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RSS FeedsFewer housing options have Torontonians moving less, report says
(The Star Golf)

 
 

23 july 2019 10:16:35

 
Fewer housing options have Torontonians moving less, report says
(The Star Golf)
 


Canadians are moving less than they did a decade ago with the Toronto area experiencing the most dramatic decline in mobility, according to a new study that shows a 6.3 per cent drop in changes of address between 2006 and 2016.The finding, based on Census data, shows Calgary and Vancouver experienced a 5.7 per cent and a 3.8 per cent reduction in moves, respectively, followed by Ottawa, Montreal and Edmonton. Although tenants are typically more mobile than homeowners, and are also moving less often, owners rather than renters showed the greatest change in moving habits, according to a “rudimentary” study by the Ryerson University Centre for Urban Research and Land Development (CUR).There was a 7.6 per cent drop in moves among Toronto-area homeowners, compared to 3.9 per cent fewer moves among tenants. People are staying in their homes longer due to the shortage of new detached, semi-detached and town homes, says the study’s co-author Frank Clayton, who wrote the report with research fellow John Clinkard.“In the last decade compared with the early 2000s we were building a lot more low-density housing, particularly single-detached housing. In 2002 we built 22,000 units and in 2016, the peak in the last 10 years, we built 11,000 units,” Clayton said.Read more: Toronto house prices are on the rise — againHow much do you need to earn to afford rent in your neighbourhood? Study breaks it down by hourly wageHow desirable is your house? In these 50 Toronto neighbourhoods, they sell significantly over askingBecause new homes are usually more expensive — including rentals — many buyers who might have chosen to upgrade have instead chosen to renovate. That, in turn, adds to the value of those properties.“That’s quite a fundamental factor that helps explain the decline in mobility rates because it just blocks everybody up all the way back,” he said. Although the decline in moving appeared evenly distributed a ...


 
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