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Ontario Introduces Next Steps to Support Housing Supply Growth

Further action will ensure province is ready to build more homes as market conditions improve

the Ontario government introduced the Helping Homebuyers, Protecting Tenants Act as it continues to take a responsible, targeted approach to deliver on its plan to build 1.5 million homes by 2031, while laying a strong foundation to make life easier and more affordable for people across the province.

If passed, the proposed changes would further strengthen homebuyer protections, support tenants and streamline the rules around land-use planning.

“Our government has made real progress in tackling Ontario’s housing supply crisis, with current housing starts remaining above historic averages”, said Steve Clark, Minister of Municipal Affairs and Housing. “Like the rest of North America, Ontario is experiencing challenging headwinds that are slowing down new home construction, including inflation, soaring interest rates and labour shortages. Despite these challenges, our government will continue to take action to ensure Ontario is ready to build more homes as market conditions improve.”

Full details here

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