Let’s face it: Today’s new-home buyers are looking for enhanced affordability and a quicker turnaround to take possession of their new digs. After years of new-home builders and developers asking government to intervene in the bureaucracy that has held up new home building unnecessarily, the Province of Ontario has introduced Bill 17 (Protect Ontario by Building Faster and Smarter Act, 2025). The aim of this Bill is to standardize, simplify and streamline development processes to fast-track infrastructure (such as transit, roads and water systems) and new home and condominium communities. It is also designed to cut down on the exorbitant development charges that can add up to 35 per cent onto the price of new homes.

Conditions that help builders and developers

We need to add more than two million homes over the next decade to accommodate increasing demand, so this government action is welcome by both consumers and the industry. Cutting down on the time it takes to get municipal approvals means builders can deliver homes more quickly and at more affordable prices.

Contrary to what you might think, the Bill does not require the province to build homes, but rather to partner with municipalities to create conditions that will help builders and developers construct the needed infrastructure and homes more efficiently. Currently, most bottlenecks preventing the best outcome for efficiency happen at the municipal level.

With that in mind, among the Bill’s measures are:

• Standardization of Ontario Building Code across the province to work toward eliminating much red tape, thus bringing homes and condos to market faster
• Working with municipalities to streamline permits and approvals to reduce costs and expedite projects, particularly around transit corridors
• Enabling fewer studies by municipalities, again eliminating red tape
• Standardizing Official Plans across the province so approvals can be achieved more efficiently. (In most cases, these timelines involve the builder/developer submitting detailed plans to the appropriate municipalities, as well as city staff reviews, public consultation meetings, and a council vote – all of which can take up to two years and more, which results in home prices rising yet again)
• Accelerating the building of infrastructure such as roads, transit and water systems

The Bill has a lot of support from homebuilder associations at all levels, and the municipalities of Mississauga and Vaughan have already taken steps to drastically reduce development charges on new houses and condominiums.

Need change now

On the federal level, we would like to see the recent GST reduction for first-time buyers expanded to include everyone purchasing a new home or condominium. In addition, we prefer that the ban on foreign investment in real estate be lifted. We need investment here in Canada, as most major cities in the world are built on investor money.

The bottom line is that we need change now to prevent more people leaving Ontario because of the lack of affordability and supply when it comes to housing. Bill 17 may not be a magic bullet, but it is a definite step in the right direction that will benefit us all.