Recently announced by the federal government is the Housing Statistics Framework. This is part of the national housing strategy developed to simplify the collection of residential housing information and host it across a national platform.
The federal government recently announced the development of the online tool which is intended to showcase information to policy makers. The site will feature previous and current information on location of purchases, buyer demographics, listing prices, and sales information for residential real estate.
Why does this matter?
It is reported that Stats Canada will begin publishing their findings in fall 2017. This information will be used in future government decisions that will affect the real estate market.
These statistics will provide more transparency in the residential market and allow for direct comparability. The goal is to see the areas, communities, and residences that are in need of the most help.
How does this relate to the National Housing Strategy (NHS)?
This will help provide policy makers on any potential data gaps that the Canadian Home Builders Association are concerned about. This strategy was developed after Canadians were asked to express their thoughts towards the recent National Housing Strategy (NHS) through surveys, focus groups, written submissions, social media, and roundtable meetings.
This information revealed that Canadians want to make the real estate market more approachable for low-medium income households. This initiative also includes improving houses for Indigenous people, making it more affordable to rent and own a home, creating sustainable and inclusive communities, ending homelessness, and strengthening social housing.
How will this happen?
In order to implement the suggestions, there has to be concrete data on the locations and residents that are struggling the most. Thats where the HSF comes into play.
The concept is to collect data so the NHS can begin developing strategies to strengthen the real estate market, improve quality of life, and provide necessary resources to the applicable demographics.
