Heddle Real Estate - Royal LePage State Realty Brokerage

By Brittany Whitton
Posted Monday, Jun 02, 2025 4:09 pm

Liberals are pushing ahead with a tax cut on some new homes. Here’s everything you need to know

First-time homebuyers of newly built homes could get a sizable tax cut.

Prices for newly built homes skyrocketed during the pandemic and, despite record-low sales, they still sit around $1 million on average for a GTA condo and around $1.53 million for a single-family home as of April.

On May 27, the federal government tabled legislative proposals to introduce a new goods and services tax (GST) rebate for first-time homebuyers by eliminating the five per cent GST from the purchase of select new homes, to combat the affordability challenges in the new-build sector and stimulate more sales.

The Star spoke to experts about who is eligible, how much home purchasers can save, and whether it can make housing more affordable.... [READ MORE]

Shared by the Heddle Real Estate team

Heddle Real Estate is an award-winning real estate team serving Hamilton, Ancaster, Stoney Creek, and the greater Niagara region with trusted expertise and a client-first approach.