As dedicated real estate professionals serving Medicine Hat and the surrounding areas, we’re always watching the trends that shape home affordability and supply. Recent findings from a national housing agency highlight how development fees can significantly impact the viability of new residential projects—some could become about 14% more feasible if fees are reduced. Cities like Toronto and Vancouver stand out: removing these charges could increase the number of viable projects by around 10%, and in Toronto’s case, potentially meet half of its supply goals. Comparing city to city, Calgary’s fees are much lower—about $4,000 for a one-bedroom high-rise and up to $9,000 for a detached home—while Vancouver’s range from $20,000 to $33,000 for similar properties. Of course, these fees help fund essential infrastructure like roads and sewers, so it’s a balancing act. But lowering fees on family-sized homes might make it easier for new projects to compete, especially in expensive markets where larger new homes are often pricier than comparable resale options. We’re committed to keeping you informed about how these changes could affect your home-buying or selling journey here in Medicine Hat and nearby communities.
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