With the provincial election ahead, the Toronto Real Estate Board is calling on all parties to outline their housing policies.
TREB is hoping that housing issues in the Greater Golden Horseshoe will lead to a vigorous debate ahead of June’s vote, with both rental and ownership dominating the region’s headlines over the past few years.
“Greater Toronto Area REALTORS® have been involved in recent discussions on provincial housing policy which impact the GGH, including the tax on foreign buyers, rent control and increases to the provincial and municipal land transfer taxes, among others,” said TREB President Tim Syrianos.
He added that recent research and past experiences have shown that demand-focused measures do not lead to long term affordability in the housing market.
TREB CEO John DiMichele reinforced the view that diversity of home supply in the rental and purchase markets are important for achieving long-term market balance in the GGH market.
“This could include re-examining current policies constraining supply and additional policies that could help bridge the gap between traditional low-rise types and high-rise condo apartments, often referred to as the missing middle. Consumers also need relief from high taxation such as provincial and municipal land transfer taxes which is affecting affordability and discouraging mobility,” he said.