NDP Leader Andrea Horwath was in St. Catharines this morning to discuss the NDP's housing platform.
Horwath, along with Niagara MPPs Jennie Stevens, Jeff Burch and Wayne Gates, announced a platform that they say will help young workers and families afford their first new home.
"Parents are worried their kids won’t be able to afford to stay in St. Catharines, buy a home and settle in, like they did," said Horwath. "There are young people putting off growing their family because they can’t afford a bigger place. There are born-and-raised Niagara-region workers leaving because they can’t find a home in their price-range. It’s heartbreaking."
Included in the platform is an equity loan of up to 10 percent of the purchase price to help cover the cost of a down payment.
The loan would be provided by the Homes in Ontario Program, and it wouldn't need to be repaid until the owner chooses to, sells or moves.
The plan also includes a Non-Resident Speculation Tax to 20 percent, and it applies province-wide.
The NDP says it would allow more homes in Niagara for local residents by regulating short-term rentals while closing loopholes allowing breaks for wealth speculators.
Meanwhile, the Homes You Can Afford platform will also build 69,000 new affordable homes, provide rent assistance to 311,000 households, and provide increased protections for tenants in poor living arrangements.
According to the NDP, between June 2020 and June 2021, the median sale price of a house in St. Catharines jumped over 28 percent.
In Welland, the increase was about 35 percent, and in the Falls, it was 38 percent.
More details on the platform can be found here.
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