{"id":303395,"date":"2024-08-12T20:56:39","date_gmt":"2024-08-12T20:56:39","guid":{"rendered":"https:\/\/wahi.com\/ca\/en\/?p=303395"},"modified":"2024-11-07T15:43:07","modified_gmt":"2024-11-07T15:43:07","slug":"rising-building-costs-continue-to-threaten-housing-affordability","status":"publish","type":"post","link":"https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/rising-building-costs-threaten-housing-affordability\/","title":{"rendered":"Rising Building Costs Continue to Threaten Housing Affordability"},"content":{"rendered":"\n[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||3px|||&#8221; da_disable_devices=&#8221;off|off|off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; 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url=&#8221;https:\/\/www.facebook.com\/wahiinc\/&#8221; icon_color=&#8221;#BC4E40&#8243; _builder_version=&#8221;4.20.2&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;RGBA(255,255,255,0)&#8221; background_enable_color=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221; follow_button=&#8221;off&#8221; url_new_window=&#8221;on&#8221;]facebook[\/et_pb_social_media_follow_network][\/et_pb_social_media_follow][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;15px||0px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|desktop&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<p><span style=\"font-weight: 400;\">It\u2019s getting more expensive to build homes, and rising costs could worsen a housing-supply shortfall if developers pull back on projects as a result.<br \/><\/span><\/p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; custom_margin=&#8221;||11px|||&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<p>By <a href=\"https:\/\/wahi.com\/ca\/en\/author\/josh-shermanwahi-com\">Josh Sherman<\/a><span style=\"font-weight: 400;\">\u00a0<\/span>| 3 minute read<\/p>[\/et_pb_text][et_pb_post_title title=&#8221;off&#8221; author=&#8221;off&#8221; date_format=&#8221;M j&#8221; categories=&#8221;off&#8221; comments=&#8221;off&#8221; featured_image=&#8221;off&#8221; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||26px|||&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||3px|||&#8221; da_disable_devices=&#8221;off|off|off&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; width_tablet=&#8221;&#8221; width_phone=&#8221;100%&#8221; width_last_edited=&#8221;on|desktop&#8221; custom_padding=&#8221;0px||9px|||&#8221; global_colors_info=&#8221;{}&#8221; width__hover_enabled=&#8221;off|desktop&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;https:\/\/wahi.com\/wp-content\/uploads\/2024\/08\/Mortgage-borrowers-keeping-up-with-payments.jpg&#8221; alt=&#8221;The number of homes on the market continues to climb in major Canadian cities giving some buyers a shot at a discount.&#8221; title_text=&#8221;Mortgage-borrowers-keeping-up-with-payments&#8221; align=&#8221;center&#8221; force_fullwidth=&#8221;on&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;1px||29px|||&#8221; border_radii=&#8221;on|32px|32px|32px|32px&#8221; border_radii_tablet=&#8221;on|32px|32px|32px|32px&#8221; border_radii_phone=&#8221;on|0px|0px|0px|0px&#8221; border_radii_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;1.13rem&#8221; text_line_height=&#8221;1.75rem&#8221; custom_margin=&#8221;-18px||2px|||&#8221; custom_padding=&#8221;||7px||false|true&#8221; custom_padding_tablet=&#8221;||7px||false|true&#8221; custom_padding_phone=&#8221;|15px|7px|15px|false|true&#8221; custom_padding_last_edited=&#8221;on|phone&#8221; text_font_size_tablet=&#8221;1.13rem&#8221; text_font_size_phone=&#8221;0.9rem&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<p><span style=\"font-weight: 400;\">Earlier this summer, Canadian homebuilders were beginning work on fewer homes than a year ago, and experts predict the downward trend will continue. <\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;32px||23px|||&#8221; da_disable_devices=&#8221;off|off|off&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.3em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;36px&#8221; header_2_font_size_phone=&#8221;25px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<h2><\/h2>\n<p><span style=\"font-weight: 400;\">Homebuilding costs continue to climb in Canada, <\/span><a href=\"https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/240730\/dq240730d-eng.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">according to Statistics Canada<\/span><\/a><span style=\"font-weight: 400;\">, and although increases are moderating, experts remain concerned that elevated expenses will constrain construction when future supply is desperately needed to meet long-term demand.<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">In the second quarter of the year, Statistics Canada\u2019s housing construction index, which measures changes in residential construction costs over time, climbed 0.8% from the previous three-month period. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u201cSkilled labour shortages and the resulting increases in labour rates, interest rate pressure and building code updates were all reported as key factors impacting the construction sector in the second quarter,\u201d the national statistical agency notes.<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">Costs increased quarterly in all 11 markets that the index tracks. <a class=\"wpil_keyword_link\" href=\"https:\/\/wahi.com\/ca\/en\/real-estate\/ab\/calgary\" title=\"Calgary\" data-wpil-keyword-link=\"linked\" data-wpil-monitor-id=\"568\">Calgary<\/a> saw the biggest quarterly leap in costs at 1.8% while the Toronto area experienced the smallest at 0.2%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some suggest these continually mounting costs will reduce the number of homes that get built, which could further erode housing affordability when homebuying activity picks up again.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In June, Canadian homebuilders broke ground on 20,509 new units, <\/span><a href=\"https:\/\/www.cmhc-schl.gc.ca\/professionals\/housing-markets-data-and-research\/housing-data\/data-tables\/housing-market-data\/monthly-housing-starts-construction-data-tables\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">down 13% from a year prior<\/span><\/a><span style=\"font-weight: 400;\">, according to the Canada Mortgage and Housing Corporation (CMHC). <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">In separate analysis of the CMHC data, <\/span><a href=\"https:\/\/economics.td.com\/ca-housing-starts\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">TD Economics warns<\/span><\/a><span style=\"font-weight: 400;\"> that the rate of homebuilding will likely continue to slow, in part due to these rising costs. \u201c[W]e believe\u2026 [housing] starts will trend lower on the back of weak pre-sale activity in key markets and elevated input costs,\u201d writes TD Economist Marc Ercolao.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; 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module_alignment=&#8221;center&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; custom_css_main_element=&#8221;margin: auto;&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;https:\/\/wahi.com\/wp-content\/uploads\/2024\/04\/Frame-7115.png&#8221; title_text=&#8221;Frame 7115&#8243; src_tablet=&#8221;&#8221; src_phone=&#8221;https:\/\/wahi.com\/wp-content\/uploads\/2024\/04\/Frame-7115-1.png&#8221; src_last_edited=&#8221;on|phone&#8221; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; custom_css_main_element=&#8221;margin: auto;&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; header_font=&#8221;Poppins|700|||||||&#8221; header_line_height=&#8221;44px&#8221; max_width=&#8221;100%&#8221; max_width_tablet=&#8221;&#8221; max_width_phone=&#8221;270px&#8221; max_width_last_edited=&#8221;on|phone&#8221; module_alignment=&#8221;center&#8221; custom_margin=&#8221;||10px||false|false&#8221; header_text_align_tablet=&#8221;&#8221; header_text_align_phone=&#8221;center&#8221; header_text_align_last_edited=&#8221;on|phone&#8221; header_font_size_tablet=&#8221;&#8221; header_font_size_phone=&#8221;30px&#8221; header_font_size_last_edited=&#8221;on|desktop&#8221; custom_css_main_element=&#8221;font-weight: 800 !important;&#8221; custom_css_free_form=&#8221;#sell-widget h1{||  font-weight: 700 !important;||  font-size: 30px;||}&#8221; global_colors_info=&#8221;{}&#8221;]<h1>Find the Right REALTOR\u00ae for You<\/h1>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;22px&#8221; text_line_height=&#8221;26px&#8221; header_font=&#8221;||||||||&#8221; header_line_height=&#8221;26px&#8221; header_2_font_size=&#8221;22px&#8221; header_2_line_height=&#8221;26px&#8221; max_width=&#8221;100%&#8221; max_width_tablet=&#8221;&#8221; max_width_phone=&#8221;270px&#8221; max_width_last_edited=&#8221;on|phone&#8221; module_alignment=&#8221;left&#8221; custom_margin=&#8221;||30px||false|false&#8221; text_font_size_tablet=&#8221;&#8221; text_font_size_phone=&#8221;18px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; text_orientation_tablet=&#8221;&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|phone&#8221; module_alignment_tablet=&#8221;&#8221; module_alignment_phone=&#8221;center&#8221; module_alignment_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<p>We&#8217;ll match you with a proven agent in your area.<\/p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/wahi.com\/ca\/en\/find-a-realtor-in-your-area&#8221; button_text=&#8221;Learn more&#8221; button_alignment=&#8221;left&#8221; button_alignment_tablet=&#8221;&#8221; button_alignment_phone=&#8221;center&#8221; button_alignment_last_edited=&#8221;on|phone&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; button_text_size=&#8221;12px&#8221; button_border_radius=&#8221;4px&#8221; button_letter_spacing=&#8221;1px&#8221; button_font=&#8221;|700|||||||&#8221; button_use_icon=&#8221;off&#8221; custom_margin=&#8221;||||false|false&#8221; custom_padding=&#8221;10px|20px|10px|20px|true|true&#8221; button_text_size_tablet=&#8221;&#8221; button_text_size_phone=&#8221;13px&#8221; button_text_size_last_edited=&#8221;on|phone&#8221; custom_css_main_element=&#8221;font-weight: 800 !important;&#8221; custom_css_free_form=&#8221;#sell-widget a.et_pb_button{||  font-weight: 600 !important;||}||||@media (max-width: 600px){||#sell-widget a.et_pb_button{||display: block;||text-align: center;||}||}&#8221; global_colors_info=&#8221;{}&#8221; custom_css_main_element_last_edited=&#8221;on|phone&#8221; custom_css_main_element_phone=&#8221;font-weight: 800 !important;||display: block;||text-align: center;&#8221; custom_css_main_element_tablet=&#8221;font-weight: 800 !important;&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;29px||0px|||&#8221; da_disable_devices=&#8221;off|off|off&#8221; global_colors_info=&#8221;{}&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||4px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.6em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;29px&#8221; header_2_font_size_phone=&#8221;19px&#8221; header_2_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;]<p><span style=\"font-weight: 400;\">On the ground, Nick Ainis, founder and CEO of Fusioncorp Developments Inc., a Toronto area residential-construction manager, has experienced material and labour inflation first-hand. \u201cThe cost of construction \u2014 things go up, and they rarely come down,\u201d he tells Wahi in an interview. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">During the pandemic, many construction costs soared. With social-distancing rules at warehouses, factories, and development sites, production slowed, creating scarcity in the marketplace \u2014 and higher prices. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u201cIt definitely did drive construction costs up,\u201d says J. Justin Kowal, VP of mortgage origination and broker network at Firm Capital, which provides developers with financing. \u201cLumber mills, mid- to high-rise [development] sites \u2014 they were all affected,\u201d he tells Wahi. \u201cThis all came down to human capital and how many people were allowed in certain spaces.\u201d\u2028<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In many cases, the pandemic set a new benchmark, so pricing didn\u2019t drop back to pre-COVID levels after the global public-health crisis ended, he explains. Suppliers or manufacturers either figured out they could keep charging the new prices, or they kept them elevated in response to the rising cost of living.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, Kowal and Ainis see positive signs that at least some costs are coming down or stabilizing. Some labour costs are declining, for example. \u201cWe\u2019ve noticed that the trades are now hungrier for work,\u201d Ainis says, citing masonry specifically. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">The sharp drop in new housing developments in the Greater Toronto Area has more trades out of work, and some are willing to take a pay cut for jobs. \u201cWe\u2019re seeing more increased competition for the trades people, and I believe that\u2019s going to have a slight downward impact on the price,\u201d Ainis explains.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s unclear to what extent this will play out in his region, he says, since it depends on when demand for new condos returns. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">The price of lumber, one of the main materials for homebuilding, has come down from pandemic highs, Ainis has noticed. \u201cI have not seen any significant changes in any other [material],\u201d Ainis adds.<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">According to the Statistics Canada report, costs associated with masonry and utilities increased most rapidly from quarter to quarter at 2.4% and 2.2%, respectively. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">Ainis notes that construction expenses are just one contributor to the price of a new home. \u201cIt\u2019s a combination of many factors that bring up the cost,\u201d he says.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many in the industry say the development fees that municipalities charge homebuilders have more of an influence, he suggests. According to the Building Industry and Land Development Association, an industry group representing GTA developers, in many municipalities throughout the region these <\/span><a href=\"https:\/\/www.bildgta.ca\/municipalities-should-exercise-restraint-with-municipal-charges-on-new-homes\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">fees average about $100,000<\/span><\/a><span style=\"font-weight: 400;\"> for a single-family home.<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">He suggests higher interest rates are taking a toll as well. \u201cI would say they all play a part in affordability,\u201d says Ainis.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><em><\/em><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||4px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;33px||33px||true|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_blurb title=&#8221;Josh Sherman&#8221; image=&#8221;https:\/\/wahi.com\/wp-content\/uploads\/2022\/11\/Screen-Shot-2022-11-02-at-7.46.57-PM.png&#8221; icon_placement=&#8221;left&#8221; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; header_font_size=&#8221;24px&#8221; header_line_height=&#8221;1.2em&#8221; body_text_color=&#8221;#686E6E&#8221; body_line_height=&#8221;0em&#8221; width=&#8221;550px&#8221; max_width_tablet=&#8221;&#8221; max_width_phone=&#8221;&#8221; max_width_last_edited=&#8221;on|phone&#8221; module_alignment=&#8221;left&#8221; custom_padding=&#8221;2px||13px|||&#8221; header_font_size_tablet=&#8221;24px&#8221; header_font_size_phone=&#8221;20px&#8221; header_font_size_last_edited=&#8221;on|phone&#8221; header_line_height_tablet=&#8221;1.2em&#8221; header_line_height_phone=&#8221;1.4em&#8221; header_line_height_last_edited=&#8221;on|phone&#8221; custom_css_blurb_image=&#8221;width:64px;&#8221; global_colors_info=&#8221;{}&#8221;]<p>Wahi Writer<\/p>[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;1px||0px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][wahi_socialsharing module_class=&#8221;wahi_socialsharing_2&#8243; 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_module_preset=&#8221;default&#8221; custom_padding=&#8221;||19px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.20.2&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.6em&#8221; header_2_font=&#8221;||||||||&#8221; header_2_font_size=&#8221;36px&#8221; header_2_line_height=&#8221;1.6em&#8221; header_3_font_size=&#8221;1.25rem&#8221; header_3_line_height=&#8221;1.88rem&#8221; header_4_font=&#8221;|700|||||||&#8221; header_4_font_size=&#8221;1.25rem&#8221; header_4_line_height=&#8221;1.88rem&#8221; custom_margin=&#8221;||23px|||&#8221; text_font_size_tablet=&#8221;21px&#8221; text_font_size_phone=&#8221;16px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_2_font_size_tablet=&#8221;29px&#8221; header_2_font_size_phone=&#8221;27px&#8221; 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I can unsubscribe at any time.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s getting more expensive to build homes, and rising costs could worsen a housing-supply shortfall if developers pull back on projects as a result.<\/p>\n","protected":false},"author":14,"featured_media":303396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[23],"tags":[],"dipi_cpt_category":[],"class_list":["post-303395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buy-and-sell"],"acf":[],"_links":{"self":[{"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/posts\/303395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/comments?post=303395"}],"version-history":[{"count":3,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/posts\/303395\/revisions"}],"predecessor-version":[{"id":303399,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/posts\/303395\/revisions\/303399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/media\/303396"}],"wp:attachment":[{"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/media?parent=303395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/categories?post=303395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/tags?post=303395"},{"taxonomy":"dipi_cpt_category","embeddable":true,"href":"https:\/\/wahi.com\/ca\/en\/wp-json\/wp\/v2\/dipi_cpt_category?post=303395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}