Priced Out: Understanding the Factors Affecting Home Prices in the GTA

Royal Bank of Canada and the Pembina Institute’s Home Location Study released last year found that over 80 per cent of Greater Toronto Area residents would give up a large home and yard to live in a “location-efficient” neighbourhood that is transit-friendly, walkable and offers shorter commute times. However, more than 70 per cent of residents in the GTA live where they do because of affordability rather than preference.

Priced Out is a follow-up study researched and written by the Pembina Institute, co-published by RBC, that explores the factors contributing to rising home prices in the GTA, and how homebuyers are being “priced out” of location-efficient options.