October 13 2017
Kitchener Waterloo Real Estate News Update
October 13 2017. In today’s news: real estate and the economy, Canada’s median income, Kitchener’s bike lanes, a new park for Kitchener, good bones, renting out your home, and trivial road signs.
Are BC and Ontario’s economies too reliant on real estate?
Over a 10-year boom period in Canada, Ontario and BC’s cumulative housing-related employment surged 28 per cent. That’s “much faster” expansion than what was observed in other Canadian provinces. In particular, the share of real estate-related employment in Ontario’s labour market increased from 9 per cent to 10.2 per cent over that period, while in BC the share grew from 9.9 per cent to 10.9 per cent.
Median income in Canada is over $70,000
Canadian national median income in 2015 was $70,336 – up 10.8 per cent from $63,457 in 2005
Kitchener seeks $600K for bike lane wish list
Kitchener has a list of about 15 cycling infrastructure projects it would like to go ahead with. Kitchener applied for provincial funding for about $600,000 worth of projects that range from adding bike lanes to fill in gaps in the city’s cycling network to installing 100 bike parking spots a year for the next three years. The Ontario Municipal Commuter Cycling Program covers 80 per cent of the costs of building cycling infrastructure and has $42.5 million available this year for municipalities across the province.
Residents being asked for thoughts on large new southwest Kitchener park
South Kitchener District Park set to open in 2019 and will include tennis courts, splash pad.
What ‘good bones’ really means
“This house has great bones.” As a real estate professional, you’ve heard the phrase countless times. You’ve probably even uttered it more than once. But what do we really mean when we say a house has good to great bones?
Looking to lease your home? Here’s what you should know.
While rental properties can provide a stream of reliable income, housing experts say the first-timer’s success will depend on a lot of factors.
Are we there yet?
There are roads in Australia that are so boring they have trivia signs to keep drivers alert
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University Rankings 2018: Canada’s top Comprehensive schools
UWaterloo and Laurier in the top ten
Drive-thru to go ahead next to homes
Some residents strongly opposed the drive-thru, saying it was too close to homes and would bring problems such as noise, light pollution, smells and fumes from idling cars. They also worried about traffic safety, with cars turning in to the restaurant very close to a busy intersection.
KW House prices up 28% year over year: Royal LePage report
When broken out by housing type, the median price of a standard two-storey home increased 28.4 per cent year-over-year to $511,674, while the median price of a bungalow climbed 28.9 per cent year-over-year to $443,726. During the same period, the median price of a condominium rose 15.4 per cent to $286,356 when compared to the same time last year
See that train a comin’
On-track tests of LRT vehicle expected to start next week