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.

As of January 1, 2025, the BC Home Flipping Tax has come into effect. Whether you're considering selling a condo in Burnaby North, buying a townhouse in Port Moody, or investing in a house in Vancouver, this tax may directly impact your real estate decisions. Below, we break down everything you need to know about this new legislation, including its implications, exemptions, and practical examples.

What Is the BC Home Flipping Tax?

The BC Home Flipping Tax, officially called the Residential Property (Short-Term Holding) Profit Tax, is designed to discourage short-term property speculation and promote housing stability. The tax applies to profits earned from the sale of residential properties held for less than 730 days (two years).

Who Does This Tax Impact?

• Homeowners: Those considering selling their homes within two years of purchase.

• Real Estate Investors: Especially those in the business of flipping properties for short-term gains.

• Potential Buyers: Understanding how this tax might influence the market is critical.

How Is the Tax Calculated?

The tax is based on net taxable income, which is the profit made from the sale after deducting eligible expenses. Here's a simplified example:

• Purchase Price: $600,000

• Selling Price: $700,000

• Eligible Expenses (e.g., closing costs, renovation expenses): $20,000

• Net Taxable Income: $700,000 - $600,000 - $20,000 = $80,000

If the property is sold within 365 days of ownership, the tax rate is 20%:

• Tax Owed: $80,000 x 20% = $16,000

The tax rate decreases for sales within the second year of ownership, eventually reaching 0% after 730 days.

Exemptions to the BC Home Flipping Tax

Certain life events and circumstances exempt individuals from this tax, including:

• Significant Life Changes: Divorce, death, severe illness, or job relocation.

• Commercial Properties: Properties used exclusively for business purposes.

• Indigenous Lands: Properties located on Indigenous lands (minimal impact in Burnaby and nearby areas).

FAQs About the BC Home Flipping Tax

1. Does the tax apply to all property types?
   Yes, the tax applies to houses, condos, and townhouses, among others.

2. Are first-time homebuyers affected?
   First-time homebuyers may still be subject to the tax if they sell within the two-year period.

3. Can renovation costs be deducted when calculating net taxable income?
   Yes, eligible renovation and closing costs can be deducted.

4. How do I file for an exemption?
   Exemptions require documentation and must be claimed when filing your tax return.

5. What happens if I fail to file or pay the tax?
   Penalties apply for late filing, with increased penalties for repeated offenses.

Why Does This Matter for Burnaby and Beyond?

In areas like Burnaby North, Burnaby South, and Burnaby East, as well as New Westminster, Vancouver, and Coquitlam, real estate activity often includes short-term transactions. Understanding this tax is essential for making informed decisions, whether you're selling a condo in Burnaby North or investing in a townhouse in Port Coquitlam.

How We Can Help

Every individual’s real estate goals are unique. Whether you’re planning to sell, buy, or invest, understanding how the BC Home Flipping Tax affects your specific situation is critical. Let’s discuss your goals and create a plan tailored to your needs. Contact us today to start the conversation.

In November of 2021, the BC Government announced its intent to introduce a “cooling off period” for British Columbian home buyers to address concerns with the precipitous pace of sales and price increases in the Lower Mainland housing market. 

They then tasked the BC Finacial Services Authority (the “BCFSA”) with researching and drafting a proposal for how to enact said “cooling off period” as best possible. Then, on April 25th, 2022, the BC legislation passed the Property Law Act Amendment enabling the creation of what is now formally known as the Home Buyer Recission Period.

The Home Buyer Recission Period will no be in effect as of January 3rd, 2023. This government regulation allows home buyers in British Columbia the right to release themselves from a Contract of Purchase and Sale - mutually agreed to by themselves and the selling party - without cause and a nominal cost anytime within 3 days of having entered said agreement to purchase real property.

Therefore, should a purchaser change their minds, for any reason, they may relinquish all liability they have to complete the agreed to contract should written notice be properly delivered to the Seller within 3 days of its acceptance time. In employing their right to do so, however, the purchaser will be liable to pay the seller an amount equal to 0.25% of the purchase price agreed to under the Contract of Purchase and Sale.

The intent of this regulation is to protect consumers during these significant financial transactions - particularly when the pace of the real estate market does not allow for great/proper amounts of due diligence and unconditional offers become the “norm” - that have the potential to have significant and long-term consequences on any individual.

This regulation of course as an impact on home sellers as well, which we won’t get into here, though, the BCFSA did take these possible negative impacts of this regulation into consideration when drafting and deciding upon this framework.

There are more specifics involved in the regulation including the types of properties that are excluded and the logistics for payment of compensation to the Seller. If you wish to learn more or have questions as to how this impacts your own position don't hesitate to reach out.