10/28/2025
OREA STATEMENT ON GOVERNMENT OF ONTARIO EFFORTS TO LOWER THE COST OF HOMEOWNERSHIP
Keeping the dream of homeownership alive is a key goal that the Ontario Real Estate Association (OREA) and REALTORS® across the province have long been fighting for. House
TORONTO – “Keeping the dream of homeownership alive is a key goal that the Ontario Real Estate Association (OREA) and REALTORS® across the province have long been fighting for. For years, we have called on the Government of Ontario to work on lowering housing costs by providing incentives and new, innovative pathways to homeownership for first-time home buyers – and today’s announcement does just that.
OREA commends the Ford government for continuing to protect Ontario and keep costs down by announcing their plan to remove the full 8 per cent provincial portion of the harmonized sales tax (HST) for first-time home buyers on newly built homes valued up to $1 million. This would mean up to $80,000 back in the pockets of first-time home buyers, a welcome and much-needed relief for those who are making one of the biggest financial transactions of their lives.
In addition, the new rebate would follow the phased reduction under the proposed federal rebate for homes valued between $1 million and $1.5 million, giving up to an additional $24,000 in rebates, adding an extra layer of relief for Ontario families.
Building off the recently introduced Bill 60, Fighting Delays, Building Faster Act, 2025, this type of bold action, combined with the tax relief proposed by the federal government, is exactly what we need to help young Ontarians and their families get a foot on the homeownership ladder.
OREA would like to thank Premier Doug Ford, Minister of Finance Peter Bethlenfalvy, and Minister of Municipal Affairs and Housing Rob Flack for working to ensure that the next generation of Ontarians can find a great place to call home. This is yet another step in the right direction for the future of this province as we work together to build strong and prosperous communities across Ontario.”
- Cathy Polan, 2025 OREA President
