Toronto's real estate market is facing challenges due to high building costs and a surplus of available units. The average home price in the GTA reached $1,135,215 in September, prompting concerns among residents about housing affordability. In response, municipal leaders in Vaughan have approved significant cuts to development charges, reducing fees for low-rise residential projects from $94,466 to $50,193. This aims to encourage construction and address the housing crisis, with hopes that other municipalities will follow suit.
Continue to full article
Leave a Reply