A Place to Call Home

We will make it easier for more people to buy their first home.

For many young people starting their careers,saving up enough to make a down payment on a home is a far-off dream – and for ten years, Stephen Harper’s Conservatives did nothing to address this growing problem.

To help more people buy their first home, we will move forward with the new First-Time Home Buyer Incentive, which gives people up to 10 percent off the purchase price of their first home. We will also increase the qualifying value to nearly $800,000 in the places where houses cost more – like the greater Toronto, Vancouver, and Victoria regions. Asmarket dynamics change in different regions, the program will be adjusted to reflect those realities.

To limit the housing speculation that can drive up home prices, we will also put in place a consistent national tax on vacant residential properties owned by non-Canadians who don’t live in Canada.

And we will work with interested provinces,territories and communities to establish a national approach to beneficial ownership so that law enforcement and tax authorities have the tools necessary to crack down on financial crime inthe real estate sector, while respecting Canadian privacy rights.