OREA CEO Tim Hudak Statement on Government of Ontario 2023 Fall Economic Statement

“With Ontario’s ambitious goal of building 1.5 million new homes across the Province, enabling supply and empowering our growing communities are more important than ever. The Ontario Real Estate Association (OREA) commends the Ford Government for introducing important measures to get more homes built in their 2023 Fall Economic Statement, many of which align with solutions that Ontario REALTORS^® have put on the table.

Removing HST on the construction of purpose-built rentals will encourage developers to build more places to live that people can afford. For years, OREA called on all levels of government to expand access to homes across the housing spectrum by removing GST and HST from the construction of rental buildings. After the removal of GST in September, we are pleased to see that the Ford government is continuing in the right direction.

OREA has always recognized that municipalities need support from the Provincial government to build new homes. Recommendations in our report Small Towns, Big Opportunities: Unlocking Growth in Ontario’s Rural and Northern Communities focus on pro-growth policies that seek to close the infrastructure gap for municipalities that need it most. OREA applauds the Ford government for creating a new Housing Enabling Water Systems Fund, which will assist municipalities across Ontario with developing the water systems that they need in their communities.

In addition, with the introduction of the Ontario Infrastructure Bank, the Province can now expand much-needed large-scale infrastructure projects across Ontario, focusing on long-term care homes, affordable housing, and infrastructure across many sectors, including energy and transportation. This will lead to strong communities and more homes being built, providing a strong foundation for future generations.

Finding a great place to live, grow, and raise a family is something that drives all of us. But in order to provide these opportunities, we need to create more housing supply across the spectrum. OREA commends Premier Doug Ford and Minister of Finance Peter Bethlenfalvy for introducing these measures to support growing communities across Ontario.”

– Tim Hudak, CEO, Ontario Real Estate Association