Money: Airbnbs have 'serious impact' on Toronto housing despite making up less than 1% of dwellings, expert says - - PressFrom - Canada
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MoneyAirbnbs have 'serious impact' on Toronto housing despite making up less than 1% of dwellings, expert says

14:10  01 may  2019
14:10  01 may  2019 Source:   cbc.ca

Toronto has the world’s 12th most expensive housing market, report says

Toronto has the world’s 12th most expensive housing market, report says It may be hard to find an affordable place to live in Toronto, but it’s still less expensive than New York or Hong Kong. Toronto came 12th in a ranking of the worlds most expensive places to live, according to a new report by CBRE Residential that analyzed housing and rental prices for 35 major cities around the world. CBRE named Hong Kong, Singapore and Shanghai as the three most expensive cities. The top city in Canada was Vancouver at number four, while Montreal ranked 25th. According to the report, the average price of a Toronto home is now $766,832 (all figures Canadian), which is more than double the cost of an average Montreal home.

Airbnb listings for entire homes in Toronto only make up as much as 0.8 per cent of all the city’s private dwellings , but one urban planning expert says that’s still enough of There were more than 9,500 listings for entire homes in Toronto on Airbnb when CBC News monitored the site for 24-hours in April.

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Airbnbs have 'serious impact' on Toronto housing despite making up less than 1% of dwellings, expert says© CBC This map uses a colour scale to show the percentage of dwellings listed as 'entire place' rentals on Airbnb in each of Toronto's neighbourhoods as of April 10, 2019.

Airbnb listings for entire homes in Toronto only make up as much as 0.8 per cent of all the city's private dwellings, but one urban planning expert says that's still enough of the market to have a "serious impact" on the affordability and availability of housing in Toronto.

One per cent or less of housing "is by far enough" Airbnb activity to raise housing prices and rent in Toronto, according to David Wachsmuth. The McGill University professor says the percentage looks small because it also takes into account occupied dwellings.

Affordable housing project in Leslieville cancelled as construction costs escalate

Affordable housing project in Leslieville cancelled as construction costs escalate An accessible, affordable housing development slated for the northeast corner of Upper Gerrard St. and Coxwell Ave. is no more. Faced with financial challenges, Innstead Co-operative Housing Inc., a 52-property co-op based in Leslieville, has cancelled its 33-unit, six-storey mixed-use apartment building. The new development at 355 Coxwell would have been the first significant co-op housing expansion in Toronto in 25 years. In 1994, provincial funding was eliminated for co-operative housing projects.

Airbnbs have ' serious impact ' on Toronto housing despite making up less than 1 % of dwellings , expert says . Those tools include doing title searches to see if a person owns more than one property to determine primary residence, checking whether they've registered with the city under the

Airbnb listings for entire homes in Toronto only make up as much as 0.8 per cent of all the city’s private dwellings , but one urban planning expert says that’s still enough of the market to have a “ serious impact ” on the affordability and availability of housing in Toronto . One per cent or less of housing

"It doesn't matter what's happening in 99 per cent of the houses that already have residents in them," said Wachsmuth, who has studied Airbnb for three years. "What matters is what are the apartments that are vacant and available for rent."

Airbnbs have 'serious impact' on Toronto housing despite making up less than 1% of dwellings, expert says There were more than 9,500 listings for entire homes in Toronto on Airbnb when CBC News monitored the site for 24-hours in April.

And while it's not entirely clear how many of the entire homes listed on Airbnb would be vacant otherwise, last month there were more than 9,500 such listings in Toronto managed by 6,500 hosts. To get those numbers CBC News monitored Airbnb for entire apartment, condo and house listings over the course of 24 hours in 16 major Canadian cities — including Toronto.

Airbnb has repeatedly called such independently obtained figures "very unreliable."

Use surplus public lands 'more aggressively' to create affordable housing, researcher says

Use surplus public lands 'more aggressively' to create affordable housing, researcher says A Ryerson University researcher is calling on governments in Ontario to be more aggressive in using surplus public land to boost the supply of affordable housing. She's speaking out the same day the province announced the sale of a parcel of land partly for affordable housing in downtown Toronto.

Toronto ’s housing crisis is being fuelled by the emergence of “ghost hotels” — profitable, short-term rentals posted on websites like Airbnb that are " I think the city's really smart about housing and trying to make progress with their bylaw," she said . Airbnbs have ' serious impact ' on Toronto housing

At least one expert says neither city has fully addressed the issue, and says without proper data The rules proposed by the City of Toronto define "short-term" as less than 28 days. Airbnbs have ' serious impact ' on Toronto housing despite making up less than 1 % of dwellings , expert says .

Waterfront one of top neighbourhoods in Canada

A big chunk of Toronto's listings are downtown in the Waterfront Communities. With 2,300 listings, it has the most of any neighbourhood in the city. CBC's analysis suggests as many as 5.3 per cent of all private dwellings in the neighbourhood are listed on Airbnb. It's one of the top five Airbnb neighbourhoods in Canada, behind parts of Montreal and Quebec City.

Airbnbs have 'serious impact' on Toronto housing despite making up less than 1% of dwellings, expert says© Radio-Canada Radio-Canada

Wachsmuth attributes the boom in the Waterfront Communities to a one-two punch of new condo builds and proximity to tourist attractions. Until a few years ago, he says, condos were snapped up by people who wanted to live there, or as investment properties where the owners would find long-term tenants.

Now another — potentially more lucrative — option is on the rise with the new supply of housing on the waterfront.

"The investors who are buying them are turning them into Airbnbs instead of into apartments," Waschsmuth told CBC News. "That's one pattern that you see in Toronto, Montreal and Vancouver, where the new condo construction is kind of going directly into the short term rental market."

1 in 50 private dwellings in Charlottetown listed on Airbnb, analysis finds

1 in 50 private dwellings in Charlottetown listed on Airbnb, analysis finds One out of every 50 private dwellings in Charlottetown was listed for rent on the website Airbnb, according to an analysis of the site by CBC News. CBC News captured listings on the site for 17 Canadian cities on Apr. 10. The 331 listings captured for Charlottetown represent 1.93 per cent of all private dwellings in the city. That's the second-highest proportion among all the cities included in the analysis. Whistler was highest at 18 per cent. David Wachsmuth, a professor with the School of Urban Planning at McGill University, has been studying the short-term rental industry.

Airbnb listings for entire homes in Toronto only make up as much as 0.8 per cent of all the city’s private dwellings , but one urban planning expert says that’s still enough of the market to have a “ serious impact ” on the affordability and availability of housing in Toronto . One per cent or less of housing

Airbnbs have ' serious impact ' on Toronto housing despite making up less than 1 % of dwellings , expert says . Airbnb listings for entire homes in Toronto only make up as much as 0.8 per cent of all the city’s private dwellings , but one urban planning expert says that’s still enough of the market to

'We want people to have a place to live,' city official says

Toronto's executive director of Municipal Licensing and Standards hopes the city's proposed short-term regulations will put an end to that trend — if and when they come into effect. Under the regulations, Airbnbs could only be operated through a person's primary residence for up to 180 nights a year, essentially making short-term rental investment properties illegal.

"We want six month and 12 month leases; we want people to have a place to live," said Carleton Grant, who helped develop the regulations.

"We want people to have affordable and available housing, not have our rental prices continue to increase because housing has been taken away by the investment group."

The regulations have been in limbo since Airbnb hosts appealed the motion to the Local Planning Appeal Tribunal. A two-day hearing was originally scheduled for August of last year but was rescheduled for this August to accommodate a longer, five day hearing.

Airbnbs have 'serious impact' on Toronto housing despite making up less than 1% of dwellings, expert says© CBC News CBC News

Airbnb declined an interview with CBC News, but said in a statement that it "supports regulations on home sharing that protect the affordable housing supply while still letting the city and local residents realize more of the economic benefits of tourism.

311 complaints about short-term rentals have skyrocketed in Toronto

311 complaints about short-term rentals have skyrocketed in Toronto The Ice Condos tops the list of addresses with the most 311 complaints about short-term rentals in Toronto, according to eight years of data obtained by CBC News from the city.

Burns called Toronto Police that night around 10 p.m. Police say they told the guests they were at the wrong home and cautioned them to get off of Burns's property, but didn't make any Airbnbs have ' serious impact ' on Toronto housing despite making up less than 1 % of dwellings , expert says .

Airbnbs have ' serious impact ' on Toronto housing despite making up less than 1 % of dwellings , expert says . Tiny houses smaller than 500 square feet are certainly trendy, featured in places like uber-chic Rod Stambaugh, president of Sprout Tiny Homes , builder of the proposed Salida

"Homes listed on our platform account for a tiny percentage of the total local housing supply," said Alexandra Dagg, the company's director of public policy in Canada.

While the top Airbnb neighbourhood encompasses obvious tourist attractions like the CN Tower and Rogers Centre, some of the other neighbourhoods with the highest percentages of Airbnb listings are less obvious — like Trinity-Bellwoods and Little Portugal.

'These guys are predators': Condo owner says home turned into Airbnb 'ghost hotel'

'These guys are predators': Condo owner says home turned into Airbnb 'ghost hotel' An Ottawa man who says his tenant is renting his ByWard Market condo out on Airbnb against his will — and the condo board's rules — says he feels "violated" by "predators." Jason Yung moved to New York City a few years ago to pursue a master's degree, and in January found a new tenant to rent his ByWard Market condo. Almost immediately, he had complaints from neighbours in the small 22-unit St. Patrick Street building about the number of people coming and going from his apartment. "There's a parade of guests staying at the place," said fellow condo owner Michael Baran. "We don't know who's coming in. We can't control it.

Airbnbs have ' serious impact ' on Toronto housing despite making up less than 1 % of dwellings , expert says . Airbnb listings for entire homes in Toronto only make up as much as 0.8 per cent of all the city’s private dwellings , but one urban planning expert says that’s still enough of the market to

Regulations ' make the process more burdensome' says consumer expert David Clement. (Tina Lovgreen/CBC). A group of consumer advocates is warning against additional Airbnbs have ' serious impact ' on Toronto housing despite making up less than 1 % of dwellings , expert says .

Tourists looking to stay in different neighbourhoods

Both neighbourhoods are west of the city's downtown core, in areas with few to no hotels, and yet they could have more than two per cent of private dwellings listed on Airbnb.

At least some of those short term rentals are likely a result of a change in tourist activity Waschsmuth has seen in his research, where people are now interested in staying in different kinds of neighbourhoods while on vacation.

But Waschsmuth says the demand doesn't "balance out the fact that those neighbourhoods have higher housing prices and less housing available as a result."

"I think a good solution to that is build places for tourists to stay," he told CBC News.

But according to Grant, that's not really something the city is looking at doing, instead he says the proposed regulations would focus on maintaining residential communities in neighbourhoods like Trinity-Bellwoods and Little Portugal.

"We want to have minimal community nuisance," he said.

Methodology: How did CBC analyze Airbnb listings?

CBC News monitored and collected the price, number of reviews, star rating and geolocation of all listings advertising an entire home or suite that appeared on Airbnb's website on April 10, 2019, for 16 Canadian cities. A minority of listings might be duplicates of the same property created by the same host as a marketing strategy.

Each city provided CBC with their custom "Neighbourhood Profile" and current neighbourhood boundaries. CBC used the total number of private dwellings, which include both occupied and unoccupied homes. The City of Quebec could not provide CBC with that figure, so our analysis is based on the total number of occupied dwellings only.

Airbnb has consistently said that data gathered in this manner is unreliable and can have significant gaps because of the limited information available on its public web pages.

Read more

Council votes to oppose Ford's new housing plan amid concerns over affordability, reduced revenue.
The new plan, heading through the legislature as Bill 108, aims to tweak more than a dozen pieces of legislation to cut red tape, speed up housing approvals, and make housing "more affordable" for both would-be home-buyers and renters. But in a new report, chief city planner Gregg Lintern and city manager Chris Murray said there is "limited evidence" the legislation would make it easier or faster to build. "There are no tools in Bill 108 that address head-on our affordable housing challenge," Lintern later told council.

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