The Conservative Party’s pledge to remove the federal sales tax on new home builds under $1 million dollars is getting high-fives from the Ontario Home Builders Association.
Northumberland Peterborough South MP Philip Lawrence tells My Broadcasting Corporation what his party is committing to is a big deal.
The OHBA leadership says it’s the direction the county needs to be going in to address the escalating cost of homeownership.
MP Lawrence says affordability is a key concern of his constituents.
Lawrence says Northumberland Peterborough South has felt upward pressure on house prices in-part because of the region’s proximity to the Greater Toronto Area.
Lawrence says housing professionals believe the HST initiative will create 30 thousand new homes annually, increasing supply. Lawrence says in a free market economy increased supply can pull home prices lower possibly reducing the direct and market costs of housing.
(Written by: John Brenner)
