OREA’s Analysis of Ontario’s Efforts to Boost Housing Supply

The Ontario Government has set an ambitious goal of adding 1.5 million homes to the province’s housing stock by 2031. This goal reflects the urgent need to solve Ontario’s housing affordability crisis – one ultimately driven by too few homes, for too many people. While notable progress has been made since 2018, more can and must be done to ensure Ontarians have the homes they need today, and in the future. With this paper, OREA hopes to point the best way forward.

In 2024, the Ontario Government should return its focus to the most impactful policies, with the most long-term benefit to housing supply in Ontario. Based on progress to date, OREA has outlined a path forward with 10 action items that are critical to increasing housing supply and improving affordability across the province.

Based on progress to date, the report recommends next steps in three key areas, that decision-makers and officials must take to get more homes built and improve affordability.

These action items are:

Fix the Ontario Land Tribunal and Zoning Rules

1) Reform the Ontario Land Tribunal by preventing abuse, eliminating backlog, and allowing fines for unreasonable delays

2) Implement land use changes to end exclusionary zoning

3) Modernize zoning to support commercial-to-residential conversions and greater density along transit corridors

4) Streamline new development applications by requiring pre-consultations

Lower Housing Costs

5) Allow water and wastewater services to be provided through a municipal services corporation

6) Abolish the Land Transfer Tax

7) Reform how municipalities collect and spend development charges

More Workers and New Models of Ownership

8) Increase the number of skilled tradespeople in Ontario

9) Fund pilot programs that create innovative pathways to homeownership for first-time homeowners

10) Implement provincial loan guarantees and support for innovative ownership projects

Click Here to Access The Full Report

This article was originally published on the Ontario Real Estate Association (OREA) website in February 2024. Analysis of Ontario’s Efforts To Boost Housing Supply (orea.com)