Ontario Realtors have met with Ontario Premier Kathleen Wynne, Finance Minister Charles Sousa and Toronto Mayor John Tory over the last several weeks to make sure that the dream of home ownership stays within reach.
Chatham-Kent Realtors have also met with local municipal officials asking for more land to be freed up in order to allow for more affordable options to local home buyers.
“The measures that will most impact Chatham-Kent are creating affordable new housing supply. It is critical that the government tackle the issue of housing supply and continues to take action to get more homes built so young families have more options,” said Kristi Willder President of Chatham-Kent Association of Realtors.
“Specifically, realtors have asked the government to look at ways to get more vacant land and properties to market and to create a Housing Advisory Group to provide advice and ideas about getting more supply to market.”
Recent stats show the number of listings tripled the number of sales in Chatham-Kent, so this may eventually balance itself out on its own, Willder said.
CKAR gives credit to the government and hopes it makes a full review of REBBA in order to raise the standards of Ontario’s real estate professionals. They agree with investigating the practice of double-ending and are happy to participate in this conversation. Part of the solution is to give stiffer penalties to those who break the rules, and to educate the public on the real estate transaction. CKAR has committed to ads in The Chatham Voice regarding the purchase and sale of a home.
Regarding the double ending issue; with multiple offers becoming more prevalent in Chatham-Kent, this issue may have local impact. The province has committed to reviewing the practice of multiple representations and double ending and we’re happy to participate in that conversation.
“It’s important to note that when the rules are followed, the practice works very well,” Willder said.
Lastly, as far as the foreign buyers’ tax, most recently a survey showed that one-third of homes purchased in Chatham-Kent were from out-of-town buyers. Almost all of these were people living in Ontario. So while the glut of GTA and surrounding area residents are cashing out and moving here, the number of foreign investors is statistically insignificant, therefore this will not affect Chatham-Kent.
