New Single Family: Outlying Regions

Last Decade Dept: Condo development is in overdrive in the downtown core while construction of new single-family homes in the regions has run out of gas down 57 per cent in the last decade, veteran housing experts are quietly warning, according to The Star. At the same time, a perfect storm of high development surcharges by municipalities and a shortage of develop-ready land in the outlying regions has seen housing starts decline so dramatically, they now lag far behind demand and there are growing concerns that Ontario s push to curb urban sprawl and intensify development has taken off with unexpected vigour. Land prices are skyrocketing as developers, keen to cash in on the biggest condo boom in the world, are engaging in extremely competitive bidding for the dwindling number of prime development sites left along subway lines. (www.immigrantscanada.com). As reported in the news.