With the federal election happening this Monday April 28th, real estate activity across the Niagara Region is at a bit of s standstill. Buyers are out touring. Sellers are prepping. But offers? They're moving slower than usual.

Why? Because elections create uncertainty, and uncertainty creates hesitation.

Here's what we typically see around election time:

• Buyers delay offers and wait to make any decisions. Why?:

  • Hoping that the winning party will introduce new incentives or reduce borrowing barriers

  • They are unsure how the election will affect interest rates, even if the Bank of Canada remains technically independent

  • They are cautious about entering the market if a change in government might result in policy shifts that affect their buying power/affordability.

• Sellers pause listings, until there is more certainty that: 

  • Buyer demand will "bounce back" post-election

  • Any policy changes (such as tax credits) will expand the pool of active buyers 

  • New headlines shift away from politics and back to the market. 

• Investors hold off, looking for hints towards changes in:

  • Capital gains or income tax

  • Short-term rental regulations 

  • Zoning reform

  • Development incentives or disincentives

  • Tenant/landlord legislation shifts.

Even people who want to move on their plans are often saying: "Let's wait to see what happens first."

This year, housing has taken centre stage in most party platforms. 

Here's a breakdown of housing proposals: Liberal vs. Conservative:

🔴 Liberal Party Platform (Incumbent)

The Liberals are focused on increasing supply, targeting affordability, and offering direct incentives to first-time buyers.

Key promises include:

1. Doubling housing starts to 500,000 units annually

   • Through federal funding, public-private partnerships, and incentives for builders

   • Goal: Reduce pressure on resale prices and rental costs by building fast

2. Expanding the First-Time Home Buyer Incentive

   • Possible increases to tax credits, shared-equity support, or CMHC-backed programs

   • Makes ownership more accessible, especially in areas like Niagara with average prices under $700K

3. Releasing federal lands for housing

   • Turning government-owned sites (especially near transit) into residential developments

   • Could affect availability of new builds in places like Grimsby, St. Catharines, or Welland where land is limited

4. Tightening short-term rental rules

   • Limiting Airbnb-style platforms to principal residences in some areas

   • Could reduce investor interest in vacation properties across NOTL and Fort Erie

Implications for Niagara:
If implemented, these policies could increase local inventory and buyer incentives, but may also limit short-term rental income strategies. First-time buyers stand to gain the most.

🔵 Conservative Party Platform

The Conservatives are focused on free-market approaches, reducing regulation, and opening up development opportunities by cutting red tape.

Key proposals include:

1. Incentivizing municipalities to build faster

   • Tying federal infrastructure funding to housing approvals

   • Goal: Push cities to speed up permits, zoning, and infill density allowances

2. Encouraging private development

   • Reduced taxes and regulations for builders

   • Loosening zoning restrictions to allow more duplexes, triplexes, and fourplexes in low-density areas

3. Reviewing CMHC's role

   • Suggests re-evaluating Canada Mortgage and Housing Corporation’s mandate to increase private sector efficiency

   • Possibly fewer subsidies, but more room for market-driven solutions

4. Supporting investor ownership

   • No planned restrictions on short-term rentals, second properties, or multi-unit purchases

Implications for Niagara:
If elected, the Conservatives' approach could attract more developers to smaller communities like Thorold, Pelham, and Port Colborne by cutting down approval timelines. Investors and builders would likely re-engage quickly, while first-time buyers would see fewer direct supports.

So, What Should You Do?

If you're a buyer or seller in the Niagara Region right now, here's the takeaway:

• The election is likely delaying but not derailing the spring market.
• Once the results are in, we could see a short and sharp uptick in activity, especially if new policies are announced.
• Use this time to get prepared. Pre-approvals, listing prep, neighbourhood research, etc. So you're ready before the crowd returns. 

Making smart moves starts with smart advice. 

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