The authors rightly point out the opportunity and constraints to the federal land strategy. However... dedicated land is only a small part of the equation. The line: "Cheap land reduces construction costs, and by controlling what kind of housing is built in an expensive market, the government hopes to spur projects that create more homes for low- and middle-income Canadians" is misleading and confusing - a problem that is all too common in the housing debate. Never mind the fact that this strategy was promised in the 2015 election campaign, it's not clear what they mean by "cheap" land - sold/leased below market? How does that impact the federal balance sheet? To truly create conditions appropriate to facilitate projects that will impact the current crisis, several things need to happen. To name a few: 1. Rapid, pre-approved permitting schemes 2. Massive influx of skilled labour such that all verticals of construction sector have the means to spur new companies and create competition (thereby keeping prices flat) 3. Project economics suitable for financing that support the risk of large capital projects. 4. Infrastructure investment to support the community and not place burden on future development (further exacerbating the load on the private sector via expanded DCCs). #yvrrealestate #yyzrealestate #VancouverRealEstate #TorontoRealEstate #CommercialRealEstate #OfficeSpace #IndustrialProperty #MultifamilyInvestments #affordablehousing #CRECanada #InvestmentOpportunities #PropertyInvestment #RealEstateInvesting #UrbanDevelopment #CommercialProperty #RealEstateROI #CREVancouver #CREToronto #AssetManagement #RealEstateTrends #RealEstateFinance #CommercialLeasing #theglobeandmail
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Infrastructure Victoria has called for developer charges to apply to projects across Melbourne and not just the urban fringes. We need a clear, efficient and transparent infrastructure contribution system that better reflects the true cost of infrastructure in different development settings and supports better use of existing infrastructure. So it's encouraging to see moves announced today for a new charge to fund schools, parks and public transport with the state government set to trial the fee in the first 10 of its so-called activity centres, as it considers a universal model for all areas where new housing is built. Analysis commissioned by Infrastructure Victoria shows the state spends about $50,000 on local infrastructure for every new growth-area home. However, the current Growth Areas Infrastructure Contribution levy claws back just $6100 per dwelling, leaving taxpayers to foot the rest of the bill. Contributions from this scheme are only collected from developments in the local government areas of Cardinia, Casey, Hume, Melton, Mitchell, Whittlesea and Wyndham and only available for projects in these municipalities. 'Our Home Choices' from Infrastructure Victoria explains how getting infrastructure contributions right across all development settings can help provide the infrastructure growing communities need - https://lnkd.in/eeaNi4rb Kieran Rooney, Adam Carey and Annika Smethurst report on the proposed infrastructure contribution reforms in The Age today - https://lnkd.in/gTwyQKvf #infrastructure #development #contributions #housing #choices #reform #evidence #policy
Developers to cop new charge as experts warn apartment prices ‘must rise’ for towers to soar
theage.com.au
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The recent revelation that Ontario's housing supply has been overstated by almost 1 million units brings both opportunities and challenges to the forefront. Let's break it down: Good: 1. Accurate Data: The study provides stakeholders with precise information to make informed decisions for future housing developments. 2. Debunking Misconceptions: Clarity on the actual availability of lots dispels the myth that the construction industry is "sitting on supply.” 3. Highlighting Real Challenges: Identifying discrepancies sheds light on crucial challenges like land availability and approval processes for sustainable development. Bad: 1. Shortage of Lots: The gap between reported and actual available lots signals a shortage that could impact housing affordability. 2. Backlog in Approvals: A significant backlog in approved units may lead to delays in meeting the housing demand. 3. Data Collection Inconsistencies: The study underscores the importance of uniform data collection practices to avoid overestimations. This news underscores the need for strategic planning and improved data practices to ensure sustainable housing development in Ontario. Let's collaborate to address these challenges and build a more resilient housing market! #OntarioHousing #RealEstate #SustainableDevelopment
Ontario housing supply overstated by almost 1 million, land development study reveals
financialpost.com
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🏡 Real estate development News in Ontario! 🏡 🚫 Developers Deny Holding Up Housing Construction 🚫 Recent claims that developers are hindering new home construction in Ontario have sparked a debate within the industry. A new report commissioned by the Ontario Home Builders' Association and the Building Industry and Land Development Association (BILD) aims to dispel the myth that developers are sitting on approved land, slowing down the supply. 📈 Key Findings: Residential construction in Ontario is at a 33-year high. 164,000 housing units are currently under construction, the highest since 1990. Developers and builders are operating at or close to maximum capacity. 🤔 Debunking the Myth: The report challenges the perception that the industry is not operating at its full potential and highlights that developers are actively working on projects. The focus shifts to addressing the underlying issues affecting housing construction, such as approvals, skilled labor, funding for affordable housing, and NIMBY opposition. 🏗️ What's Next? The industry calls for a shift in the narrative and urges a closer examination of the reasons behind delays. Instead of penalizing developers, the report suggests understanding the challenges developers face in bringing approved projects to fruition. 🔍 Ongoing Debate: The debate over factors affecting housing construction continues, with various players attributing the slowdown to land supply, interest rates, skilled labor shortages, slow approvals, infrastructure challenges, development charges, and community resistance to higher density. 🏠 Building Ontario's Future: As Ontario strives to meet housing targets, the industry emphasizes the need for collaboration between developers, municipalities, and the provincial government to address the root causes and accelerate the pace of construction. Stay tuned for more updates on Ontario's evolving real estate landscape! YEDA HOMES INC. 📞 905-881-8818 📧 [email protected] 📍160 East Beaver Creek RD, Unit #15, Richmond Hill, ON, L4B 3L4 #OntarioRealEstate #HousingConstruction #RealEstateDevelopment #YEDAHomes #OREAReport #HomeownershipInOntario #YedaHomesInvestments #canadianrealestate #realestate #investments #realestateinvesting #torontorealestate #torontorealestateteam #richmondhill #commercialrealestate #residentialrealestate
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A new report from the Building Industry and Land Development Association (BILD) reveals many key municipalities surrounding the Greater Toronto Area have made at least some improvements in approval wait times for residential development projects. #development #investmentrealestate #investor
Shorter wait times for development approvals in GTA: BILD
renx.ca
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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
Homes crisis answer requires a factory mentality
https://www.theaustralian.com.au
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The Kāinga Ora project raises important questions about the efficiency of government spending in housing. While the goal is commendable, I believe the private sector could deliver these projects more efficiently, with better accountability and results. Instead of focusing on direct builds, the government could empower private builders, support home buyers with smarter policies, and invest in infrastructure. This would ensure housing affordability without the risk of wasted resources. It’s time to rethink how we approach housing solutions for the long term. https://lnkd.in/g26WrNeB
$1.2m per apartment: New Kāinga Ora build part of billion dollar scandal, developer says
nzherald.co.nz
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While the headline is certainly flattering, we still have immense challenges, from the cost of land to the shortage of labour; from the insane cost of materials to high interest rates. My conversations with builders have me genuinely concerned that many of the projects City Council has approved simply won’t get built. In fact, I would not be surprised if some large development and construction companies go out of business this year. Things will likely remain dire until interest rates go down. A reminder once again that housing approvals does *not* equal housing starts, and local governments have only limited influence over actual construction. https://lnkd.in/gYdQDaBb
Victoria only city so far to pass B.C. home-building target
timescolonist.com
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Australia needs family homes - a lot of them. This article by Peter Mares raises the concept of our missing middle, which is not a new topic. For a lot of precinct planning that Hadron has involved in, what is often missing is an integrated approach. Land needs to have zoning that is commercially feasible and attractive to redevelop/develop, essential infrastructure needs to be in place, there should be provision for green space and communitiy infrastructure, there should be connecivity, and planning systems need to be easy to navigate. #housing #construction #Australia
Australian cities are desperate for the ‘missing middle’ of housing density. But it’s not as simple as the nimby-yimby debate suggests | Peter Mares
theguardian.com
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Blaming these high costs on cost of construction is disingenuous. A recent report by Centre for International Economics demonstrated that tax (contributions, duties, and levies) and red tape constitiuted 50 percent of the price of an average new dwelling in Sydney compared to 37 percent in Melbourne, 33 percent in Perth, 32 percent in Brisbane and 29 percent in Adelaide. For a $1 Million home in Sydney $508,000 was tax to local and state governments. The ones who have benefited the most (without taking much risk) out of the housing boom is the government (at all levels). An earlier research project by the Urban Taskforce found that some Sydney councils require up to 27 reports for a development application for a simple house. Typically, there are 81 separate reports required for residential DA's across all of the Sydney councils. I am not saying that these reports should not be required, I believe if a streamlined on stop shop process is deployed which enforces time limits to have an application approved within 6 months of submission - it will take out a lot of heat from the upfront requirements. For this the councils and Department of Planning and Environment need to hire more qualified planners who assess applications with a view to approve. Plus, the lengthy application approval times add to the holding costs for developers which eat into construction budgets, and diminish the product features for end buyers.
High costs to delay housing supply until end of decade: AFR survey
afr.com
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Housing construction starts in Australia came in at record lows in 2023/24. But there are some better signs on the horizon as conditions are expected to improve in coming years. #construction #housing #property #realestate https://lnkd.in/g5d4aaRC
Australia’s Annual Housing Commencements Hit 12 Year Lows
https://sourceable.net
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