The Chatham-Kent Association of Realtors (CKAR) is applauding the Government of Ontario’s recent removal of the provincial eight per cent portion of the Harmonized Sales Tax (HST) on newly built homes.
The new HST rebate applies to homes valued up to $1 million.
CKAR said the rebate will help more Ontarians achieve their dream of homeownership.
The CK realtors group met with policymakers in Ottawa last week to discuss practical measures to increase housing supply and affordability, including accelerating construction of “missing-middle” housing; encouraging modular and prefabricated building solutions; and strengthening collaboration between all levels of government to support sustainable growth.
Missing middle housing refers to a range of multi-unit housing types, like duplexes, townhouses, and fourplexes, that are smaller in scale than large apartment buildings, but denser than single-family homes. This type of housing is designed to fit into existing neighborhoods with single-family homes, providing more housing options that are walkable and can be more affordable.
According to CKAR, the newly announced HST rebate will provide first-time home buyers with up to $80,000 in savings on newly built homes priced under $1 million.
"For years, realtors have advocated for standardized development charges and streamlined municipal processes. Bill 60 demonstrates that when government listens to industry expertise, everyone benefits," said Barbara McCaughrin, outgoing CKAR President.
According to a report by the Canadian Real Estate Association (CREA), each home sale in Chatham-Kent also contributes approximately $81,000 in spin-off spending, supporting jobs, small businesses, and local services.
