Sandy Mackay’s Post

Those are some well-thought-out solutions Sandy. I would add the following: Address speculation: Implement policies to discourage speculative investment in real estate, such as vacancy taxes or limits on foreign ownership, to stabilize prices and prevent housing bubbles. Provide financial assistance for homebuyers: Offer subsidies or low-interest loans to first-time homebuyers, particularly those in lower-income brackets, to help them enter the housing market. Improve rental regulations: Strengthen tenant protections, enforce fair rent policies, and provide support for affordable rental housing to ensure housing stability for renters. #canadahousingcrisis #canadahousingmarket #hamont  #torontorealestatemarket #investincanada

The Fall Economic Statement paints a gloomier picture for housing construction in Ontario. While original projections for 2024 were 88,000 housing starts, the latest updates estimate 81,000– falling even further below the government’s own target of 125,000 in 2024. When it comes to the private sector forecasts the findings also lag behind– initially projecting 370,000 starts over the next four years, Ontario is now expected to start 356,000 homes. The numbers don’t lie, and while several factors contribute to the ongoing crisis and decreasing starts, “without a reduction in development taxes and fees charged by the government, housing starts could slip further”, worries Building Industry and Land Development Association (BILD) President and CEO, David Wilkes. Build Urban believes cooperative collaboration can produce effective results and every piece to this complicated puzzle plays a crucial role. It’s time that all stakeholders–public, private and community groups–do their part to work our way out of the crisis. Read the full story here: https://bit.ly/48z8AOf #BuildUrban #FallEconomicStatement #Housing #Ontario

As UK house prices continue to escalate with the average property now costing upwards of £270,000 (up by 10.8% over the last year according to the UK House Price Index) The housing construction sector, already challenged by a shortage of skilled workers, has seen costs rise post-pandemic. Material prices have jumped nearly 23% compared to pre-COVID levels, complicating the already-complex enterprise of home-building. Consequently, the dream of Home ownership getting tougher for people like young families and essential workers, increasing their likelihood of staying in the rent cycle indefinitely. Strategic regeneration of brownfield sites also looms as a promising avenue, presenting the double win of preserving green spaces while adding as many as 1 million new homes. The deciding factor for a sustainable shift in the housing market is a community effort. Equally pivotal is sustainability into each new development, ensuring an environmentally-conscious approach to affordable housing. How do you see us overcoming these challenges? #AffordableHousing #UKProperty #HousingCrisis #GMHousing

Affordable housing starts in London have dropped by 88% year-on-year, according to the latest data from the Ministry of Housing, Communities and Local Government. Affordable housing starts in London dropped to 3,156 in the 2023-24 financial year, down from 26,386 starts the year prior. In addition, affordable housing starts in England fell by almost two fifths (39%) in the same period, from 71,771 in 2022-23 to 43,439 in 2023-24.   Mohammed Parekh, founder and managing director at MRP Premier Group, comments: “This data from the Ministry of Housing, Communities and Local Government is a stark reminder of the challenges facing the affordable housing sector, especially in London. Several market factors are slowing down the delivery of much-needed affordable housing.   With construction costs still being expensive compared to before and finance costs and land values both still high, the viability of affordable housing schemes is still causing major issues for both the private and public sector."   You can read the full article from Ciaran Nerval in Property Week below https://lnkd.in/emXSxb_K 

🏗️ Meeting Demand: Challenges and Opportunities for Perth’s Construction Sector Perth’s construction sector is under pressure as rising land prices, population growth, and development barriers strain the industry. Here’s what’s driving these challenges and how developers and government can respond: 🔹 Population Growth and Land Prices Perth’s affordable housing and better job opportunities are attracting interstate migrants, pushing urban sprawl north and south of the city. With land costs now averaging $305,177 per block, lot sizes are shrinking to increase density, and new developments are being planned around transport routes and retail hubs. 🔹 Lifestyle-Driven Apartment Living Unlike Sydney and Melbourne, Perth’s shift to apartment living is more about lifestyle than affordability. Developers are focusing on quality over quantity, offering spacious, well-designed apartments rather than cramming for higher yields. 🔹 Government Red Tape and Development Barriers Developers face delays due to complex government regulations. There is still uncertainty around the government’s vision—whether to focus on expanding suburbs with new infrastructure or increasing density through infill development around transport hubs. Developers need clear direction to align their projects with the state’s future housing strategy. 🔹 Rising Construction Costs and Labor Shortages Perth’s infrastructure boom has driven up construction costs and created labor shortages, making it difficult for developers to meet demand. Violanti suggests more incentives for build-to-rent projects, as these could attract long-term investment from superannuation funds, helping to relieve pressure on the housing market. 🔹 The Path Forward To meet housing demand, the WA government must act decisively, removing planning roadblocks and clearly outlining its strategy. Whether through new infrastructure or urban consolidation, the goal is to empower developers and align efforts for future growth. Without bold action, the industry risks falling short of housing targets, leaving St Georges Terrace and other areas underutilized after hours. #PerthProperty #ConstructionSector #HousingSupply #RealEstateUpdate #GovernmentPolicy #MarketInsights

Gove intervenes in London Plan Michael Gove, the Secretary of State for Levelling Up, Housing and Communities (DLUHC), has issued a directive to London Mayor Sadiq Khan, urging a review of the London Plan's housing policies, which Gove believes are impeding the construction of new homes in the capital. The directive specifically targets policies related to the use of industrial land and 'opportunity areas', designated for significant housing development. In his letter, Gove points out that there are 736 hectares of industrial land that could be redeveloped for housing but are currently stalled in the planning system. He criticises the existing policies as being too rigid, discouraging developers from pursuing industrial intensification, co-location, and substitution, and demands a review to enhance flexibility and growth in these areas. Gove's call for action is part of a broader effort to address what he perceives as a chronic under delivery of new homes in London, citing the need for a reassessment of the London Plan to meet housing demands. Gove has also announced the provision of specialist planning support from DLUHC's new 'Super Squad' of planners to assist in unlocking major developments in Greenwich and Newham, potentially unblocking over 7,000 homes. Gove emphasises the importance of collaboration between the Greater London Authority, local councils, and the housing sector to kickstart housing projects. In response, a spokesperson for London Labour defends Mayor Khan's record, asserting that housing completions in London have reached their highest level since the 1930s under his tenure, outpacing the rest of the country and highlighting the government's failure to address housing issues nationally. What do you think about Gove’s intervention? Is it warranted? Or has Khan done enough to promote new development in London? Read the Government's press release here: https://lnkd.in/efQPB7sd BIAC (The British Institute of Agricultural Consultants) Home Builders Federation Land, Planning and Development Federation Homes England Natural England POS (Planning Officers Society) 🏳️🌈 Urban Design Learning Royal Town Planning Institute Landscape Institute The Institute Of Historic Building Conservation CPRE The countryside charity Locality Theatres Trust Town and Country Planning Association (TCPA)

A recent study by Canada’s national housing agency highlights a concerning trend: housing starts are not aligning with the resources available for residential construction. The industry is facing challenges due to restrictive regulations and its "highly fragmented" nature. Mathieu Laberge, CMHC's senior vice-president of housing economics and insights, emphasizes that Canada has the potential to build over 400,000 homes annually. This figure starkly contrasts with the 240,267 housing starts recorded last year. The discrepancy underscores the need for strategic interventions to bridge this gap and address the housing supply shortage effectively. #HousingMarket #ConstructionIndustry #CanadaEconomy

The Australian Financial Review has reported on the matter of housing under supply, which has been a broader community issue for some time, particularly when it comes to housing affordability. Despite this, the government isn't taking any action to solve the problem. Developers are facing numerous challenges, including skyrocketing labor costs (especially as trades are tied up on government infrastructure programs), increasing taxes and holding costs, and a lack of incentive for anyone to purchase off the plan. With Australia's growth story contingent on an increasing population, how are we going to house all these people? It seems we are no closer to solving the issue of housing affordability. What do you think needs to change? Share your thoughts in the comments below. #construction #populationgrowth #financialindependence

Australia's housing crisis requires urgent solutions. While prefabrication construction has been proposed as a fix, it's not without its challenges, let alone trucking the half houses along busy roads and the chaos that follows as special escorted requirements exist to clear traffic off the road with the approaching truck loaded with half a dwelling because of road traffic laws across Australia. In Australia, prefabrication construction is essentially a cottage industry, making it challenging to meet the staggering shortfall of over 1 million affordable and social dwellings required now, not to mention the additional 300,000 to 400,000 needed in the next 3 to 5 years. Transporting prefabricated homes across the country presents logistical issues, with half a dwelling requiring police or specialist services to warn oncoming traffic. Infill residential mid-rise apartments on surplus public land may be a more viable solution. Emulating London's policy of setting aside up to 50% of surplus land for affordable housing could be the answer. Additionally, a mandatory 30% affordable housing requirement in rezoned areas near public transport infrastructure could provide an immediate value capture. It's time for an inclusive policy setting that addresses Australia's housing crisis with urgency and social responsibility. The answer is scalable Cross Laminated Timber (CLT) in advanced modular construction platforms, which can be trucked to building sites in shipping containers with their own cranes on board and then assembled on site like "Lego" generally saves up to 75% in time, over slow inefficient custom construction, offering "Speed to Market." #advancedmodular #CLT #housingcrisis #sustainability

Canada’s housing crisis is front and center in the construction industry. With rising property values, limited affordable housing options, and growing urban populations, #construction firms are under pressure to build more—and build faster. A report from the Canadian Real Estate Association (CREA) shows that home prices have increased by 20-30% in major cities over the last five years, putting homeownership out of reach for many Canadians. But there are significant barriers to solving this issue: 1️⃣ High construction costs: Material and labor shortages are inflating construction costs, making it difficult to build affordable housing while maintaining profit margins. 2️⃣ Zoning and regulatory issues: Municipal zoning laws and permit processes slow down the approval of new housing developments. 3️⃣ Land scarcity: In cities like Toronto and Vancouver, land for new developments is scarce and incredibly expensive. While the industry can't solve the housing crisis alone, there are strategies to help: 🏠Modular and prefabricated housing: These techniques reduce build times and costs, providing a potential solution for affordable housing. 💼Public-private partnerships: Collaborating with governments to streamline regulations and access affordable housing grants can accelerate project timelines. 💚Sustainability: Green building practices can reduce long-term costs, making homes more affordable to maintain. How can we, as an industry, help alleviate Canada’s housing crisis? Would love to hear your thoughts. #AffordableHousing #HousingCrisis