A new IRCC study shows immigration drove 21% of housing price growth in major Canadian municipalities between 2006 and 2021. Cities like Toronto, Vancouver, and Calgary have seen demand soar as newcomers arrive, but experts stress immigration isn’t the only factor.

Limited housing supply, slow approvals, and high regulatory costs, sometimes 36% of a home’s price, are making the affordability crisis worse. With Toronto housing starts down 65% and layoffs looming in construction, both immigrants and long-term residents face steep rents and rising prices.

The study calls for faster approvals, lower costs, and more innovative settlement policies to balance immigration with housing availability.