Over a quarter of Waterloo Region residents considering moving to more affordable location: WRAR
Many Waterloo Region residents are considering moving to a more affordable location, according to a new poll conducted by Waterloo Region Association of Realtors (WRAR).
The poll found that 28 per cent of residents are considering moving with 38 per cent saying they live in housing that is unaffordable.
Almost four in 10 Waterloo residents are spending more than 30 per cent of their total income on housing, according to WRAR.
The association said the high cost of housing is driven by the lack of affordable housing supply in Waterloo Region.
“The problem is particularly bad among millennials and young people,” said Megan Bell, president of WRAR.
According to the poll, millennials were the most likely age group to be spending over 30 per cent of their household income on housing.
Bell said the solution needs to come fast – as the tech market continues to grow locally.
“If we don’t get to work building more homes, Waterloo will struggle to compete against other technology hubs in attracting top-tier talent. Building more affordable homes is not just about meeting the needs of growing families or downsizing seniors, it’s also about the long-term economic success of local communities,” Bell said.
The association said more than half of the new homes being built in the region are apartments but the poll shows residents strongly prefer more spacious single-detached homes.
“There is a strong disconnect right now in Waterloo between what home buyers are looking for and the new supply coming to the market,” said Bell. “Waterloo has to do a better job of encouraging the building of a greater array of affordable housing options.”
More than 60 per cent of those surveyed support the building of what they call ‘middle housing’ in Waterloo Region – housing that can provide most of the features of single-detached housing, if well designed.
“Growth does not have to be a debate between building single-detached homes and high-rise apartments. Elected officials must turn their attention to policies that will make it easier to build semi-detached, row, duplex, triplex and fourplex style housing,” said Bell.
ACTION PLAN
WRAR suggested several things that they think the Waterloo Regional Council and local councils should consider. The association suggests rolling back “exclusionary zoning” – to allow for different styles of homes like row, duplex, triplex and fourplex style housing.
They also suggest reducing parking minimums to make more space for more homes.
CTVNews.ca Top Stories
opinion Tom Mulcair: Prime Minister Justin Trudeau's train wreck of a final act
In his latest column for CTVNews.ca, former NDP leader and political analyst Tom Mulcair puts a spotlight on the 'spectacular failure' of Prime Minister Justin Trudeau's final act on the political stage.
B.C. mayor gets calls from across Canada about 'crazy' plan to recruit doctors
A British Columbia community's "out-of-the-box" plan to ease its family doctor shortage by hiring physicians as city employees is sparking interest from across Canada, says Colwood Mayor Doug Kobayashi.
'There’s no support': Domestic abuse survivor shares difficulties leaving her relationship
An Edmonton woman who tried to flee an abusive relationship ended up back where she started in part due to a lack of shelter space.
opinion King Charles' Christmas: Who's in and who's out this year?
Christmas 2024 is set to be a Christmas like no other for the Royal Family, says royal commentator Afua Hagan. King Charles III has initiated the most important and significant transformation of royal Christmas celebrations in decades.
Baseball Hall of Famer Rickey Henderson dead at 65, reports say
Rickey Henderson, a Baseball Hall of Famer and Major League Baseball’s all-time stolen bases leader, is dead at 65, according to multiple reports.
Arizona third-grader saves choking friend
An Arizona third-grader is being recognized by his local fire department after saving a friend from choking.
Germans mourn the 5 killed and 200 injured in the apparent attack on a Christmas market
Germans on Saturday mourned the victims of an apparent attack in which authorities say a doctor drove into a busy outdoor Christmas market, killing five people, injuring 200 others and shaking the public’s sense of security at what would otherwise be a time of joy.
Blake Lively accuses 'It Ends With Us' director Justin Baldoni of harassment and smear campaign
Blake Lively has accused her 'It Ends With Us' director and co-star Justin Baldoni of sexual harassment on the set of the movie and a subsequent effort to “destroy' her reputation in a legal complaint.
Oysters distributed in B.C., Alberta, Ontario recalled for norovirus contamination
The Canadian Food Inspection Agency has issued a recall due to possible norovirus contamination of certain oysters distributed in British Columbia, Alberta and Ontario.