Toronto’s Vital Signs Report Warns of Airbnb’s Impact on Toronto’s Housing Market

October 4, 2016

Toronto’s Vital Signs Report Warns of Airbnb’s Impact on Toronto’s Housing Market


Report: “The rise of online app based home rental tools like Airbnb are undoubtedly contributing to low vacancy rates”

 (TORONTO) Today, Toronto Foundation released its annual report on the state of the city, an invaluable snapshot about the trends and issues impacting the quality of life in Toronto.

The Fairbnb.ca Coalition is encouraged to see that this year’s report acknowledges the negative impact that app based “sharing” technologies have on Toronto’s housing market. With regards to the accommodation sector, Toronto’s Vital Signs reports that “the rise of online app based home rental tools like Airbnb are undoubtedly contributing to low vacancy rates” in the city. It notes that Toronto is burdened with below national and provincial vacancy rates of 1.8%, and acknowledges that such low vacancy rates are commonly linked to rising rents, which makes it more difficult for households in Toronto to locate and access affordable housing.

“For years, Toronto’s Vital Signs has provided us with the most comprehensive report on the quality of life in the city. We are glad to see that Airbnb’s negative impact on Toronto’s housing and labour market has been recognized as an important and growing issue impacting people’s lives,” says Lis Pimentel, Chair of the Coalition.

The report also highlights that Airbnb’s revenue stream disproportionality depends on so-called “entire home” listings, and that commercial hosts who remove more than one home from the city’s housing market represent an astonishing 40% of what Airbnb has to offer.

The Toronto’s Vital Signs Report reconfirms once more the need for fair regulation to address Toronto’s housing affordability crisis and to eliminate the growing ghost hotel sector.

To access the full report, visit: http://torontosvitalsigns.ca/wp-content/uploads/2016/10/WEB-OP-TorontosVitalSignsReport2016FINAL.pdf

For more information, please contact:

  • Thorben Wieditz at 647-409-8997 or fairbnb@fairbnb.ca
  • @fairbnbcanada on Twitter
  • Fairbnb.ca on Facebook

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