Yes, it will help. I want to repeat there is no silver bullet, but this is a huge gap, not just in Canada but you have to look at it globally. A lot of countries are undergoing this problem of housing markets that are already being crunched on supply being exploited by those who see new condo developments or new houses just as a safety deposit box for their illicit funds.
It can't just be Canada doing this on its own. It helps that the Financial Action Task Force is currently looking at updating recommendation 24 on beneficial ownership transparency so that more countries fall in line with the actions that Canada is taking.