2016 is off to a slow start in the new home building and development industry. Following one of the biggest years ever for new homes in the GTA, in January sales of new homes were down, prices were mostly flat and new inventory was limited.
The Greater Toronto Area housing market is dynamic and complicated, and while many factors contribute to increasing prices, one pivotal way to improve affordability is for governments to recognize the effect of their policies on the prices paid by consumers.
Ever wonder why homes are designed a certain way or why some buildings have more amenities than others? Almost all of those decisions are based on thorough market research looking into what homebuyers are looking for.
A recent column in the Globe and Mail has elevated debate on the effectiveness of “smart growth” policies, highlighting the eroding abilities of millennials to afford a new home in Canada due to rising prices.
The residential construction industry is a major economic engine in the regional, provincial and federal economy, and is an essential part of the economic strength and prosperity of the GTA. Here’s why: