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Ontario’s Fair Housing Plan

Apr 26 2017

Ontario’s Liberal government announced, earlier this month, the Ontario’s Fair Housing Plan which will influence the following:

  • Increase affordability while cooling—or alternatively stabilizing—runaway housing market
  • Help more people find affordable homes
  • Increase supply
  • Protect buyers and renters
  • Bring stability to the real estate market

Plan includes:

  • Actions to Address Demand for Housing

Implement a new 15-per-cent Non-Resident Speculation Tax (NRST) on the price of homes in the Greater Golden Horseshoe (GGH) purchased by individuals who are not citizens or permanent residents of Canada or by foreign corporations.

  • Actions to Protect Renters

Expanding rent control to all private rental units in Ontario.

Ensure increases in rental costs can only rise at the rate posted in the annual provincial rent increase guideline.

  • Actions to Increase Housing Supply

Establishing a program to leverage the value of surplus provincial land assets across the province

Develop a mix of market housing and new, permanent, sustainable and affordable housing supply.

Provincial government hopes this plan will increase affordability while cooling—or alternatively stabilizing—runaway housing markets

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