Canadians get affordable housing help — Hamilton

Author: Toronto Real Estate Admin / Category: News Bulletin

Plan calls for significant investments in affordable units and repairs to existing units

HAMILTON, ONTARIO, November 23, 2017 — All Canadians need and deserve housing that is safe and affordable. A home makes Canadians feel more secure, making it easier to raise healthy children, pursue an education, and gain employment.

Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs), on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, today shared details of 10-year, $40 billion National Housing Strategy that will help reduce homelessness and improve the availability and quality of housing for Canadians in need.

Across Canada, 1.7 million Canadians are in core housing need. To help address this, the Strategy has set bold goals including:

  • reducing chronic homelessness by 50 per cent;
  • removing more than 530,000 households from housing need;
  • creating four times as many new housing units as built under federal programs from 2005 to 2015;  
  • repairing three times as many existing housing units as repaired under federal programs from 2005 to 2015; and
  • protecting an additional 385,000 households from losing an affordable place to live.

The National Housing Strategy is meeting the needs of Canadians, including seniors, Indigenous Peoples, survivors of family violence, people with disabilities, refugees, veterans, and those grappling with homelessness. It will promote diverse communities and encourage the construction of homes that are sustainable, accessible, mixed-income, mixed-use, and located near transit, work, and public services. In response to calls from housing advocates, service providers and feminist leaders, the Strategy commits to ensuring that at least 25% of funds go to projects for women, girls and their families.

This Strategy – built by and for Canadians – sets a long-term vision for housing in Canada with unprecedented investments and new programs that will deliver real results for Canadians working hard to improve their quality of life.

This Strategy will focus on the needs of the most vulnerable through a human-rights-based approach to housing. Within the next year, legislation will be introduced obligating the federal government to maintain a National Housing Strategy and report to Parliament on housing targets and outcomes.

The federal government will work with provinces and territories to develop a $4 billion Canada Housing Benefit to be launched in 2020 to respond to local housing needs and priorities. This will be a significant new tool to address challenges of housing affordability in communities across the country. It will provide an estimated average of $2,500 per year to each household recipient, assisting at least 300,000 families when fully implemented. The benefit be delivered directly to households as a portable benefit they can use to help with the costs of housing.


“Our Government is establishing a federal leadership role in housing. The National Housing Strategy will create a new generation of housing in Canada. It will promote diverse communities and will build housing that is sustainable, accessible, mixed-income and mixed-use that will be located near transit, work and public services.”

Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

“Our Government is deeply committed to ensuring that Canada’s existing social housing stock remains affordable and in good repair well into the future. The National Housing Strategy is a key element of our Government’s plan to make new investments in social infrastructure – things like affordable housing and early learning and child care – to help strengthen the middle class, promote growth and give all Canadians the opportunity to succeed.”
Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs)

Quick facts:

  • The National Housing Strategy – Canada’s first ever – was developed through consultations with Canadians from all walks of life: people who have experienced barriers to good housing, experts, stakeholders, think tanks, as well as provinces and territories and municipalities.
  • Over the next 10 years, the Strategy – which will be in part funded jointly by the federal, provincial, and territorial governments – will help reduce homelessness and the number of families living in housing need, and will help strengthen the middle class.
  • Investment under the National Housing Strategy includes:
    • $15.9-billion for a new National Housing Co-Investment Fund
    • $8.6-billion for a new Canada Community Housing Initiative in partnership with provinces and territories, and $500 million through a new Federal Community Housing Initiative
    • $4-billion for a new Canada Housing Benefit to be launched in 2020 in partnership with provinces and territories
    • $2.2-billion to reduce homelessness
    • $300-million in additional federal funding to address housing needs in Canada’s North.
    • $241-million for research, data and demonstrations.
  • In recognition of the significant amount of new housing units to be built and repaired through the federal Co-Investment Fund, the Strategy also includes ambitious targets to reduce greenhouse gas emissions, and ensure accessibility in building design.
  • The Government of Canada is also working with Indigenous leaders to co-develop distinctions-based housing strategies with First Nations, Inuit, and Métis Nation that will be founded on the principles of self-determination, reconciliation, respect, and cooperation.

Associated links:

Media contacts:

Émilie Gauduchon
Press Secretary
Office of Minister Duclos

Audrey-Anne Coulombe
Media Relations
Canada Mortgage and Housing Corporation


Canada’s National Housing Strategy

The National Housing Strategy is a part of a long-term vision to strengthen the middle class, promote sustainable growth for Canadians, and lift more Canadians out of poverty.

The Strategy – funded through new and existing programs – follows a human rights-based approach, and includes a National Housing Co-Investment Fund, community housing initiatives, and the Canada Housing Benefit.

A human rights-based approach to housing

Canadians deserve safe and affordable housing.

The National Housing Strategy will help address a range of housing needs, from shelters and community housing, to affordable rental and homeownership. It will promote:

  • Accountability
    • New legislation that promotes a human rights-based approach to housing and prioritizes the housing needs of Canada’s most vulnerable
    • A federal housing advocate to advise and identify actions to address systemic barriers faced by vulnerable groups
  • Participation and inclusion
    • A National Housing Council with a diverse membership that will provide advice to CMHC and the responsible Minister
    • A Community-Based Tenant Initiative that will support grassroots organizations by providing information and resources to tenants facing barriers in accessing community and affordable housing
    • A public engagement campaign to highlight the benefits of inclusive communities and housing to begin in 2020

National Housing Co-Investment Fund

The National Housing Co-Investment Fund will provide $15.9 billion – including $4.7 billion in contributions and $11.2 billion in low interest loans – to repair existing rental housing and develop new affordable housing. The Fund is expected to create up to 60,000 new homes and repair up to 240,000 existing community homes.

The Fund will involve partnerships with – and investments from – the provinces and territories, municipalities, non-profits, co-operatives, and the private-sector. It will provide:

  • More shelter spaces for survivors of violence
  • Transitional and supportive housing for those in need
  • New and repaired affordable and community housing
  • Help to make homeownership more affordable for modest income earners

The Fund will also support Canada’s climate change goals, promote technologies that decrease the impact of housing on the environment, and improve the accessibility of housing for people with disabilities.

To encourage the development of sustainable, accessible, mixed-income, and mixed-use developments and to maximize the impact of this Fund, the Government of Canada will transfer up to $200 million in federal lands to housing providers. Funding will also be provided for environmental remediation, renovations, or retrofits to ensure surplus federal buildings are suitable for use as housing.

Canada Housing Benefit

The federal government will invite provinces and territories to partner on a jointly funded $4-billion Canada Housing Benefit.

To be launched in 2020, the Canada Housing Benefit will provide affordability support directly to families and individuals in housing need, including those currently living in social housing, those on a social housing wait-list and those housed in the private market but struggling to make ends meet.

The Government estimates that the Canada Housing Benefit will deliver an average of $2,500 per year to each recipient household. Over time, the Canada Housing Benefit will grow to support at least 300,000 households across the country.

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REALTORS® Recognize National Housing Day by Raising Awareness of Important Housing Issues

Author: Toronto Real Estate Admin / Category: Toronto Realtor

TORONTO, November 22, 2017 — With November 22, 2017 formally recognized as National Housing Day, the Toronto Real Estate Board (TREB) is proud to be doing its part to raise awareness of important housing issues.

“Adequate housing is fundamental to society, and the housing market plays a key role in our local, provincial and federal economies. National Housing Day is an opportunity to have a conversation about important housing issues and needs,” said Tim Syrianos, TREB President.

In this spirit, over the last two days, volunteer TREB Member REALTOR® representatives met with numerous MPPs at Queen’s Park to provide them with information on the state of the housing market, as well as several important public policy issues related to housing.

“TREB believes that it is important to contribute to the development of public policy on housing. That’s why we have made it a priority over the last year to work with all levels of government as they have considered various public policies relevant to housing markets,” added Syrianos.

In recent months, TREB has participated in provincial and municipal housing working groups to help formulate policy intended to keep housing and home ownership affordable and accessible.

“Realtors will continue to contribute to housing policy discussions.  In particular, TREB will be releasing our annual Market Year in Review and Outlook on January 30, 2018. The report will contribute valuable information and dialogue to the important housing issues facing the Greater Toronto Area, including consumer home buying intentions,” said Syrianos.

More information on this report and an associated media event to present the details will be made available in the coming weeks.

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TREB Provides Input to City Council on Short-Term Rental Housing Regulation

Author: Toronto Real Estate Admin / Category: Toronto Realtor

TORONTO, November 14, 2017 — With the City of Toronto’s Planning and Growth Management Committee holding public hearings, today, on proposals to regulate short-term rental housing accommodations, the Toronto Real Estate Board (TREB) has submitted formal comments on this issue to City Councillors.

“TREB supports innovation in the economy and believes that, with fair and equitable regulatory oversight, the home sharing economy can provide valuable economic benefits; however, it is important to ensure that new practices do not have unintended negative consequences on public policy priorities, and that regulation and taxation is applied in a fair and equitable manner”, said Tim Syrianos, TREB President.

TREB’s submission to Toronto City Councillors supports the principle of the sharing economy, but raised various concerns that it believes should be considered by City Council.  In particular, TREB shares concerns that have been raised by municipalities, and others, about the impact of the home sharing economy on the supply of affordable rental housing, and potential other unintended consequences such as impacts on surrounding property owners and/or tenants.

“The supply of affordable housing in Toronto and across the GTA is one of the most significant issues facing our region. Municipal decision makers must consider this priority when reviewing potential regulation of short-term rental housing. The City’s proposal to limit short-term rental housing to a principal residence is an interesting approach that deserves consideration,” said Syrianos.

TREB has also noted that, in the spirit of fair and equitable taxation and regulation, City Council should consider how best to maintain a level playing field between the home sharing economy and other options.

“There are many angles to consider with regard to the sharing economy and the short-term rental market, not the least of which is fair taxation to ensure that all providers of short-term accommodation are treated equitably,” added Syrianos.

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TREB Releases Monthly Market Figures Reported By GTA REALTORS®

Author: Toronto Real Estate Admin / Category: Toronto Realtor

TORONTO, November 2, 2017 — Toronto Real Estate Board President Tim Syrianos reported 7,118 residential sales through TREB’s MLS® System in October 2017.  This result represented an above-average increase between September and October of almost 12 per cent, pointing to stronger fall market conditions.

On a year-over-year basis, October sales were down compared to 9,715 transactions in October 2016.  Total sales reported through the first 10 months of 2017 amounted to 80,198 – down from 99,233 for the same time period in 2016.

“Every year we generally see a jump in sales between September and October.  However, this year that increase was more pronounced than usual compared to the previous ten years.  So, while the number of transactions was still down relative to last year’s record pace, it certainly does appear that sales momentum is picking up,” said Mr. Syrianos.

The MLS® Home Price Index Composite benchmark price was up by 9.7 per cent on a year-over-year basis in October.  Annual rates of price growth were strongest for townhouses and condominium apartments.  The average selling price for October transactions was $780,104 – up by 2.3 per cent compared to the average of $762,691 in October 2016.

“The housing market in the GTA has been impacted by a number of policy changes at the provincial and federal levels.  Similar to the track followed in the Greater Vancouver Area, it appears that the psychological impact of the Fair Housing Plan, including the tax on foreign buyers, is starting to unwind,” said Jason Mercer, TREB’s Director of Market Analysis.

“TREB will be undertaking its annual consumer polling process over the last two months of 2017.  This polling will include research into the impact of recent and proposed government policy changes on consumer intentions to buy and sell homes in the GTA, including the impacts of the new OSFI guideline and a potential vacancy tax in the City of Toronto.  In addition, TREB continues to work with different levels of government on solutions to the long-term housing supply issues in the region,” added Mr. Syrianos.

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