For years, REALTORS® across Ontario have been fighting to keep the dream of homeownership alive — and this week, we finally got some good news worth celebrating.
The Ontario Real Estate Association (OREA) has announced its strong support for the Government of Ontario’s plan to remove the full 8% provincial portion of the HST on newly built homes priced up to $1 million for first-time home buyers.
That’s right — this could mean up to $80,000 back in the pockets of buyers trying to break into the market.
And for homes priced between $1 million and $1.5 million, the new rebate will align with the proposed federal rebate — adding up to $24,000 more in potential savings.
In a housing landscape where affordability has become one of the biggest barriers, this move is nothing short of a game-changer.
💬 REALTORS® Have Been Calling for Action — and It’s Happening
Ontario REALTORS® and OREA have long been advocating for policies that make homeownership more accessible. Today’s announcement shows that persistence pays off.
With the provincial and federal governments now both introducing real incentives, young families across Ontario are getting the kind of financial break that could actually move them from “someday” to “sold.”
🧩 How This Helps Our Local Market
Here in Waterloo Region, Cambridge, and surrounding communities, first-time buyers have been struggling to compete with rising construction costs and limited supply. This rebate gives new life to the new-build sector — supporting developers, encouraging housing starts, and ultimately strengthening neighbourhoods.
By helping more people buy, we also help communities grow. Local schools, small businesses, and neighbourhood services thrive when homeownership becomes attainable again.
🤝 Collaboration in Action
OREA President Cathy Polan thanked Premier Doug Ford, Finance Minister Peter Bethlenfalvy, and Housing Minister Rob Flack for taking bold action. Building on recent housing legislation like the Fighting Delays, Building Faster Act (Bill 60), this announcement shows that real change is possible when government and industry work together.
🏠 What It Means for Buyers
For first-time buyers, this is the signal they’ve been waiting for. Lower taxes mean more purchasing power — and potentially, a faster path to homeownership.
If you’ve been waiting for the right time to enter the market, that moment might be closer than you think.
Let’s connect — our team can help you explore your options, find the right property, and make sure you’re taking full advantage of every new opportunity that comes your way.
✨ Magnolia Group Realty | Coldwell Banker Peter Benninger Realty
📍 Serving Kitchener, Waterloo, Cambridge & Beyond
📞 Charlotte Ferguson 519-575-1804 | Nathan Steffler 226-929-6369
🌐 www.yourmagnoliagroup.com