The Toronto Regional Real Estate Board (TRREB) welcomes Premier Doug Ford’s recent remarks emphasizing the urgent need to reduce the tax burden on homebuyers, including potential reductions to the HST, development charges (DCs), and other associated costs. TRREB has long advocated for these reforms, most recently in our Fair Taxes on Ontario Homes report, which calls for a reduced HST on new home purchases, modernization of the outdated and inequitable land transfer tax system in Ontario, and a significant reduction in excessive DCs. These measures are critical to making homeownership more attainable for Ontarians.

As outlined in our report details, government taxes and fees account for up to 36 per cent of a new home’s price, adding more than $370,000 to the average cost. 

Addressing Ontario’s housing affordability crisis requires urgent, coordinated action from all three levels of government. Reducing financial barriers for both home builders and buyers is essential to restoring a stable housing market, protecting construction jobs, and making home ownership a reality for more Ontarians.

Elechia Barry-Sproule
TRREB President