Housing affordability, homeownership, and rental supply are key issues in the lead-up to Canada’s federal election on April 28, 2025. This guide provides a clear, factual, and non-partisan summary of what each major political party is proposing when it comes to real estate, housing, and rental markets—topics that directly affect Canadian homeowners, renters, and industry professionals.

✅ This post is strictly non-partisan.
To ensure neutrality, parties are listed in alphabetical order by party name, not by polling data, seat count, or leadership.

🟦 Conservative Party of Canada

Overall Focus: Cut red tape, lower taxes, and boost private-sector-led housing supply.

Key Proposals:

• Homebuilding Incentives: Require cities with high housing prices to increase homebuilding by at least 15% per year to maintain federal infrastructure funding. Municipalities exceeding targets receive bonuses.

• Zoning Reforms: Make federal transit and infrastructure funding conditional on allowing higher-density housing near transit.

• Federal Land Use: Sell at least 15% of federal real estate (e.g., office buildings, unused land) to build homes.

• Streamlining: Cancel the Housing Accelerator Fund and replace it with direct permit and approval incentives.

• Red Tape Reduction: Cut 25% of federal red tape and pass a law requiring the elimination of two regulations for every new one introduced.

• Skilled Trades Support: Bring back $4,000 apprenticeship grants and create 350,000 new skilled trades training spaces.

Homeownership & Affordability:

• Remove GST on new homes up to $1.3 million, saving buyers up to $65,000.

• Restore the full $5,000 Home Buyers’ Tax Credit.

• Extend amortization to 30 years for first-time buyers.

• Allow 7–10 year fixed-rate mortgages.

• Expand TFSA limits to $12,000 annually.

• Defer capital gains tax when reinvested in Canada.

Rental Housing:

• Support private investment in purpose-built rental housing by easing regulations and removing GST.

• Offer support to charities and Indigenous communities building rental units.

Foreign Buyers & Speculation:

• Maintain or extend the foreign buyer ban.

• Enforce transparency in beneficial ownership.

• Tighten anti-speculation measures.

🔗 Visit the Conservative Party website

🟩 Green Party of Canada

Overall Focus: Public housing, long-term affordability, and ending corporate profiteering in the rental market.

Key Proposals:

• Public Housing Expansion: Launch the largest public housing program since the 1970s.

• Affordability Standard: Redefine “affordable” housing as costing no more than 30% of household income.

• Permanently Affordable Housing: Use legal covenants to ensure affordability in publicly funded projects.

• Market Regulations:

  • Ban corporate acquisition of low-density housing.

  • Eliminate tax breaks for REITs.

  • Strengthen rules to prevent real estate speculation and money laundering.

Rental Market & Tenant Support:

• Declare a national housing affordability and homelessness emergency.

• Implement a national moratorium on evictions and introduce rent arrears support.

• Increase the Canada Housing Benefit.

• Provide supportive housing with wraparound services (mental health, addiction care).

• Work to eliminate homeless encampments through housing-first policies.

🔗 Visit the Green Party website

🔴 Liberal Party of Canada

Overall Focus: Federal leadership in homebuilding, financial supports for buyers, and zoning reform.

Key Proposals:

• Build Canada Homes (BCH): A new federal agency to directly develop housing, including on public land.

• Construction Target: Nearly 500,000 new homes per year.

• Prefabricated Housing Support: $25B in financing for mass timber and innovative homebuilders.

• Affordable Housing Financing: $10B in low-cost loans, including $6B for deeply affordable supportive housing.

• Housing Accelerator Fund: Continued funding to municipalities that fast-track zoning and permitting.

• Building Code Simplification: Faster approvals through streamlined federal standards.

Homeownership:

• GST eliminated on homes under $1 million for first-time buyers.

• Extend insured mortgage amortization to 30 years for new-builds.

• Tax-Free First Home Savings Account available.

• Maintain the $10,000 First-Time Home Buyers' Tax Credit.

• Propose a Home Buyers’ Bill of Rights to ban blind bidding and ensure inspections.

Rental Housing:

• Expand the Canada Housing Benefit.

• Continue GST removal on new rental projects.

• Collaborate with provinces to protect tenants' rights (while respecting provincial jurisdiction).

Foreign Buyers & Speculation:

• Extend the foreign buyer ban to 2027.

• Maintain the 1% vacant property tax on non-resident-owned homes.

• Enforce the anti-flipping tax for properties sold within 12 months.

🔗 Visit the Liberal Party website

🟠 New Democratic Party (NDP)

Overall Focus: Massive public investment in affordable housing, tenant protections, and curbing corporate control of rentals.

Key Proposals:

• 3 Million Homes by 2030, including:

  • 500,000 affordable homes.

  • 100,000 rent-controlled homes on federal land.

• Dedicate all suitable federal land to housing development.

• Double the Public Land Acquisition Fund to help build more non-market homes.

• Create a Community Housing Development Bank to finance Indigenous, co-op, and nonprofit housing.

• Replace the Housing Accelerator Fund with a permanent $16B housing strategy.

Rental Market & Tenant Rights:

• National rent control standards tied to federal funding.

• Immediate rent subsidies for people spending too much of their income on rent.

• Ban renovictions, demovictions, fixed-term leases, and rent price collusion.

• Expand the federal vacancy tax.

• Tax profits from flipped homes sold within 5 years as income (unless principal residence).

• Create a fund for nonprofits to buy at-risk rental buildings.

Homeownership:

• CMHC to offer low-interest, public-backed mortgages to eligible first-time buyers.

Foreign Buyers & Speculation:

• Permanent foreign buyer ban, including numbered companies.

🔗 Visit the NDP website

🟣 People’s Party of Canada (PPC)

Overall Focus: Reduce demand by curbing immigration, eliminate government housing programs, and allow market-led correction.

Key Proposals:

• Freeze Immigration: Temporary halt on new permanent residents; later capped at 100,000–150,000/year.

• Eliminate CMHC and federal housing subsidies.

• Repeal Buyer Grants & Retrofits: End all first-time buyer grants and energy retrofit programs.

• Respect Local Zoning: Oppose federal involvement in municipal land use planning.

• Anti-Speculation Measures:

  • Support provincial restrictions on foreign buyers.

  • Work with provinces to combat money laundering in real estate.

🔗 Visit the PPC website

🏢 Industry Perspectives

CREA & BCREA

• Advocate for supply-focused policies and tools to support homeownership.

• Endorse extending the ban on non-resident buyers.

• Recommend a national expert roundtable to review new housing policies before implementation.

📌 Final Word

Canada’s housing crisis is complex, and the federal election brings several competing visions on how to address it. Whether you’re a buyer, seller, investor, or renter, this guide is designed to keep you informed and equipped with facts that directly affect your real estate decisions.

🔍 For the full, official platforms, visit the party websites listed above.

On September 4, 2024, the Bank of Canada cut its key interest rate to 4.25%, marking the third consecutive reduction this year. While many expected this move, it leaves Canadians—especially those considering buying or selling real estate—wondering what does this mean for me?

Understanding the Rate Cut

This rate cut directly impacts borrowing costs, with most lenders lowering their prime rates to 6.45%. Variable-rate mortgages and home equity lines of credit (HELOCs) will see immediate relief, making borrowing more affordable for homebuyers​. However, fixed-rate mortgages are influenced by bond market movements, and this cut could put downward pressure on those rates as well​.

What Buyers Should Know

For buyers, this is promising news. Lower borrowing costs may help improve affordability for those entering the market. Whether you're looking at condos in Burnaby, homes in Vancouver, or townhouses in New Westminster, now may be a good time to explore your options. But remember, mortgage rates are still higher than pre-pandemic levels, so it’s important to factor in your long-term financial goals.

And while more cuts are expected in October and December, world events or inflation could change the pace. It’s always wise to base decisions on your current situation rather than relying on predictions​

What Sellers Should Know

For sellers, the rate cut might bring more buyers back into the market as affordability improves. More buyers mean potentially stronger demand, especially for townhomes and condos, where activity has been steady. If you’re considering selling your home in Vancouver or New Westminster, this could be a good time to get it on the market. Keep in mind that every property and neighborhood is unique, so while market trends matter, your personal goals and the condition of your property are key factors.

Looking Ahead: Future Rate Announcements

The Bank of Canada is scheduled to meet again in October and December, with economists anticipating further cuts that could bring the rate down to 3.75% by year-end​. But nothing is set in stone. Inflation, economic performance, or geopolitical events could change the direction, so while it’s valuable to stay informed, making decisions based solely on predictions isn’t always wise.

What Should You Do?

Whether you’re buying a condo in Burnaby, selling a house in Vancouver, or considering both, understanding how rate changes affect you is crucial. Real estate is a complex market, and every decision should be tailored to your individual situation. As the All Seasons Real Estate Agent, with 18 years of experience in navigating market ups and downs, I’m here to help you understand the market and create a plan that works for you.