Majority Of Renters 'Seriously' Consider Leaving GTA: Housing Affordability Worsening [POLL]

housing (Photo courtesy of fumigene via Flickr.com)

The rent is just too damn high. And so is the cost of owning a home in the Greater Toronto Area. In fact, the affordable housing situation in the GTA is worsening according to renters and homeowners.

READ: Will Justin Trudeau Include A Housing Strategy For Renters In His Campaign?

A new Angus Reid Institute poll finds about 59 per cent of renters are “seriously” considering leaving the GTA given the high cost of owning a home.

Renters aren't alone. Of the 831 GTA residents surveyed, a total of 47 per cent are “seriously thinking of leaving the GTA” due to housing prices.

One-third of non-homeowners say they would like to buy a home right now — but just can't afford it.

And more than two-thirds of GTA residents think the government needs to further intervene in the housing market in order to improve housing affordability.

READ: Toronto Vs. The Top Rental Real Estate Markets In The World

Respondents “overwhelmingly” support of a foreign buyers’ tax in Ontario and a tax on vacant homes to help with the affordable housing crisis.

The survey's analysis states that “Among residents under age 35, fully six-in-ten are hoping the market cools off at least slightly, though it’s notable that nearly a quarter of those ages 55-plus – perhaps reflecting concern for children or grandchildren who are currently priced out of the market – say the same.”

READ: Toronto’s 35 Neighbourhoods: Where Is It Cheaper To Rent Or Own A Condo?

Ultimately, the poll finds that both homeowners and renters agree that the price of real estate in the Greater Toronto Area is “unreasonably high,” and that it may be too late for government intervention to burst the bubble they say is hurting the region.

both homeowners and renters agree that the price of real estate in the Greater Toronto Area is unreasonably high Source: AngusReid.org

READ: Doug Ford Promised Ontario This Housing ‘Plan’ Pre-Election: What Will Become Of It?

Renting

Majority Of Renters 'Seriously' Consider Leaving GTA: Housing Affordability Worsening [POLL]

READ: Will Justin Trudeau Include A Housing Strategy For Renters In His Campaign?

READ: Toronto Vs. The Top Rental Real Estate Markets In The World

READ: Toronto’s 35 Neighbourhoods: Where Is It Cheaper To Rent Or Own A Condo?

READ: Doug Ford Promised Ontario This Housing ‘Plan’ Pre-Election: What Will Become Of It?

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Most shopping centres, grocery stores, and pharmacies will remain open, but it's always a good idea to check with individual stores for their hours.

The City of Surrey is providing as-of-right zoning for non-market rental housing projects up to six storeys as part of its Housing Accelerator Fund action plan.

The Ritz-Carlton Toronto at 181 Wellington Street W was developed by Cadillac Fairview and Graywood Developments, whom CF later bought out.

Toronto’s Deputy City Manager of Development and Growth Services, Jag Sharma, talks to STOREYS about the newly-launched Housing Development Office and its place in the greater structure of the City.

Chard Development acquired the 1045 Haro Street site in Vancouver after it was placed under receivership in January 2024.