As Ontario approaches the 2025 federal election on April 28, the province’s housing market stands at a pivotal juncture. The interplay between federal policies, economic uncertainties, and party platforms will significantly influence housing affordability and availability.
Current Housing Market Dynamics
In March 2025, the Greater Toronto Area (GTA) experienced a 2.4% seasonally adjusted decline in home sales, following a steeper 28.5% drop in February. The Home Price Index decreased by 1.4% to C$1,050,200, marking the third consecutive month of price reductions. Jason Mercer, Chief Market Analyst at the Toronto Regional Real Estate Board, attributes this slowdown to trade uncertainties and the impending federal election.
Federal Election’s Influence on Housing
The upcoming election is heavily influenced by U.S. President Donald Trump’s imposition of a 10% baseline tariff on all U.S. imports, which has heightened economic tensions. In response, Prime Minister Mark Carney called for a snap election to secure a mandate to address these challenges. The election’s outcome will shape federal policies on trade and economic strategies, directly impacting Ontario’s housing market.
Party Platforms on Housing
- Liberal Party: Led by Mark Carney, the Liberals propose eliminating the provincial land transfer tax for first-time buyers, seniors downsizing, and non-profit home builders, potentially saving homebuyers an average of $13,500. They also plan to scrap development charges on middle-class housing and replace them with a Better Communities Fund to ensure sustainable municipal growth. Additionally, they propose phased-in rent control and faster resolution times for landlord-tenant disputes.
- Conservative Party: Under Pierre Poilievre, the Conservatives emphasize banning foreign investors from purchasing homes unless they intend to live in Canada, aiming to curb speculative buying. They pledge to build a million homes over three years, release 15% of federal real estate for housing, and support extended mortgage terms to improve affordability.
- New Democratic Party (NDP): The NDP focuses on tenant protections and affordability, proposing a 20% tax on home sales to foreign buyers and doubling the first-time home buyer’s tax credit. They aim to build 500,000 affordable housing units over ten years and waive the federal portion of the GST/HST on the construction of affordable rentals.
- Green Party: The Greens advocate for declaring housing and homelessness as national emergencies. They propose implementing an empty home tax on foreign- and corporate-owned vacant properties, restoring tax incentives for building purpose-built rental housing, and investing in the construction and operation of 50,000 supportive housing units over ten years.
Implications for Ontario’s Housing Market
The election’s outcome will determine the federal approach to housing affordability, supply, and foreign investment. Policies addressing trade tensions and economic stability will also influence market confidence and investment. Voters should consider how each party’s platform aligns with their housing needs and the broader economic context.
As the election approaches, staying informed about party policies and their potential impact on the housing market is crucial for making informed decisions.
If you’re feeling uncertain about what the 2025 federal election could mean for your home’s value or the housing market overall, SLG Home Buyer is here to help. Whether you’re downsizing, relocating, or just looking to sell quickly without the hassle of showings, repairs, or agent fees, we buy properties in any condition across Ontario. No matter what the market is doing, we offer a simple, stress-free way to sell your home fast—on your timeline. Reach out to SLG Home Buyer today and see how easy selling your property can be.