Affordability Has Worsened Due to Municipal Development Charges and Delays: CHBA
AI Article Summary
The Canadian Homebuilders’ Association (CHBA) released its 2024 Municipal Benchmarking Study, analyzing how municipal development charges and delays impact housing affordability and supply in Canada. The study found significant dispersion in municipal efficiency, with increased fees and delayed processes contributing to a housing affordability crisis, particularly in major urban centers like Toronto and Vancouver. The report also highlighted the negative impacts of high fees and inefficient processes on housing outcomes, as well as the need for policy and procedural improvements to address the growing housing demand and affordability issues. The study showed that cities like Edmonton, Halifax, and London perform better in terms of efficiency and affordability compared to other municipalities studied, especially in Ontario and British Columbia.