Elected officials must take action on housing supply and affordability

With the municipal elections in the books, our newly elected officials must make housing affordability and supply a priority. TRREB launched givemeoptions.ca to help you easily understand the roadblocks choking the supply in the marketplace and to have your say on the future of housing.

Join us in urging policymakers to take action on four key issues happening in the GTA’s real estate market right now.

Four key issues

1. Reduce red tape: The lengthy development approval processes and exclusionary zoning is delaying and preventing the new supply of homes.

2. Cut costs: Development fees are among the highest in North America and drive up the price of homes.

3. Avoid and minimize taxes: Other significant upfront costs such as the Municipal Land Transfer Tax strain homebuyer budgets and discourage existing homeowners from putting their homes for sale.

4. Make energy audits voluntary: Mandatory home energy audits could interfere with and delay the selling and buying process.

We also teamed up with Ipsos Public Affairs to survey consumers on their thoughts and perspectives on these key issues. The top three findings were:

1. 83 per cent of Torontonians and 87 per cent of 905 residents believe that governments should remain focused on providing financial incentives such as rebates on renovations that improve a home’s energy efficiency

2. 73 per cent of Torontonians and 78 per cent of 905 residents believe that home energy audits and ratings should remain voluntary; and

3. 71 per cent 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.

Attention beyond the election

We need to give housing affordability and supply issues the attention they deserve beyond the election. I invite you to visit givemeoptions.ca and easily send a message to your local elected official to encourage them to continue to make these municipal matters a priority. You can also visit trreb.ca to explore the latest insights into the housing market. Plus, connect with a TRREB member realtor and search listings in real time on any device.