At the recent Ontario REALTOR Party Conference, the Ontario Real Estate Association’s annual political affairs conference, Premier Doug Ford made keynote remarks that stated that the government is committed to making it more appealing for developers to build rental housing.
Currently, Ontario has Canada’s second-highest average rental costs, following British Columbia. Yet Ontario’s current rental vacancy rate is at its lowest level in 17 years, sitting at 1.6 per cent.
“It’s almost never been more difficult or expensive to find a home to rent in Ontario,” he said, as noted in an Ontario news release. “I promised the people of Ontario that our government would help create more housing – and more housing people can afford.”
Premier Ford’s Plan for the People includes strategies to help the province’s real estate industry grow, including making it easier to build housing, as well as shortening approval times for proposed developments.