Low-rise new home sales in GTA surpass 10-year average following introduction of HST rebate program
Toronto, May 27, 2026 (GLOBE NEWSWIRE) -- The enhanced HST rebate program positively impacted the Greater Toronto Area (GTA) housing market in April as the low-rise sector surpassed its 10-year average for the first time in three years, the Building Industry and Land Development Association (BILD) said today. While the rebate program has helped boost low-rise sales, it has had a more subdued impact on the high-rise sector as the condominium market continues to struggle. The need for greater clarity on the implementation of the HST rebate is urgently required to unlock further activity in the market across all product types and to continue the positive progress observed in April.
There was a total of 1,100 new home sales in April, up significantly from the record low of April 2025 but 55 per cent below the 10-year average, according to Altus Group*, BILD’s official source for new home market intelligence. Historically, total new home sales for a typical April in the GTA would be 2,418 units based on the previous 10-year average.
“April new home sales across the GTA responded to the new HST rebate program as sales showed a noticeable increase, most noticeably in the single-family sector. Pricing continued to be competitive, with nearly like-for-like prices before and after the introduction of the rebate – suggesting the full rebate was flowing through to consumers,” said Edward Jegg, Research Manager at Altus Group. “With the build-up of pent-up demand over the past years, the positive momentum of April is expected to continue and build, especially once prospective buyers have full transparency on the implementation of the HST rebate.”
Condominium apartments, including units in low, medium, and high-rise buildings and stacked townhouses, accounted for 199 units sold in the GTA in April, 88 per cent below the 10-year average.
There were 901 single-family home sales in the GTA in April, a significant year-over-year increase and 21 per cent above the 10-year average. Single-family homes include detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses).
Total new home remaining inventory in the GTA dipped below the 20,000 mark for the second time in 22 months with 19,044 units for April. This includes 13,331 condominium apartment units and 5,713 single-family dwellings. This represents a combined inventory level of 31 months, based on average sales for the last 12 months.
When sales increase after a prolonged period of very low sales, the months of inventory statistics should be viewed with caution as it is based on dividing present inventory by the average of the past 12 months of sales activity (which have been very low). We anticipate that as sales increase, the months of inventory statistics will decrease rapidly.
“It is evident that it’s a great time to buy a new home as the temporary HST relief in Ontario is working to get homebuyers off the sidelines and into the market,” said Justin Sherwood, Chief Operating Officer at BILD. “The rebate program came into effect on April 1 and seeing the immediate increase in low-rise sales is a testament to buyer appetite for new homes and greater affordability in the market. The more modest response in the high-rise sector will be alleviated once implementation details related to the HST rebate are finalized. It is now imperative the government provide clarity as quickly as possible on the program details, eligibility requirements, appropriate forms and rebate mechanisms to allow builders and buyers to seamlessly implement the HST rebate. Doing this will further enhance the progress we are seeing in low-rise and boost high-rise new homes, leading to even greater activity in the market."
The benchmark price for new condominium apartments in April in the GTA was $1,029,164, remaining at an apparent price floor. The benchmark price for new single-family homes was $1,421,835, which was down 7.1 per cent over the last 12 months. These are gross prices, not reflective of any HST rebate, in order to facilitate a like-on-like comparison with previous years. Purchasers who qualify for an HST rebate would realize additional benefit from this rebate.
In Simcoe County in April, there were 62 single-family new home sales and one condominium apartment sale, with the weighted average price of the single-family new homes in Simcoe County at $1,162,217.
With more than 1,000 member companies, BILD is the voice of the home building, residential and non-residential land development and professional renovation industries in the Greater Toronto Area. The building and renovation industry provides 256,000 jobs in the region and $39.3 billion in investment value. BILD is affiliated with the Ontario and Canadian Home Builders’ Associations.
-30-
*Altus Group should be credited as BILD’s official source of new home market intelligence.
Attachment
Nadine Habib Building Industry and Land Development Association (BILD) 416-617-7994 nhabib@bildgta.ca
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
