Market update November 2024: BoC rate cut affects renters above buyers
It seems Bank of Canada's fourth interest rate cut and the fall in inflation will hit the rental market harder than the sales market.
Ford’s approach to housing remains focused on increasing supply, with several measures aimed at accelerating construction:
The PC government believes cutting red tape and incentivizing construction will help bring affordability back to Ontario's housing market.
Additionally, the PCs have capped rent increases at 2.5% for two years but continue to exempt all units built or first occupied after November 15, 2018 from rent controls, claiming it will encourage more rental development.
Beyond housing, Ford has taken a strong stance against US tariffs, vowing to “fight tooth and nail” to protect Ontario’s economy and jobs.
Find the full details on Ford’s third-term policies here.
As his new term begins, Ontario’s property managers, investors, and renters will be watching closely to see if these policies truly move the needle on affordability.
More government headlines
Full text: Read Ontario Premier Doug Ford's third election victory speech – National Post
Trudeau resigns: what’s next for Canada’s housing market? – PayProp blog
Northern Ontario political voices urge people to be strong in the face of Trump tariffs – CBC
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