As a Federal Election in Canada quickly approaches, many people have real estate policy top-of-mind. So what will this new era promise, according to each political party platform?
Key Themes Across Platforms:
-
Affordable Housing Development: All parties emphasize building more affordable housing, though their strategies differ in terms of the scale and public vs. private sector involvement.
-
Public Land: The NDP, Liberals, and Greens propose using public land to build affordable homes, whereas the Conservatives focus on private sector incentives.
-
Rent Control & Tenant Protection: The NDP and Greens are the strongest proponents of rent control, while the Liberals and Conservatives focus on housing supply.
-
Speculation & Foreign Ownership: The NDP and Greens are focused on addressing speculative practices like foreign ownership and house flipping, while the Conservatives are less focused on this issue.
2025 Canadian Federal Election Housing & Real Estate Platform Comparison
|
Policy Area |
Liberal Party |
Conservative Party |
NDP |
Green Party |
|
First-time Homebuyer Support |
Eliminate GST on new homes under $1M |
Cut the GST on new homes up to $1.3M |
Low-interest, public-backed mortgages through CMHC |
Eliminate GST for first-time homebuyers under $1M |
|
Public Housing Initiatives |
Build 500,000 new homes/year by 2030 |
Sell off 15% of federal buildings for affordable housing |
Build 3 million affordable homes by 2030 |
Build 3 million affordable homes by 2030 |
|
Public Land Acquisition |
Set aside public land for affordable housing development |
Tie federal funding to municipal housing starts |
Double Public Land Acquisition Fund, invest $1B for rent-controlled homes |
Set aside federal Crown land to build 100,000 rent-controlled homes |
|
Rent Control & Tenant Protection |
No federal rent control, focus on affordable housing supply |
No specific rent control policies mentioned |
National rent control measures, increase funding to Rental Protection Fund |
Implement national rent control, use covenants to maintain affordability |
|
Speculative Practices |
No specific anti-speculation policies |
Focus on increasing housing supply through private sector |
Ban foreign buyers, limit house flipping |
Ban foreign buyers, close real estate loopholes for money laundering |
|
Covenants & Long-Term Affordability |
No specific mention of covenants |
No mention of covenants |
Use covenants to ensure public housing stays affordable forever |
Use covenants to ensure housing built with public money stays affordable forever |
|
Foreign Ownership |
No specific ban on foreign buyers |
No specific ban on foreign buyers |
Ban foreign buyers from purchasing residential properties |
Ban foreign buyers from purchasing residential properties |
|
CMHC Support & Mortgages |
Low-interest, public-backed mortgages via CMHC |
No specific CMHC-related policies |
CMHC to provide low-interest, public-backed mortgages |
No specific CMHC-related policies |
|
Municipal Accountability |
Tie federal funding to the number of housing starts |
Require municipalities to increase housing by 15% yearly |
Require municipalities to set targets for affordable housing |
No specific municipal accountability policies |
|
Affordable Housing Infrastructure |
Invest $74M for housing infrastructure in the North |
No direct mention of funding for infrastructure |
Investment in federal land and affordable housing construction |
Investments in public housing construction, utilizing Canadian materials |
Real estate platform strategies from each party
Liberals
1. Elimination of GST for First-Time Homebuyers
The Liberals propose eliminating the Goods and Services Tax (GST) on new and substantially renovated homes priced under $1 million for first-time homebuyers. This measure is expected to save Canadians up to $50,000, making homeownership more accessible.
Prime Minister of Canada
2. Creation of 'Build Canada Homes' (BCH)
A new crown corporation, Build Canada Homes, will be established to oversee affordable housing construction. BCH will focus on building homes at scale, particularly on public land, and will provide financing to catalyze a new housing industry. CTV News+2Wikipedia+2Liberal Party of Canada+2Liberal Party of Canada
3. Doubling Housing Construction
The plan aims to double Canada's rate of residential housing construction to nearly 500,000 new homes per year over the next decade, addressing the growing demand for housing.
CTV News
4. Significant Investments in Housing Infrastructure
The Liberals commit to investing $74 million to improve critical housing infrastructure, expedite housing development, and meet the increasing demand for affordable housing in the North. Additionally, $66 million is allocated to build, renovate, and repair homes across Nunavut.
Liberal Party of Canada
5. Financing for Prefabricated and Affordable Housing
The platform includes $25 billion in financing for prefabricated housing and $10 billion dedicated to affordable homebuilding, aiming to accelerate construction and reduce costs.
Wikipedia
For more details on the Liberal housing plan, you can refer to the following resources:
-
Official Announcement:
Mark Carney's Liberals unveil Canada's most ambitious housing plan since the Second World War -
Mark Carney's Speech:
Mark Carney unveils Liberal housing plan – YouTube -
Press Release:
Prime Minister Carney will eliminate GST for first-time homebuyers
Conservatives
-
GST Elimination on New Homes
The Conservatives propose eliminating the Goods and Services Tax (GST) on new home purchases under $1.3 million for all homebuyers, aiming to make homeownership more affordable . -
Incentivizing Municipalities to Build More Housing
Municipalities would be expected to increase the number of homes they build by 15% each year. Those that meet or exceed this target would receive additional federal funding, while those that fall short would see reductions in funding . -
Reducing Development Charges
The federal government would cover half the cost for municipalities that reduce development charges by up to $25,000 per unit, encouraging the lowering of fees that can hinder housing development . -
Repurposing Federal Buildings for Housing
The plan includes selling off 15% of federally owned buildings to convert the land into affordable housing units, aiming to utilize underused government properties to increase housing supply . -
Streamlining Approval Processes
A Conservative government would repeal certain environmental assessment laws to fast-track resource projects, including housing developments, thereby reducing bureaucratic delays .
For more detailed insights into the Conservative housing platform, you can watch the following speeches by Pierre Poilievre:
NDP
1. Permanent Ban on Foreign Homebuyers
The NDP proposes a permanent ban on foreign homebuyers to prevent speculation and keep homes accessible to Canadians. This ban would close existing loopholes, such as purchases through numbered companies or corporate proxies, and would not apply to recreational properties like cottages or cabins.
Canada's NDP
2. Expansion of the Anti-Flipping Tax
To discourage speculative flipping, the NDP plans to expand the current anti-flipping tax by taxing profits from residential properties sold within five years of purchase as income, unless the property is the owner's principal residence.
Canada's NDP
3. Doubling the Public Land Acquisition Fund
The NDP aims to redesign and double the Public Land Acquisition Fund, investing $1 billion over five years to build more rent-controlled homes. They also plan to set aside all suitable federal Crown land to build over 100,000 rent-controlled homes by 2035.
4. Accelerated Approvals on Federal Lands
To expedite housing development, the NDP proposes speeding up approvals on lands owned by the federal government, ensuring quicker construction of affordable homes.
NDP
5. Low-Interest, Public-Backed Mortgages via CMHC
The NDP would require the Canada Mortgage and Housing Corporation (CMHC) to offer low-interest, public-backed mortgages, making homeownership more accessible to Canadians.
6. Increased Funding for the Rental Protection Fund
To preserve affordable rental units, the NDP promises more money for the Rental Protection Fund, supporting non-profit organizations in acquiring and maintaining affordable housing.
For more insights into the NDP's housing platform, you can refer to the following resources:
-
Jagmeet Singh's Announcement on Foreign Buyers Ban:
Liberal Candidate Brags About Driving Up Housing Prices—Singh Responds with Crackdown -
NDP's Plan to Unlock Public Land for Affordable Housing:
The NDP will unlock public land to build more homes people can afford -
Jagmeet Singh's Speech on Tenant Protection and Rent Control:
Jagmeet Singh promises to protect tenants with national rent control
Green
1. Enshrining Housing as a Human Right
The Green Party asserts that housing should not be treated as a commodity but recognized as a fundamental human right. They aim to ensure that housing policies prioritize people over profits.
Green Party of Canada
2. Defining 'Affordable' Housing
To address the mismatch between market-defined affordability and actual incomes, the Greens propose that housing costs should not exceed 30% of a household's income. This standard would apply to all housing developed with public funds.
Green Party of Canada
3. Launching a Major Public Housing Initiative
The party plans to initiate the largest public housing construction program since the 1970s. This initiative aims to create local jobs, utilize Canadian materials, and provide genuinely affordable homes.
Green Party of Canada
4. Implementing Permanent Affordability Measures
The Greens propose using covenants to ensure that housing built with public funds remains affordable indefinitely, preventing future market-driven price escalations.
5. Restricting Corporate Acquisition of Single-Family Homes
To combat the trend of large corporations purchasing single-family homes, the party intends to implement policies that limit such acquisitions, preserving these homes for individual families.
6. Closing Real Estate Loopholes
The Greens aim to eliminate loopholes that allow real estate to be used for money laundering and to remove unfair tax advantages for Real Estate Investment Trusts (REITs).
Green Party of Canada
7. Promoting Intergenerational Co-Housing
The party supports the development of intergenerational co-housing models, fostering community living and mutual support across different age groups.
Jonathan Pedneault
In a recent video, Pedneault emphasized the urgency of the housing crisis,
YouTube
For more detailed information on the Green Party's housing policies, you can visit their official platform page:
Green Party Affordable Housing Plan
We're here to make it easy
No matter the outcome of the election, we are here to help you navigate the market dynamics and meet your real estate goals. We've been experts in local real estate through multiple elected leaders and a variety of shifting policies that affect homeowners, buyers and investors. Where things might seem confusing, we can be your partner in making it feel clear and simple. Call us to help you find the best properties on the market that will meet your goals and strategies today, and for a bright future ahead!