In the midst of a continuous and steady rise in housing prices around the GTA, Ontario is putting forward a Housing Supply Action Plan to try and address some of the key issues at hand.
The Plan outlines five broad areas of improvement. They include:
- Increasing the speed at which new developments take place
- Reducing restrictions to the types of housing structures that can be built
- Reducing development costs
- Protecting the rights of tenants and landlords
- Spurring innovation in the market
Although these factors are all relevant to the current housing situation, some municipalities are concerned about what the implementation of any plan may look like.
Collectively, Oakville, Halton Hills, Burlington, and Milton prepared a submission to the province that brought forward their concerns with this provincial proposal. They all agree there is a lack of clarity around the proposed policies and existing housing policies aimed at addressing similar issues in the market.
Another concern is striking a balance between affordable housing, and maintaining the fees necessary for maintenance and other municipal services. Municipalities have formally suggested that the province withdraw its portion of HST from housing purchases in order to ease the fee-burden of buyers without compromising revenue to communities.
Hopefully municipalities and the provinces can agree on a plan that strikes a good balance. More details of the plan should be released soon.