OTTAWA, ON, July 13, 2023 /CNW/ - Regulations on the development and use of land are one of several key mechanisms that influence how affordable housing is and how much housing supply can be built in any given jurisdiction. While regulations often have important socio-economic goals, they may also impact the amount of housing that can be built. A closer look at these factors can help policymakers better understand Canada's housing supply gaps.
Today, Canada Mortgage and Housing Corporation (CMHC) is releasing findings from the 2022 Municipal Land Use and Regulation Survey. The survey looks at land use regulations in numerous cities across Canada, asking questions about zoning, fees, approval times, community consultation, density limits and environmental assessments. The preliminary findings seem to show an association between higher land use regulation and lower housing affordability.
CMHC research has estimated that an additional 3.5 million new housing units are needed by 2030 for affordability to be restored in the country. This survey offers important insights as policy makers and other stakeholders look for solutions to increase housing supply.
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SOURCE Canada Mortgage and Housing Corporation
CMHC Media Relations: [email protected]
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