Conservatives
- Aim to have one million homes built across the country in the next three years
- Ban foreign investors not living in or moving to Canada from buying homes for a two-year period, encourage foreign investment in affordable purpose-built rental housing
- Encourage new market in seven-to-10-year mortgages to “provide stability” for first-time homebuyers and lenders
- Will not tax Canadians’ capital gains on the sale of their principal residence
- Adjust mortgage stress test to “stop discriminating” against small business owners, contractors and other non-permanent employees, including casual workers
Liberals
- Commit $1 billion in loans and grants towards rent-to-own projects
- Introduce tax-free First Home Savings Account, which allows Canadians under 40 to save up to $40,000 toward their first home with no requirement to repay it
- Give Canadians option of deferred mortgage loan as alternative to shared equity model and reduce monthly mortgage costs
- Double the First-Home Buyers Tax Credit from $5,000 to $10,000
- Reduce monthly mortgage costs by reducing price charged by Canadian Mortgage and Housing Corporation on mortgage insurance by 25 per cent. Liberal Party says this will save “a typical person” $6,100.
- “Build, preserve or repair” 1.4 million homes in the next four years
- Ban blind bidding
- Ban new foreign ownership for the next two years
- Expand the upcoming tax on vacant housing
- Halt so-called renovictions by “deterring” unfair rent increases
NDP
- Introduce 30-year terms on mortgages insured by Canada Mortgage and Housing Corporation
- Pledging 500,000 “quality, affordable” housing units within 10 years
- 20 per cent tax on homes purchased by foreign buyers
- Waive federal portion of GST/HST on construction of new affordable rental units
- Double homebuyer’s tax credit to $1,500
Bloc Québécois
- Invest one per cent of the Federal government’s annual revenue into social housing
- Convert all unused federal properties in affordable social housing to fight the housing crisis
- Introduce a new tax on real estate speculation
Greens
- Appoint a housing advocate to ensure action within infrastructure of the federal government
- Strengthen regulations in order to limit foreign investment and put an end to “predatory practices” in residential real estate
- Refocus the core mandate of the Canada Mortgage and Housing Corporation towards supporting development of affordable non-profit and co-operative housing