Real eState

Real estate prices remain high in Kitchener-Waterloo, realtors say – Global News

Published

4 years ago

October 5, 2020

Housing prices continue to hold steady in the Kitchener-Waterloo market although they remain dramatically higher than a year ago, according to numbers released by the Kitchener-Waterloo Association of Realtors (KWAR).

The realtors’ group says that the average sales price of a home in the area was to $637,691 in September, about 17.5 per cent higher than it was in September 2019.

While that is still a massive change it is about on par with sales prices in August ($634,409) and July ($639,814.)

While the average cost of a home appears to be stable for now, the cost of a detached home jumped last month to $768,762, an increase of 25 per cent over a year earlier and 4.4 per cent over August ($734,427) and 3.1 per cent above July ($745,149).

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2:05
Coronavirus: Real estate market in Ontario’s cottage country experiencing boom

Coronavirus: Real estate market in Ontario’s cottage country experiencing boom

The cost of a detached home painted a similar picture as it increased by 18.9 per cent year-over-year to $734,427 but was down slightly from July’s lofty heights of $745,149.

An unusual number of homes (686) changed hands in August and that trend continued in September, as 758 residential properties were moved last month.

While September is traditionally the kickoff to the fall real estate market, KWAR says that it was a record for the month.

“This is far more home sales then what we would normally see in September as buyers continue to play catch up from the COVID-19 hindered spring market,” KWAR president Colleen Koehler said in statement.

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“While the pandemic has had devastating impacts on many aspects of our lives it has only solidified the importance of home and homeownership.”

Thankfully for prospective home buyers, a ton of inventory also came to the market as there were 929 new listings added to the system in Kitchener-Waterloo, an increase of 13 per cent year-over-year.

“We saw more new listings coming to the market in September which was welcome,” Koehler said. “However, demand continues to outpace supply.”

She believes that the increasing number of employers enabling staff to work remotely has caused more people to look at the area due to its more affordable homes.

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Real eState

Homelessness: Tiny home village to open next week in Halifax suburb

Published

2 weeks ago

October 24, 2024

Anne Joseph

HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

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Real eState

Here are some facts about British Columbia’s housing market

Published

3 weeks ago

October 17, 2024

Anne Joseph

Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

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B.C. voters face atmospheric river with heavy rain, high winds on election day

Published

3 weeks ago

October 17, 2024

Anne Joseph

VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.

Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.

The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.

Wednesday was the last day for advance voting, which started on Oct. 10.

More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.

Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.

An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.

This report by The Canadian Press was first published Oct. 17, 2024.

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