Statement from OREA CEO Tim Hudak re: 2017 Ontario Budget

“Ontario Realtors had set one major goal for the 2017 Budget – ensuring the Canadian Dream of home ownership would stay within reach for the next generation.

We put a number of pro-home ownership proposals before Premier Wynne and Finance Minister Sousa and we’re very pleased to see those ideas reflected in today’s Budget. Ontario Realtors have been urging the province to streamline the home development approvals process and we got that commitment today.

The Ontario Government also incorporated our advice to build more ‘missing middle’ housing types, like semi-detached, townhomes and stacked townhomes in the province. ‘Missing middle’ housing is affordable for first-time buyers and young families and also an attractive option for empty nesters looking to stay close to their grandchildren.

Right now one of the barriers to building new homes is the lack of land serviced by critical infrastructure. Ontario Realtors strongly recommend that some of the infrastructure spending announced today be put towards servicing housing ready land. You can’t buy a house if you can’t flush the toilet. This is where the province can support new housing supply by streamlining the process and targeting infrastructure funds to water, sewer, road and rail projects that will unlock the potential of housing ready land.

The Government listened to OREA’s call for a full review of the Real Estate and Business Brokers Act, 2002 (REBBA) to raise the standards of Ontario’s real estate profession. We are committed to working with the government to help strengthen our sector and make Ontario a North American leader when it comes to real estate professionalism and education.”