UDI has long been concerned with providing affordable housing options to Nova Scotians. We closely watch government rules and regulations which may impact on affordability, and lobby for changes which will allow more first time home buyers into the market. Here are some of our initiatives:
Will Dunning Report: This UDI commissioned report showed that government imposed charges could skyrocket to $25,000 per door in Halifax Regional Municipality (HRM) driving up the cost of home ownership. View the full report here.
HST Rebate for first time home buyers: See our 2014 letter to the Department of Finance for an outline.
National Mortgage Rules: In 2016 new Federal mortgage regulations designed to cool overpriced housing markets in Vancouver and Toronto came into effect. UDI believes these regulations adversely affect smaller markets such as HRM, and lobbied to have the regulations and their effect reviewed. In 2017 UDI Director David Graham travelled to Ottawa to present on UDI’s behalf to the Standing Committee on Finance (FINA) as part of their study on the Canadian Real Estate Market and Home Ownership. UDI was one of a number of organisations invited from across Canada to present on this issue. We believe our message was well received, and look forward to hearing the results of the study. A recording of the hearing is available online; to listen to David Graham’s presentation please visit https://www.youtube.com/watch?v=CTOJ0SkrGnQ&t=2s, or click here to hear the full session.
Housing Market Policies for Canada: UDI Board member David Graham co-authored a paper with Policy Scotland’s Duncan MacLennan – view the paper on Policy Scotland’s website at https://policyscotland.gla.ac.uk/housing-market-policies-canada-short-term-measures-system-challenges/.