The CEO of the Ontario Real Estate Association says he would like to see Ontario introduce a program to support first-time buyers in the province.

Tim Hudak told Bloomberg that the announcement made by BC premier Christy Clark that first-timers will get match-funding for their downpayment savings would be a great move for young buyers.

The closing costs around paying the taxes, paying your lawyer, the move, all that kind of stuff, plus the deposit – you can’t finance that. And a lot of folks in their twenties and thirties don’t have that available,” Mr Kudak said.

He went on to say that any politician in Ontario that brought up the idea would find it very popular with millennials…and their parents.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: