Toronto-area housing data show the federal–Ontario HST rebate is supporting sales of newly built single-family homes, but is not showing the same effect in the condo market. According to reporting on May activity, Toronto’s new single-family home sales reach about 830 units last month, marking the second month the rebate has been in effect. Other coverage links the sales response to policy changes announced earlier: in March, the federal and Ontario governments expand the HST rebate for newly built homes, with the program applying to eligible purchases up to specified price limits. The rebate is described as providing a maximum benefit of $130,000 for new homes valued at up to $1 million. While the sources agree that single-family sales rise during the period when the rebate is active, they also indicate that condo sales do not experience a comparable lift. Together, the accounts suggest the rebate’s impact is more visible in single-family transactions than in condo-related new home sales in the Toronto area.
HST rebate boosts Toronto-area new home sales in May, while condo sales lag
Toronto-area housing data show the federal–Ontario HST rebate is supporting sales of newly built single-family homes, but is not showing the same effect in the condo market. According to reporting on...
- Toronto-area data show about 830 new single-family home sales in May.
- May sales figures reflect the rebate being in effect for a second month.
- In March, the federal and Ontario governments announce an expansion of the HST rebate for new homes.
- The program offers a maximum rebate of $130,000 for eligible new homes valued up to $1 million.
- Reporting indicates condo sales do not receive the same boost as single-family home sales.
Program provides maximum rebate of $130,000 on new homes valued at up to $1 million
2 months agoIn March, the federal and Ontario governments announced they would expand the HST rebate for new homes
2 months agoRegion saw 830 new single-family home sales last month, the second month rebate has been in effect
2 months ago
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