Perth Councillor examining housing in town
As council rep on the Planning Committee Councillor Judy Brown, is boning up on housing trends, and opportunities.
“Real Estate is doing so well that people of moderate income can’t afford homes in Perth,” Brown told Committee.
With that in mind, Brown reached out to members of the Real Estate community to get a handle on the Perth housing market, and report back to committee.
“I reached out to Paul Martin, broker at Coldwell Bankers and the Real Estate Association’s representative,” Brown told committee. “He provided me with the report he gave his staff at the end of 2019.”
Statistics provided by Martin, show that in the Town of Perth and surrounding townships, the average price of a home in 2018 was $277,880 but shot up to $347,500 by 2019.
The number of homes listed each year has been dropping steadily since 2017. A trend that is also seen in Ottawa where listings dropped 27 percent in 2019 from 20018.
In this area, homes are selling for 97 percent of the their list price reflecting a shortage in housing. The number of days a home is listed has dropped from 84 days in 2016 to 29 days in 2019.
“Ontario’s population is expected to grow by 2.6 million by 2030, that means one million additional homes will be needed, this is something we need to prepare for when we’re doing our planning,” concluded Brown.