Niagara is getting a serious boost to its housing supply, and fast. This week, the Ontario government awarded $6.8 million to St. Catharines, Niagara Falls, and Welland through the Building Faster Fund. Why? Because these three cities started construction on nearly 2,000 new homes in 2023 alone, beating their provincial targets.

This matters more than you might think. In a region where inventory has been tight for years, more new homes means more choice, especially for first-time buyers, renters looking to purchase, and investors seeking newer, low-maintenance properties.

Here’s how we expect it to play out:

• Short-Term: Don’t expect a flood of finished homes right away. But these starts signal a steady stream of new inventory over the next 12–24 months, especially in the lower-to-mid price ranges.

• Medium-Term: New development often drives infrastructure improvements, think roads, transit, and amenities. That benefits the entire community and can increase home values in surrounding areas.

• Buyers: If you're willing to be patient or consider a pre-construction option, these new builds could represent great value.

• Sellers: This is the time to get ahead of the curve. If you’re thinking of selling in the next year or two, understanding how nearby developments may affect buyer demand or pricing is key.

As local realtors, we’re keeping close tabs on which builders, neighbourhoods, and price points are emerging strongest, and we’re happy to share what we’re seeing behind the scenes.