Posts Tagged ‘Canadian housing policy’
CHBA applauds federal-Ontario plan to support municipal development charge reductions
CHBA welcomes today’s federal announcement to work with Ontario to support the reduction of municipal development charges (DCs) by up to 50%. More deals with other provinces are expected to come.
Read MoreFederal funding for provinces a step toward supporting homeownership affordability
CHBA is encouraged to see the federal government acknowledge that support for the construction of market-rate housing ownership is needed, via today’s introduction of Bill C-26, and emphasizes that strong accountability measures will be critical to ensure these funds are used effectively.
Read MoreCanadians Support Expansion of GST Relief on New Housing
Public opinion research conducted by Abacus Data for CHBA shows Canadians feel the recently passed Bill C-4 is a step toward improving housing affordability, but also that Canadians want and would support more GST relief on new housing.
Read MoreGST relief for first-time home buyers now in effect
After almost a year since the Prime Minister announced the government’s intention to remove the GST on new homes under $1 million and lower it on homes between $1 million and $1.5 million for first-time buyers, Bill C-4 (the bill containing the legislation) has finally received Royal Assent.
Read MoreRenovators expect challenging market conditions ahead: Insight from Canada’s first Renovation Market Index Release
CHBA has released a new research and economics product focused on Canada’s residential renovation industry. The new CHBA Renovation Market Index (RMI) provides an indicator of the current and future health of the sector, and the inaugural results show renovators expect challenging market conditions ahead.
Read MoreNew home selling conditions reach a critical low point for future industry capacity
CHBA’s Q4 2025 Housing Market Index results continue to raise red flags, signaling even fewer future housing starts for homeownership and warning of diminished long-term industry capacity if layoffs continue and strategic action is not taken to help the market rebound soon.
Read MoreGST Rebate for First-Time Home Buyers finally passes through House of Commons but Senate Rises before Passing
Bill C-4, which contains the GST Rebate for First-Time Home Buyers, has passed through the House of Commons. However, the Senate has now also been adjourned for winter recess and will not return until February 3, which means GST relief remains on hold and will not come to home buyers in 2025.
Read MoreParliamentarians set to end the year by giving more bad news to prospective homebuyers as GST rebate still not passed
Homebuyers wishing to get GST relief to move forward and buy a new home in the new year will instead be let down by a government professing to be concerned with affordability. Parliament is set to rise for winter break, once again having missed many opportunities to prioritize passing Bill C-4, which contains the long-promised GST rebate for new homes. The lack of action is keeping would-be buyers on the sidelines, amplifying Canada’s housing supply crisis, and further hurting a struggling home building industry.
Read MoreHomeownership Dreams Dimming as Policy Gaps and Layoffs Shake Industry
CHBA’s Q3 HMI shows Canada’s housing market faces record-low builder confidence, declining homeownership starts, and rising layoffs, as policy gaps and economic pressures shake the industry.
Read MoreCanadians still waiting for the removal of GST on new homes
Bill C-4 was introduced back in May to remove the GST for first-time buyers on homes under $1 million and lower it on homes between $1 million and $1.5 million. It needs to be passed and implemented immediately, and the exemption should be expanded to all buyers.
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