GTA new low-rise sales post strongest April in three years after HST rebate kicks in

Toronto’s new home market showed signs of a turnaround in April, with buyers already taking advantage of Ontario’s temporary HST rebate program, the Building Industry and Land Development Association (BILD) said Wednesday.

The association said the rebate helped low-rise home sales climb above the 10-year average for the first time in three years, though condominium sales remained weak as uncertainty persists around how the rebate will apply to high-rise projects, said BILD.

A total of 1,100 new homes were sold across the Greater Toronto Area in April, up from 384 in April 2025, according to Altus Group, BILD’s market intelligence provider. 

While sales were up sharply from the record low seen a year earlier, they remained 55 per cent below the 10-year average of 2,418 units for the month.

Low-rise market shows rebound

Single-family homes accounted for 901 sales in April, up from 241 year-over-year. The category includes detached, semi-detached and townhouse units, excluding stacked townhouses.

Edward Jegg, research manager at Altus Group, said the market response was strongest in the low-rise segment after the rebate took effect April 1.

“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,” Jegg said.

He added that pent-up demand built over the past several years could help sustain momentum if buyers receive clearer guidance on how the rebate will be implemented.

The benchmark price for a new single-family home in the GTA was $1.42 million in April, down 7.1 per cent from a year earlier.

Condominium market still sluggish

Condominium apartment sales totalled 199 units in April, a couple dozen more than the same month last year and 88 per cent below the 10-year average.

BILD chief operating officer Justin Sherwood said uncertainty around eligibility requirements and rebate administration has slowed activity in the high-rise sector.

“It is now imperative the government provide clarity as quickly as possible on the program details, eligibility requirements, appropriate forms and rebate mechanisms,” Sherwood said.

The benchmark price for new condominium apartments in the GTA was about $1.03 million, which BILD described as remaining at an apparent price floor.

Remaining new home inventory across the GTA fell below 20,000 units in April for the second time in 22 months, reaching 19,044 units.

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