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GTA real estate report

Interesting report. Thanks for posting the link. The takeaway summary from their executive summary is as follows:

Key insights are as follows:
  1. There is no shortage of land throughout the GTA to build single-family homes for decades to come, but this land is predominantly located far from the City of Toronto and other established centres of employment.
  2. There is limited supply of land to build single-family homes in established, location-efficient neighbourhoods where people want to live; therefore home prices have increased and will continue to rise in these locations.
  3. Due to scarcity of affordable single-family housing stock in established location-efficient neighbourhoods, demand has shifted to comparatively more affordable multi-unit homes, and prices have risen accordingly. Many homebuyers are being “priced out†of established neighbourhoods and are faced with a trade-off: condominium style living in transit-accessible neighbourhoods or owning a single-family home located in car-dependent neighbourhoods.
  4. There is no evidence that Provincial land use policies, including the Greenbelt Plan and the Growth Plan for the Greater Golden Horseshoe, restrict housing development and contribute to rising home prices.
 

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