Latest news with #RichardLyall
Yahoo
27-05-2025
- Business
- Yahoo
RESCON pleased that measures to spur new housing reiterated in Throne Speech
Vaughan, Ont., May 27, 2025 (GLOBE NEWSWIRE) -- The Residential Construction Council of Ontario (RESCON) is pleased that the throne speech delivered today by King Charles III reiterated the government's commitment to building more housing and cutting the GST on new homes at or under $1 million for first-time buyers as well as pledging to reduce it on homes between $1 and $1.5 million. 'The tax burden on new housing is one of the critical factors that are stymieing new construction and driving up the cost of new housing,' says RESCON president Richard Lyall. 'Removing the federal sales tax on new homes at or under $1 million and reducing it for homes between $1 and $1.5 million is a step forward and we commend the government for its action.' While the federal government has ruled out a full budget before the House of Commons rises June 17, we would hope that the proposed GST changes could be implemented before the session concludes. Housing starts were down 38 per cent in the first quarter of this year in Ontario, compared to the same period in 2024. In Toronto, starts in the first quarter were down 58 per cent from the same period in 2024. Should a GST change not be implemented before Parliament adjourns for the summer it will have a substantial impact on potential new home purchases over the summer and into the fall. The speech also reiterated that the government is committed to investing in modular housing, providing financing to affordable homebuilders, and doubling the rate of homebuilding using Canadian technology, skilled workers and lumber, as well as cutting development charges in half for multi-unit housing. 'We look forward to working with the federal government to tackle the housing supply crisis and making homes more affordable for Canadians,' adds Lyall. 'The high tax burden and lengthy approvals processes hamper the ability of residential developers and builders to build new housing. We must prioritize lowering costs to make homes more affordable for Canadians.' RESCON is the province's leading association of residential builders committed to providing leadership and fostering innovation in the industry. CONTACT: Grant Cameron RESCON 905-638-1706 cameron@ in to access your portfolio
Hamilton Spectator
12-05-2025
- Business
- Hamilton Spectator
Builders say Ontario government legislation will spur new home building
Vaughan, Ont., May 12, 2025 (GLOBE NEWSWIRE) — The Residential Construction Council of Ontario (RESCON) commends the Ford government for introducing legislation that will cut red tape, streamline approvals and tackle other issues that add to the cost of a new home, as it will spur more building. 'In light of the dire housing supply and affordability crisis that we are facing, the proposed legislative changes are critical to eliminating hurdles and reducing costs so that the residential construction industry can get back on track and build the housing that Ontario needs,' says RESCON president Richard Lyall. 'Today's announcement aligns with many of the priorities identified by RESCON over the past two years to support residential housing construction and new home building. The actions undertaken by the government are vital to this effort.' Specifically, RESCON is pleased that the legislation aims to standardize development charges (DCs) levied by municipalities to pay for infrastructure that supports new developments. For years, RESCON has been calling on municipalities to work to reduce the impact of these charges, as they raise the price tag of a home and are ultimately paid by consumers. The bill would also allow developers to remit DC payments at the point of occupancy instead of much earlier in the planning approvals process. The legislation would also give the provincial government a direct say in the development approvals process and place limits on how many studies a municipality could request from a home builder. Meanwhile, the bill would allow the minister of infrastructure to issue MZOs and exempt transit-oriented communities from zoning and planning rules governed by local towns and cities. The provincial government also announced other significant changes such as increasing its investment in housing-enabling infrastructure by adding $400 million in immediate funding to the Housing-Enabling Water Systems Fund and the Municipal Housing Infrastructure Fund. Ontario is struggling to meet its goal of building 1.5 million homes by 2031. The glacial planning approvals process and exorbitant tax burdens are major causes. A report done by the Canadian Centre for Economic Analysis revealed that the tax and fee burden in Ontario averages almost 36 per cent of the purchase price of a new home – up from 31 per cent three years earlier. Hikes in development charges accounted for a big chunk of that increase. Young adults are leaving Ontario because they can't find affordable homes. According to latest statistics, 8,094 young people left Ontario in 2024 while Alberta gained 18,413. Ontario, which used to lead net gains for workers, has held the title of biggest loser for four consecutive years. 'At a time when there are so many challenges facing the residential construction industry, these changes are necessary and essential as they will simplify the approvals process and make the homebuilding process more efficient,' says Lyall. 'The housing affordability and supply crisis is the most intense challenge facing the homebuilding sector in decades and nothing short of significant and collaborative effort can assist in turning this situation around. Today's announcement was a major step towards implementing the required solutions.' RESCON is the province's leading association of residential builders committed to providing leadership and fostering innovation in the industry.
Yahoo
12-05-2025
- Business
- Yahoo
Builders say Ontario government legislation will spur new home building
Vaughan, Ont., May 12, 2025 (GLOBE NEWSWIRE) -- The Residential Construction Council of Ontario (RESCON) commends the Ford government for introducing legislation that will cut red tape, streamline approvals and tackle other issues that add to the cost of a new home, as it will spur more building. 'In light of the dire housing supply and affordability crisis that we are facing, the proposed legislative changes are critical to eliminating hurdles and reducing costs so that the residential construction industry can get back on track and build the housing that Ontario needs,' says RESCON president Richard Lyall. 'Today's announcement aligns with many of the priorities identified by RESCON over the past two years to support residential housing construction and new home building. The actions undertaken by the government are vital to this effort.' Specifically, RESCON is pleased that the legislation aims to standardize development charges (DCs) levied by municipalities to pay for infrastructure that supports new developments. For years, RESCON has been calling on municipalities to work to reduce the impact of these charges, as they raise the price tag of a home and are ultimately paid by consumers. The bill would also allow developers to remit DC payments at the point of occupancy instead of much earlier in the planning approvals process. The legislation would also give the provincial government a direct say in the development approvals process and place limits on how many studies a municipality could request from a home builder. Meanwhile, the bill would allow the minister of infrastructure to issue MZOs and exempt transit-oriented communities from zoning and planning rules governed by local towns and cities. The provincial government also announced other significant changes such as increasing its investment in housing-enabling infrastructure by adding $400 million in immediate funding to the Housing-Enabling Water Systems Fund and the Municipal Housing Infrastructure Fund. Ontario is struggling to meet its goal of building 1.5 million homes by 2031. The glacial planning approvals process and exorbitant tax burdens are major causes. A report done by the Canadian Centre for Economic Analysis revealed that the tax and fee burden in Ontario averages almost 36 per cent of the purchase price of a new home – up from 31 per cent three years earlier. Hikes in development charges accounted for a big chunk of that increase. Young adults are leaving Ontario because they can't find affordable homes. According to latest statistics, 8,094 young people left Ontario in 2024 while Alberta gained 18,413. Ontario, which used to lead net gains for workers, has held the title of biggest loser for four consecutive years. 'At a time when there are so many challenges facing the residential construction industry, these changes are necessary and essential as they will simplify the approvals process and make the homebuilding process more efficient,' says Lyall. 'The housing affordability and supply crisis is the most intense challenge facing the homebuilding sector in decades and nothing short of significant and collaborative effort can assist in turning this situation around. Today's announcement was a major step towards implementing the required solutions.' RESCON is the province's leading association of residential builders committed to providing leadership and fostering innovation in the industry. CONTACT: Grant Cameron RESCON 905-638-1706 cameron@
