- London is facing a housing crisis due to rising prices, low vacancy rates, and aging infrastructure.
- London lies just outside of the “Greater Golden Horseshoe” (GGH) region which has been targeted by provincial legislation aiming to cool the housing market.
- Detached home prices in London increased by over 17% from December 2016 to December 2017, compared to just 0.7% in Toronto.
London has a critically low vacancy rate, at 1.8% overall in 2017, and many of the units that are available are priced well above market rent.
- London’s Housing First approach contributed to reducing the number of individuals accessing emergency shelters by 18% between 2011 and 2016.
- Indigenous peoples make up a heavily disproportionate number of Londoners experiencing homelessness. Almost 29% of enumeration respondents reported Indigenous heritage, compared with just over 2% of the general population.
Social and Affordable Housing
- Right now in London, there are over 3,000 households on the waiting list for affordable housing, and countless others living in precarious, unsafe, or unaffordable housing.
- The majority of housing stock the City inherited was built in the 1950’s and 1960’s, and many building systems are coming to the end of their lifecycle.
- Although buildings are in fair condition today, in five years’ time there is a forecast $225M deficit for maintenance, repairs, and replacement of City-owned affordable housing properties alone.
- London’s Housing Development Corporation, incorporated in 2015, is a regional leader in advancing public-private partnerships to increase the supply of affordable housing.
- For every $1 in public funding for housing, the Housing Development Corporation can leverage an additional $1 from the private sector.
- London is demonstrating the power of community collaboration in combating homelessness, through programs like Street Level Women at Risk.
- The Street Level Women at Risk program, which brings together resources from 25 community organizations, has found and maintained housing for 36 women involved with street-level sex work to date.