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

Journey Middle School students try out the trades

Program is designed to expose students to career options

Victoria artist in residence seeks seniors to share stories of life with students

The meeting is part of an intergenerational project focusing on face-to-face conversations

Dozen Metchosin ‘barn cats’ on the hunt for new homes

Broken Promises Animal Rescue hoping to re-home feral cats

Victoria votes to slash sister city celebrations

Victoria will only celebrate its anniversary with Morioka, Japan this year

Shortlisted options for Beacon Wharf replacement cost between $6.3 and $14.2 million

Select committee will investigate various questions around proposed replacement of iconic wharf

Women take centre stage at NHL all-star skills competition

Canada beat the United States 2-1 in a spirited 3-on-3 game between female players Friday night

BCLC opens novelty bet on Harry and Meghan moving to the west coast

Meanwhile, real estate agency points to four possible homes for the family

Canada slips in global corruption ranking in aftermath of SNC-Lavalin scandal

The country obtained a score of 77, which places it at the top in the Americas

Wuhan bans cars, Hong Kong closes schools as coronavirus spreads

Hong Kong leader Carrie Lam said her government will raise its response level to emergency, highest one

Vernon woman suing McDonald’s for spilled coffee

Woman seeking nearly $10K, says employee failed to put lid on properly

Diners’ health tax not catching on in B.C., restaurant group says

Small businesses look for options to cover employer health tax

B.C. comic wins judgment after club owner slaps cellphone out of his hands

Incident happened last summer when Garrett Clark was performing in Abbotsford

VIDEO: Dashcam records driver’s near-miss near Sooke

Driver crossed four lanes of traffic and back over again, barely missing three other vehicles

Most Read