Affordability remains a persistent challenge for first-time buyers in Ontario. However, conditions are beginning to shift, with rising inventory, modest price adjustments across the province, and lower interest rates creating a more favourable environment for those ready to enter the market.

To add to this momentum, the Ontario government has proposed an HST rebate for first-time buyers, in the firm of a full rebate of the 8% provincial portion of the HST on newly built or substantially renovated homes valued up to $1 million. For buyers eager to make their move, this could be a step in the right direction to boost affordability and confidence. When combined with the federal 5% HST rebate, buyers could save up to $130,000 off the cost of a new home. These measures are designed to reduce upfront costs and encourage construction. Still, affordability challenges remain a key barrier, raising the question: Will it be enough to bring first-time buyers back into the market? REMAX research shows that 54% of Canadians believe this fall is a good time to strike a deal and incentives like this could further encourage first-time buyers to act. 

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