Loan Digest

CMHC report: Government fees crippling housing construction - constructconnect.com - Daily Commercial News

  • 📰 DCN_Canada
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 74%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

According to a new CMHC_ca report government fees are crippling housing construction.

PROVINCE OF B.C. — Crews work on a housing project in B.C. A new report shows that Metro Vancouver has some of the highest government fees for developers trying to build housing.

Researchers were assisted by Altus Group in finding out government costs for single-detached homes, row homes, low-rise condos, low-rise rental apartments, highrise condos and highrise rental apartments. For actual dollar amounts, the City of Toronto generally has the highest government charges as a portion of total construction costs. According to the study, government fees impact the cost of construction by as much as 24 per cent. In Vancouver, various charges account for seven to 20 per cent of construction costs.

Once a subdivision agreement is registered, the single detached home tends to be the housing type subject to the lowest government fees.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 17. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CMHC expects 5% decline in home prices by 2023 if interest rates spikeCanada Mortgage and Housing Corporation looks at how aggressive and moderate rate\u002Dhike paths will affect the housing market. Read more
Source: fpinvesting - 🏆 43. / 63 Read more »

Two Scenarios, One Recession: CMHC Predicts Economic Downturn as Rates RiseIn a new update, Chief Economist at Canada Mortgage and Housing Corporation Bob Dugan hashes out two interest rate scenarios.
Source: storeyspub - 🏆 16. / 74 Read more »

CMHC sees chance of a recession by end of year as rates rise - BNN Bloomberg​Canada’s national housing agency sees a chance the country will enter a recession by the end of the year as the central bank hikes interest rates to control inflation. That’s a certainty, especially for anyone that bought an overpriced house during the last 5-10 yrs Lots did - especially in TO/Van A mild recession way better than a major crash
Source: BNNBloomberg - 🏆 83. / 50 Read more »