Housing | Notion

Starts rising: The six-month trend in national housing starts rose 4.1 percent in September 2025, reaching about 277,147 units annualised.
Urban growth: Housing starts in cities over 10,000 people were up 19 percent year-over-year in September 2025 compared to September 2024.
Affordability improvement: The share of household income needed to buy a home fell from roughly 60.7 percent to 55.1 percent between Q1 2024 and Q1 2025.
Major federal funding: The Affordable Housing Fund has committed about 12.9 billion dollars toward creating more than 50,300 new homes and repairing more than 174,600.
Rental expansion: Purpose-built rentals and apartments continue to dominate new construction, making up about 70 percent of starts in major metropolitan areas.
Low arrears: Mortgage delinquency remains very low, with only about 0.24 percent of residential mortgages 90 days or more in arrears.
Stress-test resilience: More than 90 percent of five-year fixed-rate mortgage holders are expected to renew at payment levels within the stress-test range they already qualified for.
Market stability: Forecasts show national resale transactions rising roughly 12 percent in 2025, signalling a stabilising market rather than a collapsing one.

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