A new policy report from the Ontario Real Estate Association (OREA) suggests that using more factory-built homes will help save Ontario time and money when it comes to address its housing supply and affordability crisis.

The association says the re-elected Ford government has committed to invest $50 million into prefabricated homes and innovative homebuilding technologies. That’s good progress, OREA says, but more needs to be done.

Its report highlights five policy recommendations that would cut red tape and create favorable conditions for investment to significantly boost factory-built housing construction.

It argues the government should create a standardized, province-wide definition of factory-built housing, working closely with the financial services sector to ensure availability of mortgage products and proper insurance underwriting.

It recommends the province take the lead in developing cross-country standards for offsite housing construction, while creating a vendor of record list to help provide public legitimacy to reputable prefabricated housing companies.

Third, it calls for the government to reduce red tape and regulatory burdens, including at the municipal level. It recommends conducting a review of municipal bylaws, amending provincial rules to prevent local zoning discrimination against factory-built homes, developing blueprints for prefabricated communities, and implementing a streamlined approval process for approved vendors.

Fourth, it says the government should encourage and invest in the adoption of off-site construction technologies for building new housing supply.

Finally, it calls for factory-built housing to be exempted from the spring thaw restrictions under the Highway Traffic Act.

“Now more than ever, housing affordability needs to be the top priority for the Government of Ontario to address, and with precise policies and legislation, we can help scale the housing construction industry and get more families into great, affordable new homes,” said OREA President Cathy Polan.

The full policy report document is available at OREA.com.