Buyers in Canada in connection with the regulation of prices in the real estate market suffer the most. The average family in the period from 2007 to 2016 had to pay an extra $229,000. A new study has shown that this is due to the fact that the rules for the property market to prevent building homes.
The study was conducted by the C. D. Howe Institute. It is pointed out that the rules of zoning, the fee for the improvement, gathering of developers and housing restrictions in and around Ontario added to the cost of a private home $168,000 in the greater Toronto and approximately $644,000 in Vancouver.
The Institute’s study also showed that the growth of prices because of this is observed throughout the country. For example, in Victoria they have increased by approximately $264,000 in calgary – at $152,000, and in Ottawa for $112,000.
According to the researchers, the amounts differ due to the difference in the infrastructure of cities. Prices in Vancouver compared with Manhattana.