The President of the Georgian Triangle Real Estate Board says the harmonization of the PST and GST will have a significant impact on the price of new housing, and on real estate services too.
The merging of the two taxes means the price of a nwe house will now have PST added to it as well.
Vicki Bell adds the consumer could be looking at an extra 2 thousand dollars on a 360 thousand dollar home.
She says the increases will be seen in appraisal fees, home inspection fees, real estate commissions, and other services related to a real estate transaction.
Bell says obviously this isn’t going to help the real esate market, and says this is just another thing for buyers and sellers to take into consideration before they put their home on the market, or start looking for a house.