Homebuyers’ demands clash with urban policy: Fortress report

Sep 21 16:09 2017 Print This Article

A new report says the Ontario government is directing growth to locations and built forms that don’t align with demand in the marketplace, resulting in skewed housing values in the short run.

The Fall 2017 Fortress Market Manuscript, which analyzes the Canadian residential housing market, was released this week.

“The growth targets may be beneficial from a financial, political and environmental perspective, but they have severe supply implications and major repercussions on housing values,” says The Market Manuscript – an analysis of the Canadian residential housing market, authored by Ben Myers, senior vice-president of Market Research and Analytics for Fortress Real Developments.

Fifty-six per cent of Ontario urban planners surveyed by Fortress believe urban containment policies such as the Places to Grow and the Greenbelt Acts contribute to the high new home prices in the GTA.

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