELOC, while 13% of homeowners report having a HELOC but no mortgage.
| Geography | Q3 2024 Mortgage | Q3 2025 Mortgage | % Change | Q3 2024 HELOC | Q3 2025 HELOC | % Change |
|---|---|---|---|---|---|---|
| Canada | $1,770 | $1,812 | 2% | $974 | $880 | -10% |
| Large CMAs | $2,076 | $2,122 | 2% | $1,130 | $1,023 | -9% |
| Medium CMAs | $1,618 | $1,660 | 3% | $807 | $725 | -10% |
| Small CMAs | $1,618 | $1,660 | 3% | $807 | $725 | -10% |
Source: Equifax with calculations from Canada Mortgage and Housing Corporation. Average Monthly Scheduled Payment by Credit Product, Canada and CMAs. Last Updated: December 31, 2025 [updated quarterly].
| CMA | Q3 2024 Mortgage | Q3 2025 Mortgage | % Change | Q3 2024 HELOC | Q3 2025 HELOC | % Change |
|---|---|---|---|---|---|---|
| Montréal | $1,491 | $1,543 | 3% | $1,152 | $1,045 | -9% |
| Ottawa-Gatineau | $1,634 | $1,679 | 3% | $775 | $731 | -6% |
| Toronto | $2,499 | $2,549 | 2% | $1,149 | $1,064 | -7% |
| Calgary | $1,806 | $1,853 | 3% | $960 | $781 | -19% |
| Edmonton | $1,630 | $1,666 | 2% | $929 | $749 | -19% |
| Vancouver | $2,619 | $2,680 | 2% | $1,422 | $1,292 | -9% |
Source: Equifax with calculations from Canada Mortgage and Housing Corporation. Average Monthly Scheduled Payment by Credit Product, Canada and CMAs. Last Updated: December 31, 2025 [updated quarterly].
| CMA | Q3 2024 Mortgage | Q3 2025 Mortgage | % Change | Q3 2024 HELOC | Q3 2025 HELOC | % Change |
|---|---|---|---|---|---|---|
| Halifax | $1,442 | $1,497 | 4% | $677 | $628 | -7% |
| Québec City | $1,085 | $1,116 | 3% | $975 | $895 | -8% |
| Oshawa | $2,164 | $2,214 | 2% | $721 | $650 | -10% |
| Hamilton | $2,058 | $2,109 | 2% | $837 | $770 | -8% |
| St. Catharines-Niagara | $1,596 | $1,649 | 3% | $701 | $573 | -18% |
| Kitchener-Cambridge-Waterloo | $1,956 | $2,010 | 3% | $792 | $721 | -9% |
| London | $1,648 | $1,688 | 2% | $704 | $639 | -9% |
| Windsor | $1,419 | $1,449 | 2% | $743 | $721 | -3% |
| Winnipeg | $1,318 | $1,349 | 2% | $760 | $642 | -16% |
| Regina | $1,489 | $1,593 | 7% | $901 | $752 | -17% |
| Saskatoon | $1,467 | $1,495 | 2% | $821 | $707 | -14% |
| Victoria | $2,191 | $2,259 | 3% | $1,022 | $900 | -12% |
Source: Equifax with calculations from Canada Mortgage and Housing Corporation. Average Monthly Scheduled Payment by Credit Product, Canada and CMAs. Last Updated: December 31, 2025 [updated quarterly].
| CMA | Q3 2024 Mortgage | Q3 2025 Mortgage | % Change | Q3 2024 HELOC | Q3 2025 HELOC | % Change |
|---|---|---|---|---|---|---|
| St. John's | $1,389 | $1,412 | 2% | $695 | $556 | -20% |
| Charlottetown | $1,282 | $1,325 | 3% | $755 | $772 | -2% |
| Moncton | $1,124 | $1,166 | 4% | $766 | $631 | -18% |
| Saint John | $1,095 | $1,127 | 3% | $715 | $588 | -18% |
| Saguenay | $873 | $896 | 3% | $815 | $770 | -6% |
| Sherbrooke | $1,066 | $1,108 | 4% | $970 | $899 | -7% |
| Trois-Rivières | $864 | $896 | 4% | $767 | $726 | -5% |
| Kingston | $1,600 | $1,636 | 2% | $678 | $550 | -19% |
| Peterborough | $1,635 | $1,699 | 4% | $703 | $629 | -11% |
| Brantford | $1,725 | $1,778 | 3% | $692 | $674 | -3% |
| Guelph | $1,942 | $2,008 | 3% | $728 | $667 | -8% |
| Barrie | $1,974 | $2,018 | 2% | $866 | $764 | -12% |
| Greater Sudbury | $1,429 | $1,478 | 3% | $719 | $567 | -21% |
| Thunder Bay | $1,314 | $1,351 | 3% | $677 | $645 | -5% |
| Kelowna | $2,046 | $2,091 | 2% | $874 | $758 | -13% |
| Abbotsford-Mission | $2,316 | $2,353 | 2% | $869 | $793 | -9% |
| Other Cities | $1,494 | $1,543 | 3% | $847 | $769 | -9% |
Source: Equifax with calculations from Canada Mortgage and Housing Corporation. Average Monthly Scheduled Payment by Credit Product, Canada and CMAs. Last Updated: December 31, 2025 [updated quarterly].
Results of the National Housing Strategy
H) National Housing Strategy (NHS) project funding (2025, by PT and major cities)
- The Government of Canada made significant investments in housing across Canada in the first three quarters of 2025. Over $6.4 billion was committed through the National Housing Strategy supply programs.
| Province/Territory | Contribution | Loan | Total |
|---|---|---|---|
| NL | $4,137,000 | $9,946,295 | $14,083,295 |
| PE | $14,207,124 | $41,915,925 | $56,123,049 |
| NS | $38,558,074 | $92,922,408 | $131,480,482 |
| NB | $4,197,568 | $129,771,681 | $133,969,249 |
| QC | $112,270,202 | $783,862,961 | $896,133,163 |
| ON | $338,474,448 | $2,768,768,339 | $3,107,242,787 |
| MB | $27,216,822 | $4,657,254 | $31,874,076 |
| SK | $16,521,252 | $2,059,251 | $18,580,503 |
| AB | $48,738,823 | $343,126,760 | $391,865,583 |
| BC | $201,929,403 | $1,476,915,609 | $1,678,845,012 |
| YK | $0 | $0 | $0 |
| NT | $2,250,000 | $0 | $2,250,000 |
| NU | $7,500,000 | $579,885 | $8,079,885 |
| Canada | $816,000,715 | $5,654,526,368 | $6,470,527,083 |
Source: Canada Mortgage Housing Corporation. Last Updated: December 4, 2025, [updated quarterly].
Notes: Amounts above the funding that has been financially committed representing agreements signed between January 1, 2025 and September 30, 2025. Funding amounts above may come out from this year’s budget or future years’ budgets. Note the amounts above include the Apartment Construction Loan Program, Affordable Housing Fund, Co-operative Housing Development Program, Federal Lands Initiative, and Affordable Housing Innovation Fund. For the major cities, note that the amounts represent commitments for agreements within municipal boundaries rather than Census Metropolitan Areas.
| Major cities | Contribution | Loan | Total |
|---|---|---|---|
| Halifax | $24,047,540 | $74,676,981 | $98,724,521 |
| Montréal | $39,601,676 | $373,957,172 | $413,558,848 |
| Ottawa | $18,220,087 | $307,026,140 | $325,246,227 |
| Toronto | $177,057,697 | $2,030,859,868 | $2,207,917,565 |
| Calgary | $14,897,894 | $252,523,207 | $267,421,101 |
| Edmonton | $30,205,235 | $68,546,218 | $98,751,453 |
| Vancouver | $32,392,775 | $208,363,531 | $240,756,306 |
Source: Canada Mortgage Housing Corporation. Last Updated: December 4, 2025, [updated quarterly].
Notes: Amounts above the funding that has been financially committed representing agreements signed between January 1, 2025 and September 30, 2025. Funding amounts above may come out from this year’s budget or future years’ budgets. Note the amounts above include the Apartment Construction Loan Program, Affordable Housing Fund, Co-operative Housing Development Program, Federal Lands Initiative, and Affordable Housing Innovation Fund. For the major cities, note that the amounts represent commitments for agreements within municipal boundaries rather than Census Metropolitan Areas.
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