Housing supply

Homebuilding industry releases five-point plan to address Ontario’s housing supply and affordability crisis

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Toronto, Aug. 09, 2022 (GLOBE NEWSWIRE) — Today, the Ontario Home Builders’ Association (OHBA) and the Building Industry and Land Development Association (BILD) released their key policy recommendations in a plan five points submitted for consideration by the provincial government. government for his new term. These priorities are based on the Housing Affordability Task Force’s February 2022 recommendations and forward-thinking initiatives that aim to reduce housing costs and increase housing supply for Ontario residents. .

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“Ontario is experiencing a housing shortage, and the lack of supply is driving up housing costs across the province,” said OHBA CEO Luca Bucci. “Ontario needs to build at least 1.5 million homes over the next 10 years to restore affordable housing prices. The five points the industry is releasing present a bold vision on how to build more housing quickly, so that every Ontarian can afford a place to call home. We call on the provincial government to continue to play a leadership role in defining this change and to work with our industry to implement these recommendations.

Ontario’s homebuilding industry understands that there is no silver bullet to solving the housing shortage and resulting affordability challenges. Therefore, BILD and OHBA recommend a series of changes to speed the delivery of new homes, add supply and balance the market. These recommendations include:

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1. Make homes more affordable by speeding up approval times and eliminating red tape. Every month of late approvals adds thousands of dollars to the cost of a new home.

2. Add certainty to the cost of building a new home by tackling runaway development costs. Already, fees and taxes from all levels of government account for up to 25% of the cost of a new home.

3. Make new land available to build new housing and support future growth, as housing supply and costs are highly dependent on land availability.

4. Lay the infrastructure foundation for future growth by ensuring that service and transport infrastructure are prioritized.

5. Eliminate politics from planning to ensure that local decision-making does not compromise the provision of new housing.

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“The evidence is clear, solutions have been identified, consensus has been reached – now is the time to act, said Dave Wilkes, President and CEO of BILD. “Our industry’s five-point plan outlines the changes needed to ensure new homeowners can afford to live in the GTA and our region’s economy prospers over the long term.

Download a complete copy of the five-point plan from BILD and OHBA.

With over 1,300 member companies, BILD is the voice of the home building, land development and professional renovation industry in the Greater Toronto Area. The construction and renovation industry provides over 231,000 jobs in the region and $26.9 billion in investment value.

The Ontario Home Builders’ Association is the voice of the home building industry in Ontario, representing 4,000 member companies organized into 27 local associations across the province. The homebuilding industry contributes over $76 billion to Ontario’s economy and employs over 550,000 people across the province.

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For more information or to schedule an interview on the Five Point Plan with Luca Bucci or Dave Wilkes, contact Justin Sherwood, SVP Communications and Stakeholder Relations, at jsherwood@bildgta.ca or (416) 371-6005.