Is the GST Abolition Really Going to Help the West Island Housing Market? Let’s Take a Closer Look 🏡💭

As a real estate agent here in the West Island of Montreal, I know that housing prices, taxes, and affordability are always top of mind for buyers and sellers alike. Recently, there’s been buzz about the federal government’s plan to remove the Goods and Services Tax (GST) on new home sales. While it may sound like a welcome move to make housing more affordable 🤑, Quebec’s finance minister, Éric Girard, has a different take.
 
Girard recently pointed out that simply eliminating the GST on new homes might not be the game-changer we hoped for 🤔. His perspective? While it could slightly lower the cost of buying a new home, the policy won’t tackle the real root issue here in the Montreal region: a serious lack of available housing. Without enough homes on the market to meet demand, a small tax cut won’t address the competition, which continues to drive up prices across the board 📈🏠.
 
In the West Island, we’re seeing this play out firsthand. Demand for family homes, condos, and townhouses remains high 🏡💼, and although there’s always interest in new builds, the options can be limited. This scarcity means that even with the GST removal, the affordability boost might be short-lived unless we address housing supply and zoning to create more development opportunities 🛠️🏗️.
 
For buyers, this means the need for a good strategy and solid financial planning hasn’t changed 💡. Even with a tax break, West Island homes—especially newer ones—can still come with premium pricing 💸. For sellers, it’s an encouraging market to be in, but remember that buyers will be looking closely at the overall value, not just the price tag 💵. Working with an experienced local agent can help you navigate these challenges and find the best approach, whether you’re buying, selling, or both 🔑.
 
While the GST removal might be a step in the right direction, it’s important for all of us in the Montreal area to keep a realistic perspective 🧐. Policies come and go, but finding the right home or making a successful sale still comes down to understanding the market, knowing your goals, and having the right guidance 🏆.
 
As always, if you have questions about what’s happening in the West Island market, feel free to reach out! I’m here to help make sense of all these changes and find the right fit for you 😊🏡.