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His comments come after the province introduced 16 measures to deal with affordability in the region, including a 15 per cent on foreign investors buying in the Greater Golden Horseshoe. The province has promised rules to make it easier for developers to get projects going but many have complained new measures do not address the Ontario Municipal Board where those same builders say they face major delays for hearings.

Across the GTA, there were 10,153 homes available to buyers in builder inventories, according to Altus Group, BILD’s source for new-home market intelligence. The available builder inventory has dropped by half in just one year. A year earlier, there were 21,006 homes available to buyers.

The available supply of new single-family low-rise homes, which includes detached, semi-detached and townhomes, dropped to 932 at the end of March. A decade ago there were 17,854 available homes on the market. The supply of single-family detached homes was off 98 per cent from a decade ago with just 233 available across the region compared to 11,802 in March, 2007.

“The inventory numbers are telling us very clearly that not enough new housing and not the right mix of housing is being built to keep up with consumer demand or our housing needs,” said Tuckey. “The industry is following the province’s intensification policy and building and selling far fewer low-rise homes than a decade ago, but demand for single-family homes has not dropped.”