SHS Consulting, the firm hired to conduct an in-depth study of the housing situation in Timmins, has completed the first phase of the Timmins Housing Strategy. The first phase puts some numbers behind the supply and demand for affordable housing in Timmins. You can download the report here.
Key findings include:
- Despite changing demographics, housing production has been slow to align with actual demand.
- There is a disproportionate amount of older housing stock and ongoing demolition in Timmins that is affecting the supply, driving rental rates up and vacancy rates down.
- Income-wise, the average household in Timmins is better off today that it has been in years past.
- Housing affordability has actually improved since 1995, but is significantly influenced by supply trends.
- Almost half of the renters in Timmins have incomes of less than $30,000, which severely limits their housing options.
These findings are supported by statistics, and can be found in the report. The Housing Strategy has three phases, and should be completed by early summer.
- Phase 1: Quantifying Supply and Demand
- Phase 2: Recommendations
- Phase 3: Implementation Strategy
