Housing affordability remains a serious issue in the GTA.
Residents want a concrete plan that will offer actionable solutions to create more housing options.
The current supply of homes available to buy or rent can’t meet the demand from our Growing Population.
and that’s driving up prices.
SOLUTION: Avoid or Minimize Taxes
Existing and new Land Transfer Taxes Can discourage “move-up buyers” from listing their homes for sale, as they choose to stay put and renovate instead. Government-imposed fees and charges currently add up to 24 percent of the purchase price of a home across the GTA.
35
%
of Toronto and “905” residents, combined, oppose increases to development charges
Ipsos Public Affairs, September 2022
Ipsos Public Affairs, September 2022
A Complex planning and development approval Process creates roadblocks to building housing.
Making Homes Increasingly Expensive.
Solution: Reduce Red Tape
A Complex Planning and development approval process, Outdated Restrictions on housing types in existing neighbourhoods and Inadequate Infrastructure are all partly to blame for the lack of housing supply, which in turn Is Making Homes Increasingly Expensive.
Making home energy audits a mandatory condition of sale could make current housing affordability challenges even worse.
Potential delays in access to professionals who conduct energy audits Could Stall the Sale and Purchase of a Home.
Solution: Voluntary Audits
Energy Audits are a great tool to combat climate change, but we have to make sure that new initiatives don’t have unintended consequences for other priorities. We need to Make Energy Audits Voluntary, ideally as part of the current home inspection process.
55
%
of Torontonians and 78% of “905” residents believe that home energy audit and ratings should remain voluntary
Ipsos Public Affairs, September 2022
Ipsos Public Affairs, September 2022
The Toronto Region Board of Trade agrees with TRREB:
" INADEQUATE HOUSING SUPPLY IS CHIPPING AWAY AT OUR REGION’S COMPETITIVENESS. WE NEED TO BUILD MORE HOMES – FROM GENTLE DENSITY IN EXISTING NEIGHBOURHOODS TO LARGE-SCALE TOWERS. MISSING MIDDLE HOUSING IN PARTICULAR WILL ENABLE NURSES, TEACHERS, PARAMEDICS AND MANY OTHER ESSENTIAL WORKERS TO TAKE UP RESIDENCE IN THE CITY.
THE COST OF HOUSING, COUPLED WITH THE TIME AND COST OF LONG COMMUTES, IS A KEY FACTOR IN THE LOW RETENTION RATES WE SEE TODAY AND THE DIFFICULTY BUSINESSES FACE IN ATTRACTING THESE WORKERS IN THE FIRST PLACE."
Jan De Silva, President & CEO, Toronto Region Board of Trade
More transit will be required to properly support population growth and higher density neighbourhoods across the gta.
More Infrastructure is the key to more housing options.
Solution: MORE INFRASTRUCTURE
New Transit and transportation services will Allow for Higher Density and Mixed-Use Communities which means more housing options, for more of us.
by restricting what type of housing can be built, municipalities are limiting the options of housing that will be available in the future.
Solution: NO EXCLUSIONARY ZONING
Toronto needs to End Exclusionary Zoning to support the as-of-right building of multi-home projects such as duplexes, triplexes and fourplexes on single lots while streamlining and accelerating the review of these projects.
55
%
of Toronto and “905” residents, combined, believe that municipalities should focus their efforts on increasing the supply of homes for sale and rent, rather than trying to reduce demand
Ipsos Public Affairs, September 2022
Ipsos Public Affairs, September 2022
