The target of 1.5 million new homes was set out in the report of Ontario’s Housing Affordability Task Force in February and was confirmed in a report by Smart Prosperity Institute this month. For context, building 1.5 million new homes in a decade will require increasing the number of annual housing starts in Ontario by 50 per cent over the highest number we have been able to achieve since 1987—approximately 100,000 in 2021—and maintaining that level for 10 years.
Adding certainty to the cost of building a new home by addressing out-of-control development fees. Fees and taxes from all levels of government account for up to 25 per cent of the cost of a new home. Laying the infrastructure groundwork for future growth by ensuring servicing and transportation infrastructure is prioritized.
These recommendations would help speed up the delivery of new homes, reduce the costs incurred by individual new homeowners and ensure that new communities have the infrastructure they need to support growth.
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