“Elected councils must also reconsider existing policies that preclude homeowners from listing their homes for sale, including significant added upfront costs like the land transfer tax. Municipal council decisions have a direct impact on housing affordability, in terms of the protracted development approval processes, high development fees and other related policies that preclude timely housing development,” said TRREB President Kevin Crigger. Candidates running in the upcoming Ontario municipal elections must ensure home buyers and renters have adequate housing options in the years to come. “We must ensure that the temporary dip in housing demand is not allowed to mask the critical shortage of homes available for sale in the GTA. The poll found that 71 per cent of combined Toronto and ‘905’ regions residents believe that municipalities should focus their efforts on increasing the supply of homes for sale and rent rather than trying to reduce demand for housing. Recent polling by Ipsos Public Affairs for TRREB 1 suggests that the public agrees the lack of housing supply is a key issue in the GTA. This is especially troublesome given that the stock of homes in the GTA increased markedly over the last 20 years. This was the lowest number of new listings reported for the month of September since 2002. New listings were also down on a year-over-year basis by 16.7 per cent to 11,237. Sales for the month reached 5,038, but were down by 44.1 per cent compared to September 2021. 05, 2022 (GLOBE NEWSWIRE) - The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs in September 2022. ![]() EIN News/ - TRREB Calls on Municipal Election Candidates to Remain Focused on Addressing Housing Affordability
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