A new report on housing needs in Perth County finds the current supply doesn’t meet the needs of the population.
The report, put together by firm Watson and Associates Economists Limited, says the region has seen strong population growth and demand for housing over the past five years with housing costs and rental rates increasing faster than household income growth.
It goes on to say that household growth of 3,200 units over the next decade will be needed to keep pace, with 26 per cent of those required to be affordable.
Affordable housing is defined as no more than thirty per cent of a household’s income going to housing costs a year.
The report adds the county will need to offer things like regulatory and financial incentives to developers to ensure the required housing is put in place.
