Mr. Speaker, let me start by saying that the facts are clear: Housing starts are up, not down. Housing starts are up 10% year over year. In Montreal, it is 32%; in Vancouver, it is 46%.
With that said, I will reiterate that the Government of Canada is committed to solving the housing crisis. We have put forward the most ambitious housing plan in our country's history, and we are creating positive change in Canada's housing system. I would like to remind my colleague that the last time the Conservatives were in power, they lost 800,000 affordable homes and built six.
We are building on our successes, making historic investments in new housing and working to lower housing costs for Canadians. As the member opposite should know, we just launched Build Canada Homes, a new agency to speed up the construction of housing at a pace not seen in generations, with a focus on affordable homes across the full continuum of affordability. To restore affordability and meet the demands of a growing Canada, we need a drastic increase in housing supply of all types. Through Build Canada Homes, we are building new homes to drive up supply and bring housing costs down.
We are also taking action to help first-time homebuyers, with such measures as the tax-free first home savings account and the homebuyers' plan to help Canadians save for their first home. In addition, we are eliminating the GST for first-time homebuyers on new homes at or under $1 million and reducing the GST on new homes up to $1.5 million. We expect the Conservatives to get on board with this and help provide nearly $4 billion in tax cuts to first-time buyers.
Together with our partners in the private and non-profit sectors, indigenous communities and municipal, territorial and provincial levels of government, we are removing the barriers to new home construction and increasing the supply of affordable housing. Through targeted investments and financial measures, we are helping to restore affordability for Canadians.
We need to build more homes, and we need to build them faster. One of the programs we have used to do this is the housing accelerator fund, which is removing barriers to housing development. We have signed agreements with more than 200 communities across the country to cut red tape and streamline the development process. We are also making significant investments in affordable housing through such programs as the affordable housing fund. As of June 30, over 50,000 new units have been committed through the affordable housing fund, and more than 30,000 of those units are under 80% of the median market rent, with rents expected to average $717 a month. Another 175,000 units have been repaired or renewed through this fund, with 135,000 of those units falling under 80% of median market rent.
We are taking bold, decisive action to build homes across this country and to ensure that every Canadian has a place to call home. I hope the opposition will join us.