Toronto鈥檚 condo market is cooling and for aspiring homeowners, the headlines are beginning to offer hope. Prices that soared over the last decade have begun to fall back to earth, led by studio and one-bedroom . Earlier this week, the federal housing minister told the 海角社区官网Star that the city simply has 鈥渢oo much condo product,鈥 an 鈥渙versupply.鈥 That鈥檚 one way to put it.聽
A better way is to recognize that, for the first time in years, completions and have pushed supply ahead of demand. long argued that adding supply would barely dent housing costs, but this correction proves the opposite. When more homes are built than buyers or renters can absorb, prices fall. That may be painful for those who bought at the peak, but it is an adjustment our housing system needs. If we want affordability for families, we must create the same oversupply conditions for two-, three- or even four-bedroom homes.
The question now is how we keep building as prices fall and apply the lessons of the small-condo market to the entire housing system. Pressure on governments has already secured progress on zoning. Multiplexes are now legal citywide, and major transit station areas will soon allow midrise buildings from four to six storeys in much of Toronto. For years, restrictive zoning made the 鈥渕issing middle鈥 impossible. That fight isn鈥檛 over, but it is no longer the biggest obstacle. Beyond , the emerging barrier today is technical: the . This quiet rule book still blocks the small-lot, multi-bedroom apartments that would let families live in the neighbourhoods they already love. Fixing it doesn鈥檛 require another round of municipal battles. It requires the province to act.
Start with stairs. In Canada, new apartment buildings over聽 two storeys must have two enclosed staircases. On a narrow lot, that rule forces hotel-style corridors that waste space and prevent family-friendly layouts. Europe shows another path. Portugal buildings up to nine storeys, the Netherlands up to 10, and the U.K. has no fixed limit, relying instead on sprinklers and travel-distance rules.聽
recognized this in 2024 and legalized single-stair buildings up to six storeys with clear safeguards. Ontario should do the same. may sound modest beside Europe, but it would unlock countless small-lot sites for family housing while keeping modern fire safety. Opposition has come mainly from , who argue single-stair buildings are unsafe. The shows otherwise. Fatal fires occur disproportionately in single-family houses, not in sprinklered midrise apartments. Our fire services cannot keep presenting as the obstacle when the real issue is their unwillingness to adapt and retrain.
the problem. Once聽a building reaches four storeys, Ontario鈥檚 code requires full-sized, North American machines built for paramedics with stretchers and hospital-scale loads. That may make sense in a tower or health-care facility, but in four- to- 10-storey apartments it drives up costs, wastes space, and often kills projects outright. Across Europe and much of Asia, compact ISO-standard lifts are the norm in midrise apartments and safely serve millions every day. Allowing them would cut costs and free up space for larger rooms. It would also mean more elevators in small buildings, improving accessibility and daily convenience. With trade ties to the United States looking uncertain, aligning with European standards would strengthen partnerships with suppliers who share our urban challenges and offer proven technology.
Families want space to grow, light and air in their homes, and a neighbourhood scale that feels familiar. With , units with windows on multiple sides, bringing in natural light and fresh air. With smarter elevator rules, more small buildings can include lifts, improving accessibility and convenience. Together, these changes would make it possible to build more spacious, affordable homes for families in buildings that fit comfortably into neighbourhoods people already value.
The condo correction shows what happens when supply outpaces demand. Prices fall. That is good, but only if we extend the lesson to the homes that keep families in the city. Queen鈥檚 Park can help with two precise fixes. Permit up to six storeys, and recognize European-standard elevators for midrise up to 10 stories. Together they would unlock the family-focused buildings 海角社区官网is missing and prove that Ontario is finally willing to build enough homes to make housing affordable again.
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