Lower cost of land acquisition

Although no comprehensive data are available, it is clear that land prices and the pattern of land ownership in the Toronto-related region affect developers' locational decision-making. Interviewees emphasized that the low cost of acquiring or optioning rural land in Simcoe relative to elsewhere is attractive to developers. The lower the cost of land acquisition, the higher the profit when units are sold to homebuyers. When developers option land, they sign an agreement with the owner agreeing to buy the land at a set price should the land be re-designated for development. It is widely known that land not designated as urban in York and Durham is largely already controlled by a handful of players. Other developers seeking to get into the game must look farther afield.