15-Minute Neighbourhoods and Canada’s Housing Crisis
Monday Jun 26th, 2023
REMAX Canada put together this article to create a clearer understanding of 15-Minute Neighbourhoods. Please take a look:
As Canada continues to grapple with a housing crisis rooted in a persistent inventory shortage, RE/MAX Canada explores possible solutions through the launch of our latest report, 15-Minute Neighbourhoods: Lessons for Small Communities.
Thus far, the National Housing Strategy announced in 2017 has succeeded in creating and repairing 213,733 units. In comparison, Canada’s population grew by more than one million in 2022. With demand perpetually housing outpacing supply, many Canadians find themselves at a fork in the road where difficult choices must be made, but what is the reality of those choices?
This new report is named for 15-minute neighbourhoods, an urban planning concept that puts daily necessities within a 15-minute walk, bicycle ride or transit ride from home. RE/MAX highlights this concept as a pragmatic approach to building the right supply of housing for the greatest number of Canadians, in a way that delivers maximum liveability and affordability – particularly in smaller municipalities that are experiencing rapid growth.
Here are 3 key findings from the REMAX report:
- 45% of drivers and 59% of non-drivers agree that the 15-Minute Neighbourhood is realistic, achievable and feasible.
- 68% of RE/MAX brokers surveyed said affordability is the top consideration for buyers when choosing a neighbourhood.
- 7 in 10 Canadians believe that reducing commute time to 15 minutes or less will improve their quality of life.