OTTAWA — Removing the HST on new homes appears to be driving a major increase in sales, which have more than doubled this year as the tax cut has come into force.
New data from the Ontario Home Builders’ Association (OHBA) and the Building Industry and Land Development Association shows there were 8,410 new homes sold in Ontario in the first three months of the Harmonized Sales Tax cut, which began on April 1. That’s a 130 per cent increase over the same time last year, when there were 3,645 new homes sold.
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