The City of Toronto will be voting Tuesday (June 26) on two proposals which could help ease the supply issues that continue to impact the housing market.
One would create an all-encompassing Housing Committee; the other would lead to permitting, regulating and setting guidelines for laneway suites.
Toronto Real Estate Board says that if the proposals are adopted by the council it could have a positive impact on housing for all Torontonians; the board has applauded both initiatives.
"TREB strongly believes that the supply of affordable housing and long-term rental stock in Toronto must be a priority for City Council and that all options should be considered, including laneway housing," said TREB CEO John DiMichele.
While the proposals have been given the green light by separate committees, they will require a majority vote from the City Council when they meet Tuesday.
TREB says that if they are passed, the two proposals will help ensure that supply and other housing issues are given the attention they require and the Board is urging the council to pass them.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate