Ontarians back the foreign buyers’ tax, call for more affordability action

Most Ontario residents are in favour of the foreign buyers’ tax and want the government to do more to tackle affordability issues in the province.

New research from Ipsos, commissioned by Ontario Real Estate Association, Ontario Home Builders’ Association and Federation of Rental-Housing Providers of Ontario, found that 81 per cent of respondents support the introduction of Non-Resident Speculation Tax.

The poll also revealed that 85 per cent of Ontarians want home affordability to be a key issue on party platforms for the 2018 election. This rises to 90 per cent among millennials with 88 per cent saying they would be more likely to vote for a party that promotes home affordability.

Almost two thirds of respondents say that tackling housing supply must be tackled by the provincial government by reducing regulations, again millennials are slightly higher in this regard.

"Ontarians still believe in the dream of home ownership, but the challenges of today's housing supply keeps pushing their dream beyond reach. If political parties are serious about improving housing affordability, they need to let voters know how they're going to help Ontarians achieve their dream," said Joe Vaccaro, Chief Executive Officer, OHBA.

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