Toronto Poll Ranks Housing Costs as Important in Municipal Elections

Published on October 03, 2018

Representing all facets of the GTA real estate industry, the Building Industry and Land Development Association (BILD) has teamed up with the Toronto Real Estate Board (TREB) to elucidate the priorities of voters. This involves the recent polling of GTA residents regarding housing and infrastructure, with: an accuracy of +/- 2.9%, a sample size of 1503 people, and adjustments to the sample composition to reflect population density. GTA residents who fall under the category of ‘millennials’ are among the most concerned about the cost of housing in the future, along with residents who are currently renting.

Results of the Poll

Of the 1503 people polled, 68% have indicated that the cost of housing has had a direct impact on their lives in some form or another. 40% have said that the cost of housing has affected their ability to save for retirement, 34% have said it has affected their ability to afford a vacation or large purchase, and 20% have said it is making home upgrades difficult to afford as well.

How Energy Efficiency Can Help

Inefficient energy usage can lead to increased utility bills, and when living in a region that is expensive – in terms of living and energy usage - it can put the homeowner/renter in a form of ‘energy poverty’. This prevents residents from being able to use their amenities, or from carrying out day to day tasks for fear of incurring a large bill that they are unable to pay.

A possible solution to this problem, or at the very least a way to increase a home’s affordability, would be to include the home’s operating costs into the cost of housing. Ideally, it is beneficial to consider your home’s energy efficiency and utility bills over the long term, and to consider putting a ‘down payment’ into improving your home’s energy usage - thereby saving money in the future from lower utility bills. However, this requires an initial investment and may not be possible for all residents in the GTA.

What Services Already Exist?

National Resources Canada has a sanctioned rating that is used to indicate a home’s energy consumption patterns - anEnerGuide Rating. With this rating, home buyers as well as home sellers have information that speaks to the energy efficiency of the home on hand, and can use this information to help determine their ability to buy or sell respectively.

These ratings can be used on both old and new homes, and they provide valuable information that benefits all parties involved during time of sale. Setting up homes quickly should not be at the expense of energy efficiency and comfort - an EnerGuide Rating can highlight the energy inefficient areas of a home that may need improvement, as well as inform buyers as to the operation costs of the home they are looking at.

Barrier Sciences Group has Energy Advisors registered with NRCan to conduct energy evaluations and issue EnerGuide Reports. If you are a homeowner or a landlord, please contact us to reduce the energy bills for your home. Fill out the form here or call 1-866-333-3920.