Prime Minister Justin Trudeau promises added incentives to the First-Time Home Buyers Incentive program, which provides Canadians up to 10 per cent off the purchase of their first home. (Kendra Crighton/News Staff)

Trudeau promises added incentives for first-time home buyers in Greater Victoria

Victoria, Vancouver and Toronto promised an increase in qualifying home prices to offset higher prices

The stage was set as the Liberal leader walked through a construction site in Royal Oak Thursday morning. From the seven Liberal candidates standing, smiling in the background to the three children with their parents playing beside the podium, the photo-ops were there and so was Justin Trudeau.

Opting to skip the first leaders’ debate on Day 2 of the election campaign, Trudeau was in Greater Victoria to announce added encouragement for the First-Time Home Buyers Incentive program, which provides Canadians up to 10 per cent off the purchase of their first home. If re-elected, the Liberal party promised to see the program expanded to give more help to people living in Greater Victoria or the greater Vancouver and Toronto areas, where the value of a qualifying home will be increased from $500,000 to nearly $800,000. In all three of those areas housing prices are up to 60 per cent higher than the national average.

READ ALSO: Minister says program promises help to first-time Victoria home buyers

In addition to the expanded incentives, is a one per cent annual tax for residential property owners who are not Canadian and do not live in Canada, on top of local taxes already in place. Canadians living abroad or permanent residents in Canada will not be affected.

Questioned as to why he didn’t tackle this issue in the budget, instead waiting for election time, Trudeau pointed to the National Housing Strategy launched in 2017 and added “there needs to be extra help” in certain areas where housing prices are significantly higher than the national average.

When asked why he was skipping the first debate of the federal election, taking place Thursday night in Toronto, Trudeau dodged the question by saying he was very happy to be in Victoria and was looking forward to being in Edmonton later in the day.

“I look forward to the opportunity to debate against my fellow leaders in the three occasions we’ll be doing this campaign,” Trudeau said.

READ ALSO: Liberals look to make home-buying more affordable for millennials: Morneau



kendra.crighton@blackpress.ca

Follow us on Instagram
Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

City of Victoria expecting a 2020 deficit between $12.5 to $17.5 million

Victoria lost $1.2 million per month just from reduced parking fees during onset of pandemic

Saanich police search for potential victims, witnesses after series of unprovoked assaults

Police are looking for more information about two incidents from June 12

PHOTOS: Small crowd gathers to watch 231-tonne stacker-reclaimer loaded onto barge

The Dynamic Beast barge crane, known for work with Johnson Street Bridge, makes a return

Greater Victoria Point-in-Time count finds over 1,500 people homeless

Capital Regional District says count should be treated as an underestimate

Newly appointed Resilient Saanich committee to weigh in on new environmental policy framework

Council selects nine members, First Nations representative position remains open

Alberta to require masks at schools this fall, but still no mandate in B.C.

B.C. students are also set to return to classrooms in September

30% of British Columbians would ‘wait and see’ before taking COVID vaccine: poll

Some are concerned about side effects, while others don’t think the virus is a big deal

Don’t leave your hand sanitizer in the sun and other tips to stay COVID safe this summer

Being mindful of staying outside and keeping hand sanitizer, sunscreen out of the sun recommended

What exactly is ‘old growth’ B.C. forest, and how much is protected?

Forests minister Doug Donaldson doesn’t support ‘moratorium’

Canadians can travel to Hawaii in September; no quarantine with negative COVID test

Travellers will be required to pay for their own tests prior to arriving

Crews work overnight to try to put out wildfire on Pender Island

Fire department and B.C. Wildfire Service crews extinguishing fire in ‘extremely difficult terrain’

Michael Buble among 13 British Columbians to receive Order of B.C.

Ceremony will be delayed to 2021 due to COVID-19

Most Read