A London builder is offering to pay property taxes and utility costs for one year to new homebuyers, a move an industry watcher says reflects the tough market conditions home builders are facing.

As part of the recently launched incentive program by Foxwood Homes, called StartSmart, the company is offering buyers up to $12,500 toward property taxes, as well as other costs such as electricity, water, natural gas and even hot water heater rental.

The program is not only being offered to first-time home buyers, to whom the federal government is offering a GST rebate, but to anyone who purchases any of the company’s homes in the city before Sept. 15.

“As we’ve come off the peak of the market a few years back, what’s been missing throughout that roller coaster of a market has been buyer conf

See Full Page