MEASURES TO COOL HOUSING MARKET EXPECTED THURSDAY

Apr 19, 2017

By Bob Komsic

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Home hunters and renters will get details of the province’s housing measures Thursday morning – not in next week’s provincial budget as first thought.
Premier Kathleen Wynne’s set to unveil the plan with the housing and finance ministers at 9 a.m. in Liberty Village.
Speaking at an unrelated event Wednesday, Wynne said the measures are to give ”everyone some breathing space” in the frenzied market.
The measures will reportedly take aim at speculators, speed up the supply of more housing, tackle rental affordability and look at realtor practices.

The province is also set to collect more info on the housing market.

As of Monday, home buyers will be required to provide information about who they are, and how they intend to use the property.
This will be collected through the land transfer tax system.
On Tuesday, the federal and provincial finance ministers and mayor of Toronto met to discuss housing and agreed, in the short term, none of the levels of government will bring in new measures for home buyers that would increase demand, suggesting it was unlikely first-time buyers will see any incentives any time soon.
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