Nearly 30,000 new homes are needed in Guelph and Wellington County by 2031 in order to accommodate provincially mandated population growth. Province-wide, 1.5 million new homes are needed.
That’s among the findings of a report from Smart Prosperity Institute, a University of Ottawa-based national research network and policy think tank.
“Ontario is in a housing crisis, with skyrocketing rents and interest rates on the rise. Both the federal and provincial governments believe that we need to build at least 1.5 million homes over the next decade to ensure there is an attainable home for every family. Our findings suggest that goal is the right one”, said Mike Moffatt, senior director of policy at Smart Prosperity Institute and lead author of the report, in a news release.
"Guelph is not immune to the housing shortages plaguing Ontario", he added. “Local leadership and a substantial plan will be required for Guelph and Wellington County to build the needed 29,600 homes between now and 2031."
Based on the 2021 census, Guelph’s population sits at about 145,000, with 97,000 more in Wellington County. The city’s population is slated to reach 177,000 by 2031, while the county’s hits 122,000.
In order to accommodate those added residents, Smart Prosperity Institute believes 29,600 new homes are needed locally.
In its report, the institute notes Ontario had a housing shortage of 471,500 in 2021, with more than one million more needed to keep pace with growth targets, resulting in a need for more than 1.5 million new homes in all by 2031.
Nearly half of that is slated for Toronto, as well as York and Peel regions.
Without a “serious plan” to address housing shortages in those areas, more people will move farther afield in order to find housing that meets their needs, resulting in additional commute times while contributing to a loss of forests and farmlands, the report states, making it “all but impossible” for the province to meet its stated climate goals.
"A housing target is not a housing plan. While the 1.5 million housing target is a useful benchmark, it is not a comprehensive plan,” said Moffat in the release. “The province will need to address the bottlenecks to building more housing, including ensuring enough skilled tradespeople.
“And we must ensure we are building these homes in a manner which is compatible with our climate goals."
