Home buyers in the GTA do not have good housing options available for sale or rent
The GTA population is growing faster than new homes are being built. In 2017, only 38,000 new homes were built, whereas 50,000 new homes are needed each year to keep up with the demand.
“Residents of the GTA are concerned about housing affordability and availability,” said Dave Wilkes, President and CEO, BILD GTA. “People are concerned about where young families and first-time home buyers will live, or if they will be able to afford to live in the GTA at all.”
The only solution is for the municipal government to get involved and make it easier for developers to build these types of missing housing types.
There is too much red tape and long delays to get new housing projects approved with the city.
These delays reduce the supply and affordability of housing available for sale.
Additionally, municipal zoning rules limit housing types to detached houses or condominiums, so there isn’t much room for creative solutions to provide more a large amount of housing without building another condo.
Young families and new home buyers want better options for housing in the GTA.
In order to be able to build more affordable homes to meet demand, the municipal government in the GTA needs to create better infrastructure to allow for the creation of new homes.
In addition, the municipal government needs to support zoning rules that allow developers to build more of these missing housing types, and reduce the long delays in approvals for new developments.