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HST's Effect on the Housing Market

Blog by Jacquie P. Wilson | October 30th, 2009

Everyone is worried about what will happen to the HST on new homes.  The rebate being offered is 5% on the first four hundred thousand.  This leaves new home owners paying the HST thereafter.  With the average price of homes in Vancouver this has new Buyers paying more.  The HST is slated to take over in July 2010.  I do not believe the HST will have an impact on already "lived in" homes, but clearly the cost of new construction is going to be taxed.