CONSERVATIVE PARTY WINS SECOND STRAIGHT MAJORITY IN NOVA SCOTIA ELECTION
Nova Scotians have reelected the Progressive Conservative Party with a large majority in a victory for a political platform that includes trying to make home buying easier for some residents.
As the final counting of votes occurred Wednesday, members of Premier Tim Houston’s PC Party won outright or were leading in 43 electoral districts. The NDP captured nine seats and the Liberal Party only two. An independent candidate is poised to hold one of the 55 seats in the Nova Scotia Legislature.
It is the second straight majority mandate for Progressive Conservative Party Premier Tim Houston, whose campaign promises included a plan to extend the Small Business Loan guarantee program. The party also wooed homebuyers with a pledge to reduce the minimum down payment for a home of $500,000 or less to 2% from 5%, with backing from credit unions.
“Nova Scotians made a choice, and they chose our team,” said Houston in his victory speech. “This is the start of the next phase of the Nova Scotia journey. We will make a lot happen with this mandate.”
The Conservatives said they had already overseen 26,000 housing starts as part of a goal of reaching 41,200 housing starts by 2028. The party also pledged to reduce taxes on small businesses from 2.5% to 1.5% and to allow more businesses into the category.
The electoral result has killed an initiative embraced by both the NDP and Liberals to create a landlord-tenant board with authority to govern residential rental disputes in the province.
Housing was a major issue in the election, as the province has seen rents rise and apartment vacancies decline to 1% since 2021. Average apartment rents in the province rose to $1,538 in 2023, over $600 higher than the $936 of 2014, according to the economic development organization known as Halifax Partnership.
The result was a significant loss for the Liberal Party of Nova Scotia that’s led by Zach Churchill. The Liberals offered an extensive list of housing-related promises in its election platform, including a pledge to add 80,000 homes in the province by 2032, lower property taxes and increase rent controls.
The Nova Scotia NDP led by Claudia Chender had fewer real estate-related promises listed on its website but it vowed to allow residents earning under $100,000 the chance to rent one of 500 prefabricated homes it would build in the first year, with rent payments going toward ownership.
Nova Scotia has the largest population of the four Atlantic provinces of Canada, with 969,000 residents in the 2021 census. Nova Scotia’s population has risen to over 1 million since then, according to current estimates. Its capital of Halifax is the largest of all cities in the Maritimes region of Canada, with a population estimated at 500,000 residents.
Story by: CoStar
