From tax breaks to new construction promises, candidates pitch plans to take on housing crisis
Housing policies will play a critical role in determining how Canadians cast their ballots in Monday’s federal election, according to a new study by Royal LePage.
The study, which surveyed 2,417 adults across Canada in April, found that 55% said a political party or candidate’s housing platform would influence their vote. Younger voters were even more engaged with the issue, with 72% of Gen Z (aged 18 to 28) and 59% of Millennials (aged 29 to 44) saying housing would impact their decision.
“While much of the discussion has been centred on navigating the rough waters of the US trade conflict, housing affordability has re-emerged as a major priority this election cycle,” Phil Soper, chief executive of Royal LePage, said in a press release. “For young Canadians in particular, there is a clear demand for a leader who can support their goal of achieving homeownership.”
Addressing housing issues as key election promise
Despite the broader economic turmoil and trade conflicts dominating headlines, housing ranked as Canadians’ third most important election concern, following the economy and cost-of-living (86%) and health care (75%). In Vancouver, where housing costs are the highest in the country, it was rated as the second most important issue, ahead of health care.
Political parties have proposed various initiatives aimed at making housing more accessible, a report from Financial Post highlighted. The Liberals have pledged to eliminate the GST for first-time homebuyers on properties valued at up to $1 million, while the Conservatives have proposed scrapping the tax on new home sales priced up to $1.3 million.
The Conservatives have also committed to building 2.3 million new homes over five years by reducing development taxes and incentivizing municipalities. The Liberals have said they plan to double the pace of residential construction over the next decade, supported by measures such as providing low-cost financing to developers of affordable housing.
“Initiatives that support young families and first-time buyers, especially in high-cost markets, have been proposed across the political spectrum,” Soper said. “But tackling Canada’s chronic supply shortage will take more than short-term solutions.”
Soper added that although market conditions have shifted — with lower interest rates and increased inventory — many young voters feel these changes are not enough. He called for “bold, coordinated action and long-term planning from all levels of government” to turn homeownership into a reality for more Canadians.
Canadians head to the polls today (April 28).
How could housing policies influence voters’ decisions? Share your insights in the comments below.
