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CHBA encouraged by Conservative Party Proposal on Removing GST on New Homes

Today’s announcement by the Conservative Party of Canada to remove GST on new homes with a purchase price under $1 million will make a big difference if enacted, especially for first-time buyers.
CHBA has been advocating for years with all major parties for a change to GST thresholds and is encouraged that this policy addresses what has been a major contributor to affordability challenges when buying a home.

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2024 CHBA Home Buyer Preference Survey results indicate what Canadians expect from their homes

The Canadian Home Builders’ Association (CHBA) has released the results from its ninth annual CHBA Home Buyer Preference Survey, a nationwide market research study powered by Avid Ratings Canada. The 2024 Canadian Home Buyer Preferences is a high-level summary publication that comes with the full study data set, allowing users to customize data splicing on more than 50 in-depth areas of home design, building features, buying preferences, and demographics, including age, location, household formation, purchase price, and more.

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Mortgage reforms exactly what is needed to enable more housing supply

Today the federal government announced important changes to mortgage rules that will enable more well qualified buyers to access mortgages and become homeowners, which will drive more housing construction and supply. These changes are reflective of recommendations that CHBA has been calling for, as without qualified buyers, the industry can’t build the homes Canada needs.

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Initial interest rate lowering not enough to offset restrictive mortgage rules and other barriers to increase new home sales 

The Canadian Home Builders’ Association (CHBA) released its 2024 Q1 Housing Market Index (HMI) today, which showed a very negative builder sentiment for a seventh consecutive quarter, prior to the release of the federal budget. The HMI is a leading indicator about the health of the residential construction industry in Canada, and its ongoing lows were a continuing signal for poor housing starts ahead, and the need for change in government policy.

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Mortgage affordability flattened homebuying demand in Q1, highlighting importance of addressing restrictive mortgage rules to spur new supply

The Canadian Home Builders’ Association (CHBA) released its 2024 Q1 Housing Market Index (HMI) today, which showed a very negative builder sentiment for a seventh consecutive quarter, prior to the release of the federal budget. The HMI is a leading indicator about the health of the residential construction industry in Canada, and its ongoing lows were a continuing signal for poor housing starts ahead, and the need for change in government policy.

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