Ahead of the provincial election, Realtors across Ontario are urging all candidates to make the housing crisis an immediate priority.
The Ontario Real Estate Association, along with the Chatham-Kent Association of Realtors, has released its 2022 Election Housing Platform, containing several suggestions on how to address the housing affordability crisis in Ontario.
“We need a government that will act on our recommendations if we want to bring affordability within reach for many and save the dream of homeownership in this province,” said Amber Pinsonneault, the president of the Chatham-Kent Association of Realtors.
The association’s platform suggests doubling the Land Transfer Tax rebate for first-time homebuyers from $4,000 to $8,000, and using the Planning Act to end zoning laws that restrict the building of duplexes, triplexes and fourplexes in high-demand urban neighbourhoods.
The association also encourages the provincial government to require homebuyers to identify themselves to land-titled authorities to reduce instances of money laundering through real estate.
“Ontario’s housing affordability crisis is truly a province-wide problem and will not fix itself. We are at a turning point, and we need significant leadership from the government to ensure more Ontarians can find a great place to call home,” said Pinsonneault. “With housing at the forefront of this election, it’s now up to voters to decide which provincial political party they are supporting.”
According to the association, Ontario home prices have tripled over the last ten years, while the average household income has only increased by 38 per cent.
Out of the 36 housing markets in Ontario, 12 have an average home price of over $1 million.