Housing costs and supply for low- and middle-income residents are reaching crisis levels in many cities

2024 Drivers of Change - No vacancy February 13, 2024

Toronto, ON – Global commercial real estate advisor, Avison Young, today releases the third story in its 2024 Drivers of Change series, focused on rising housing costs for renters and owners, supply shortages, and the urgent work ahead to improve the livability of cities.

Exploring the severe convergence of interest rates, rising rents, and shortage of attainable supply, two experts in housing policy and development share their outlook on solutions in two notably diverse markets; London and Toronto:

Nick Walkley, president of UK offices at Avison Young and previously Chief Executive of Homes England, the UK Government’s land, development, and housing investor.

Vic Gupta, Chief Executive of CreateTO, the City of Toronto’s land and real estate corporation.

About the Drivers of Change series
With the world in a perpetual state of flux, from rising interest rates to extreme weather, the series delves into topics and issues that are at the forefront of business, the economy, and commercial real estate – from housing, to supply chain trends, to Artificial Intelligence. Ten thought leadership pieces from Avison Young experts demonstrate how, without change, there is no growth, innovation, nor progress.

See the Drivers of Change series.

See the No Vacancy article

About Avison Young

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.

For more information: 

Andrea Zviedris [email protected], Media Relations – Canada: +1 416.891.7416

Sandra Hill [email protected], Media Relations – United States: +1 281.853.5548

Andrea Klettner [email protected], Media Relations – United Kingdom