A group of British Columbia real estate organizations recently made recommendations to the leading federal parties to help address housing issues in the province, and there are a couple ideas that seem like they might work in the GTA too.
You think Toronto’s residential rental market is tight now? According to a recent report from the Royal Bank of Canada, the demand for rent is only going to get stronger, and there’s not enough inventory to accommodate it.
Thanks to the 2019 Canadian Rental Housing Index, we now have a better picture of the rental affordability crisis in Canada, and it hits hard in Ontario. Of the top 20 federal ridings with the worst rental affordability challenges, 11 are in Ontario.
Condo rental rates were flat during this time period, averaging between $2,600 and $2,650 a month. Purpose-built rental listings were around $2,000 a month in January 2019 and have since increased more than 7% to $2,133.
The Housing Affordability Survey, a Leger poll of more than 1,500 Canadians, commissioned by FP Canada, discovered that 48% of parents with children under 18 years of age intend to assist with the purchase of a first home.
There's a change in the air. There’s talk of prefab housing being piloted to combat homelessness. Laneway suites will soon be popping up across all of Toronto. Sidewalk Labs unveiled plans for mass timber building designs and prefab construction.