Bryan Tuckey
BILD CEO
But the supply of new-build homes is an ongoing problem, said Tuckey, who appealed to the government to help builders make more new homes, particularly low-rise housing, available.
BILD statistics show there were only about 11,000 new homes on the market in June, compared to about 18,000 in the same month last year. Ten years ago, about half of the 30,300 new homes available were single-family dwellings.
"The challenges builders face, including the lack of serviced and permit-ready developable land and out of date zoning bylaws continue to impact the supply of housing," said Tuckey in a press release.
BILD statistics show there were only about 11,000 new homes on the market in June, compared to about 18,000 in the same month last year. Ten years ago, about half of the 30,300 new homes available were single-family dwellings.
"The challenges builders face, including the lack of serviced and permit-ready developable land and out of date zoning bylaws continue to impact the supply of housing," said Tuckey in a press release.
We are the land development and homebuilding industry, so why don't we just launch more projects and build more homes? Unfortunately there are many barriers, most of which government could help resolve. Some of the solutions, such as fixing the approvals process by reducing excessive red tape and modernizing local zoning bylaws so that they align with provincial intensification policy, could be achieved without additional costs.
The time has come to acknowledge that we have a housing problem in the GTA. It is time for government to recognize that we can all work together on solutions giving home buyers – now and in future – places to live and access to homes they can afford.
The time has come to acknowledge that we have a housing problem in the GTA. It is time for government to recognize that we can all work together on solutions giving home buyers – now and in future – places to live and access to homes they can afford.
GTA housing affordability crisis similar to London and Palo Alto: Bryan Tuckey
Unless the GTA addresses its lack of housing supply, prices will continue to rise beyond the reach of most residents or workers, BILD president warns.
Unless the GTA addresses its lack of housing supply, prices will continue to rise beyond the reach of most residents or workers, BILD president warns.
As mandated by government intensification policies, the industry is building far more high-rise condominiums and far fewer low-rise homes than it did 10 years ago. However, demand for single-family townhouses, detached homes and semi-detached homes has not diminished. Demand is outpacing supply, and the result is reduced housing choice and higher prices for new and resale low-rise homes. Supply is limited due to a lack of land that is serviced with infrastructure and designated for development, both of which are controlled by government.
"The real demand is in ground-related product, townhouses, row houses, semi-detached homes," said Bryan Tuckey, chief executive of the Building Industry and Land Development Association. "They can't build more ground related product because of the land situation."
Mr. Tuckey said the situation is different for high rises. Builders had excess inventory and chose to sell off that supply before building new product. That lack of supply is making the low-rise homes that are going up are even more dense – meaning the days of detached homes are coming to an end.
Mr. Tuckey said the situation is different for high rises. Builders had excess inventory and chose to sell off that supply before building new product. That lack of supply is making the low-rise homes that are going up are even more dense – meaning the days of detached homes are coming to an end.