🏡 What the New Government Could Mean for Canadian Real Estate

Disclaimer: While for many of us here in Alberta, the recent election outcome wasn’t quite what we had hoped for, this newsletter isn’t about politics — it’s about keeping you informed. Regardless of where you stand, my goal is to help you understand what the newly elected Prime Minister says he plans to bring to the housing market.

🇨🇦 A New Era Under Prime Minister Mark Carney

With Mark Carney now sworn in as Canada’s Prime Minister, there’s growing interest — and uncertainty — around how his administration will shape the future of Canadian real estate. As a former Governor of the Bank of Canada and Bank of England, Carney brings a strong economic background to the role, and his early policy signals have focused on housing supply, affordability, and rebalancing immigration targets.

🏘️ Housing: Focus on Affordability and Supply

The Carney government has announced intentions to tackle Canada’s housing crisis by:

  • Removing the GST on new homes for first-time buyers (up to $1M), potentially saving buyers tens of thousands.

  • Doubling the rate of home construction, aiming for 500,000 new homes per year to increase supply and ease demand.

These steps are meant to improve affordability, though the timeline and logistics will depend heavily on coordination with provincial and municipal governments — as well as how quickly builders can mobilize.

🌍 Immigration: A Calibrated Approach

Canada’s population growth — fuelled by immigration — has been one of the key pressures on housing supply.

The new government has proposed:

  • Capping temporary residents to 5% of the total population by 2027

  • Limiting permanent resident targets to 1% of the population annually (approx. 400,000 people)

The idea is to align immigration with Canada’s housing and infrastructure capacity, to ensure stability and sustainable growth in our communities.

While immigration has long been essential to Canada’s economic and cultural growth, the pace in recent years has outstripped our ability to build enough homes — contributing to affordability challenges in many markets.

🔍 What This Means for Buyers, Sellers & Investors

If these policies are implemented as planned, we could see:

  • A gradual easing of price pressure in overheated markets

  • More inventory coming online in the pre-construction and resale space

  • Increased incentives for first-time buyers

  • Moderated demand growth, giving supply a chance to catch up

That said, these shifts won’t happen overnight. As always, real estate remains a long-term game, and timing, location, and product type will continue to matter.

🗣️ Let’s Talk Strategy

Whether you’re looking to buy, sell, or invest, I’m here to help you navigate this evolving market. If you have questions or want to know how these changes could affect your situation specifically, feel free to reach out.

Let’s make a game plan that works — no matter what the market throws our way.