Ford’s $1.6 Billion Housing Boost: What It Means for the Market

Premier Doug Ford announced this week that Ontario is committing an additional $1.6 billion to municipalities through the province’s Municipal Housing Infrastructure Program. The funding is designed to speed up housing development by covering the costly “behind the scenes” essentials—like roads, bridges, water, and wastewater systems—that new communities depend on.

On the surface, this is good news for the long-term health of Ontario’s housing supply. However, there’s an important reality check: Ontario is still well behind pace on Ford’s ambitious goal of 1.5 million homes by 2031. The province’s own tracker shows just 94,753 housing starts in 2024, far short of the 125,000 target for that year. Even with this new funding, construction isn’t keeping up with demand—especially since Ontario saw a 28% decline in housing starts year-over-year in July, while the rest of the country rose by 4%.

Why This Matters for Buyers and Sellers

For Buyers: The new funding may eventually ease supply pressures, but in the short term, the shortage of new builds keeps competition strong in the resale market. If you’re waiting for prices to drop, this report suggests that relief is unlikely anytime soon.

For Sellers: Low new construction means your home remains in higher demand. With fewer new options hitting the market, well-prepared listings continue to attract strong interest, especially in desirable areas.

The Bottom Line

This investment is a step in the right direction, but it’s not a quick fix. For now, Ontario’s housing market remains driven by tight supply and steady demand, which keeps opportunities strong for sellers while challenging buyers to act quickly when they find the right home.

📉 Market Performance & Trends

Market Stats: Hamilton Rents Edge Back Over $2,100

Hamilton’s rental market in July saw two-bedroom apartments average $2,134 per month, up slightly from June’s $2,073 and nearly identical to July 2024. One-bedroom units averaged $1,809, rising $22 month-over-month but down $13 year-over-year.

While rents have stabilized compared to the highs of recent years, they remain well above pre-pandemic levels — nearly 20% higher than 2021, when a two-bedroom averaged just $1,761.

My Take

For tenants, the recent stability provides some relief from the sharp increases of past years, but affordability remains a concern with rents still far above 2021 levels.

For investors and landlords, the consistency in pricing shows that demand in Hamilton is holding firm, especially compared to neighbouring cities like Burlington and Guelph where rents are even higher.

Overall, Hamilton remains in a middle ground: not the cheapest option in the region, but still offering relative value for renters, and steady income potential for investors.

Happening in Hamilton

Week of Aug 22nd – Aug 28th

🎵 Music & Performance

MUSIC ON THE WATERFRONT: ROBERTO SANTOS JAZZ QUARTET (Pier 8 Waterfront) Thur, Aug 28, 6:30pm-8:30pm - A free, weather-permitting concert featuring the Roberto Santos Jazz Quartet. Bring a lawn chair or blanket for this final summer Thursday soirée. Free. Free Click here for more info

STEEL CITY SWING DANCING (Pier 8 Waterfront) Sun, Aug 24, 6:30 pm–9:00 pm – Vintage swing dance with a free lesson at 6:30 pm, DJ to follow. Free Click here for more info

🎪 Festivals & Fairs

WINONA PEACH FESTIVAL (Winona Park) Fri-Sun, Aug 22-24 - A beloved summer festival filled with community events, entertainment, and plenty of peaches. Free Click here for more info

🌳 Family & Outdoor Fun

TOTTERING BIPED THEATRE: THE CARNIVAL OF ANIMALS (Dundurn National Historic Site) Sun, Aug 24 7pm-9pm - Catch this whimsical, fun-filled theatrical performance with music and antics inspired by Saint-Saëns’s beloved suite. Pay What You Can Click here for more info

HAMILTON FARMERS’ MARKET (35 York Blvd, Hamilton) Fri & Sat, Aug 22 & 23, 9am-5pm - Enjoy fresh local produce, crafts, demos, and the iconic Birks clock musical show. Free Click here for more info 

Featured Listing

76 Century St Basement • Hamilton • $1,500/Month
1 Bedroom • 1 Baths • All Utilities Included

Enjoy comfort and style in this modern 1-bedroom suite with full-height ceilings, recessed lighting, and open-concept living/dining. The kitchen features stainless steel appliances, granite counters, under-cabinet lighting, and a built-in dishwasher. Includes in-suite laundry, A/C, heating, hydro, water, gas, and high-speed Internet. Located near Hamilton General Hospital, the B-Line bus route, Cannon bike lane, and just minutes from McMaster University and downtown amenities.

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Igor Lukac is the owner of Kingswood Engineers. They have completed over 400 residential projects to date. With a dedicated team of architectural designers and structural engineers, Kingswood Engineers raises the bar in the residential renovation industry, marrying innovative design with impeccable engineering practices.

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