Ontario HST rebate shields new home sales

The Ontario HST rebate continues to play a crucial role in supporting new home sales across the GTA. We’ve seen single-family home sales reach 692 units—an impressive 47% above the 10-year average—while total new home sales stand at 907. Interestingly, the benchmark price has dropped 14.6% year-over-year, reflecting the shifting dynamics in our market. On the other hand, condo sales have taken a significant dip, now 78% below average, largely due to the current limits on tax incentives. With my background in both real estate and mortgage strategy, I’ve seen firsthand how these policy shifts can influence buying decisions and shape opportunities for clients navigating the GTA’s diverse market.