Real estate industry urges Ford to deliver housing promises

Ontario’s premier needs to push ahead with the assistance promised to the province’s potential home buyers.

The Ontario Real Estate Association (OREA), Ontario Home Builders Association (OHBA) and the Federation of Rental-Housing Providers of Ontario (FRPO) met this week to discuss housing policy and are calling on the Ford government to implement solutions to increase housing supply and assist first-time buyers.

“Keeping the dream of home ownership alive in Ontario requires bold policies and action from the provincial government,” said Tim Hudak, Chief Executive Officer, OREA. “First and foremost, to get more new homes in the marketplace, the building approvals process must be streamlined and zoning updated to allow for more homes in the right places. The best and fastest way to give Ontario’s first-time home buyers a break is to eliminate the punishing land transfer tax for first-time buyers.”

Along with increased supply and less red tape, the organizations are calling for the government to eliminate the land transfer tax for first-time home buyers or dramatically increase the current rebate offered to first-time buyers.

They also want a return of the Ontario Municipal Board which they say has traditionally taken the NIMBY out of housing decisions. They say bringing back the OMB will mean evidence-based planning decisions, which will create more housing supply and choice.