Item - 2019.PH2.5

The Planning and Housing Committee recommends that:

1.  City Council forward the Toronto Housing Market Analysis report (February 5, 2019) from the Director, Affordable Housing Office to the Provincial and Federal governments.

The Planning and Housing Committee:

1. Requested the Director, Affordable Housing Office to share the results of the Housing Market Analysis with the public and housing stakeholders as part of the current consultation process on the City's Housing Plan 2020-2030.

2.  Requested the Director, Affordable Housing Office, in consultation with the Chief Planner and Executive Director, City Planning, to include in the Housing Plan 2020-2030 key indicators including benchmarks and evaluation criteria for these indicators to help inform City Council decision-making on housing need and investment. 

3. Directed the Director, Affordable Housing Office to work with the People, Equity and Human Rights Division and other appropriate stakeholders to ensure that the City’s Housing Plan 2020-2030 be developed utilizing an intersectional gender equity lens.

4.  Directed the Director, Affordable Housing Office to report back on their consultation plan at the March 20, 2019 meeting of the Planning and Housing Committee.

5.  Requested the Director, Affordable Housing Office in consultation with other divisions to provide an annual update to the Planning and Housing Committee on key housing indicators including those resulting from the "Toronto Housing Market Analysis".

6.  Requested the Director, Affordable Housing Office to include benchmarking and evaluation criteria for the key housing indicators in the annual report back identified in Part 5 above.

Paul Smetanin, President, Canadian Center for Economic Analysis and Jeff Evenson, Director, Canadian Urban Institute gave a presentation on Toronto Housing Market Analysis: Insight to Action.

This report provides the results of an independent study prepared by the Canadian Centre for Economic Analysis and Canadian Urban Institute, “Housing Market Analysis: From Insight to Action” (the Study). The Study is attached as Appendix 1.

The Study provides insight into Toronto’s housing market and the considerable housing challenges that residents face under current and projected conditions. It includes a range of housing data and some 20 key housing indicators across the housing spectrum, from homelessness to rental housing to home ownership.

The Study provides a unique look at past trends, present and future housing demand and the need for the City to be ready to address the pressures of accelerated population growth over the next 20 years. During this timeframe it is predicted that vulnerable groups and low- and moderate-income households will experience increased difficulty accessing suitable and affordable housing.

In light of its key findings, the Study recommends actions be taken to provide improved pathways for residents through the housing continuum; to address “housing inequity” as experienced by vulnerable populations; to provide more supply of market and affordable rental housing; and for the City to collect better data to inform future policies and programs.

This staff report outlines recommendations for sharing the study findings with the public as part of the City’s current consultations on the City’s Housing Plan 2020-2030, and requesting City staff to provide annual updates on key housing statistical indicators.