Fall 2023 Newsletter

Local Real Estate Update

Housing….. many conversations on any given day about the supply of, reduced availability, the cost to purchase, the cost to carry…… I wish we had the answers. There is little doubt that in Southern Georgian Bay, we need more, not just housing, but affordable housing. All of Canada is in a housing crunch, affecting communities socially and economically. The reality of addressing our basic housing needs may be a tough pill for us to swallow, and the multi-generational voices are getting louder for action to be taken now.

Our Market in 50 words or less……

Locally, the real estate market took a summer holiday. From June to August 30th, sales plummeted, possibly due to family summer vacations that had been on hold since before COVID, interest rate uncertainty, economic news, weather, flooding and forest fires. It’s been quite a summer! The numbers are showing a return to a balanced pre-covid real estate market.

Housing: Our Basic Need!

There are many theories regarding Canadian housing problems which require concrete solutions coupled with action. Canada is not alone, as housing prices are soaring across most of the world. Reporter Andrew Coyne’s article in the September 16th Globe &Mail headline: Many of the so-called solutions to
Canada’s housing mess are merely mirages. He discusses the hot-topic ways to solve the current housing shortage, the role of the government, immigration, prices, etc., but also puts it out there that not everyone should own a house, how Capital Gain exemptions on principal residences have played a role in our housing shortage and the role of the Canada Mortgage & housing Corporation (CMHC) to make it easier for first time home buyers to buy a home. The article link is below, and we would be very interested in your feedback.
https://www.theglobeandmail.com/opiinon/article-many-of= the-so-called-solutions-to-canadas-housing-mess-are-merely

In This Edition

• Local Real Estate Update
• The Town Of Colingwod Short-Term Accommodations &The Outcome of The Interim Control Bylaw
• The Best Upgrades to do before selling
• Southern Georgian Bay Market Update
• Sponsorships &Commuinty Events
• Hawkins Ryerse recently SOLD &Feature Listing

Homeownership in Canada, which was recognized as a fundamental human right by the National Housing Strategy in 2019, is on a decline, and the number of renter households is increasing. The foundation for family wealth creation and financial security has, since World War 2, been in creating equity in family homes.

As home ownership is being delayed and denied to an increasing number of young Canadians, the distortion between home ownership and non-home ownership is creating the fear of a wealth imbalance amongst lower-age families.

How to solve the homeownership issue? This is the question that is going to dominate the upcoming Canadian election cycle over the impact on housing anytime soon.

Building faster, cheaper and lower cost housing, creating more pre-fab construction methods to enable 4 season home construction, amending zoning bylaws to create rear-yard rental suites (Accessory Dwelling Units ADU’s) and in-home suites, restricting short-term rentals in primary reis dential homes. These points and many more have to be addressed by the Province, Simcoe, Grey Counties and all municipalities within.

Most Simcoe and Grey County municipalities are fast-tracking action plans to address the need for housing. As quoted in Collingwood’s Affordable Housing Master Plan released in August, “Despite there being many ideas on how to approach the affordable housing crisis, there is no one magic bullet to solve it, and no one entity or government can do it alone.”

Provincially, the current Ontario Green Belt development controversy is not going to go away anytime soon. The need to construct homes close to existing transportation routes throughout Simcoe County is not in question.

The way the Green Belt Lands for development have been fast-tracked is what is going to delay homes being built. There is given moral high ground by experienced home builders for the protection of our sensitive lands with the need for open space, trails and trees.

Let’s find ways to increase the approval and construction capacity for faster development approvals. Municipalities and agencies need to work together to find solutions, not roadblocks. info@HawkinsRyerse.com.

Strategic Housing Plan

Town of Collingwood

The Town of Collingwood announced the latest phase in the ongoing Affordable housing Master Plan process.

The Draft Strategic Options Report, prepared by N. Bary Lyon Consultants (NBLC), is now available for public input.

This milestone follows an extensive series of efforts over the past months. These efforts began with the recommendations put forth by the Affordable Housing Task Force in 2021.

Subsequently, a comprehensive housing Needs Assessment was conducted, accompanied by active engagement with the community and stakeholders. This process also involved tapping into housing research, expert opinions, and industry best practices. The outcome of these endeavours is a substantial compilation of viable, high-level strategic options and preliminary recommendations, which will be subject to further enhancement through ongoing consultation.

Scheduled for release in the upcoming autumn season, the final report will delve deeper into the recommendations. It will provide a more intricate breakdown of costs and prioritization.

With much anticipation, official recommendations will be assessed for potential inclusion in the 2024 budget cycle, aiming for swift implementation. Additionally, the staff will present a multi-year action blueprint to the Council for evaluation in early 2024.

While numerous ideas circulate regarding the resolution of the affordable housing crisis, there’s no singular “magic solution,” and no single entity or government can tackle it solely on their own.

The ultimate Affordable Housing Master Plan is poised to furnish the Town of Collingwood with a focused, financially assessed, and prioritized roster of initiatives that fall within the municipality’s expertise. This approach is geared towards achieving the most tangible advancements for our community.

There was an open consultation meeting that was held on Tuesday, August 15^th, at 5:00 p.m. at the Collingwood Public Library.

NBLC was present to answer questions and receive your feedback.

In June 2023, a housing Needs Assessment (HNA) was finalized, aiming to establish a fundamental evaluation of housing requirements and affordability obstacles within Collingwood Town.

With a greater level of detail around costs and prioritization, we expect that recommendations will be considered for inclusion in the 2024 budget cycle as staff will bring a multi-year action plan to the Council for review in early 2024.

The main findings from the HNA included the following:

• There are limited options available in the housing market for households with moderate incomes,
  both for ownership and rental prospects.
• Collingwood faces a severe shortage of rental housing. The number of purpose-built rental units has actually decreased over the last ten years due to inadequate new affordable rental construction.
• Rental prices have seen a rapid increase, with the majority of available options now surpassing $2,000 per month in most cases for a 2-bed apartment. $2500-3000.00 for a 2-3 bed single family home.
• Renter households are more likely than homeowners to experience housing needs, which often means they are living in housing that is unaffordable, unsuitable, or inadequate. Addressing the needs of renter households across various income levels and characteristics is a critical concern.
• The supply of ownership housing is failing to meet demand, particularly from low and moderate-income households. Collingwood is increasingly attracting higher-income households, and the new housing supply is catering to this demographic.
• Over the past decade, Collingwood’s ownership housing inventory has witnessed substantial price growth. Many households, especially first-time home buyers, face challenges in affording new or resale homes in the current Collingwood market.
• Affordability issues in the ownership market are pushing potential buyers into the already limited rental market. To accommodate the projected population growth until 2051, the region will require the development of more than 10,000 new housing units.

If you would be interested in learning more, you can read the entire draft plan by clicking the link below.

Have You Been Wondering What The Outcome Of Collingwood’s Interim Control By-Law (ICBL) Is?

After extensive and expedited collaboration among the Town, the development sector, and additional invested parties, the updated Servicing Capacity Allocation Policy (SCAP) will persist in its oversight of the allocation of servicing capacity.

This will be carried out in a manner that upholds sustainability, transparency, fairness, and accountability. Notably, the majority of minor development proposals will be excluded from the SCAP procedure.

On the other hand, significant development ventures will make it a necessity for a thorough assessment based on merit within the framework of SCAP and might obtain their servicing capacity allocation via their ‘batch review’ mechanism.”

If you are interested in learning more, contact us.

Update: According to The Town Of Collingwood

On June 5, 2023 Council approved staff to prepare and initiate a consultation on the draft Licensing Framework. The STA Licensing Survey ran from June 19th till July 31st, 2023.

An Open House also took place on July 12th, 2023, where members of the public could ask questions or leave feedback on the draft Framework. Results of this public consultation are being analyzed and wil be submitted to Committee and Council during a future meeting no later than October 2023. We wil be sure to update you on any future public meetings or results ongoing.

We want to here from you. Does this affect you? How do you feel about it?

The housing policies of cities and towns can be restrictive of short-term rentals, ot protect housing for residents. However, in Toronto for instance, in many recent cases Airbnb have moved large
numbers of their listings ot longer-stays to avoid short-term rental regulations and accountability.

Cities and towns are now being forced to take a more direct look at how companies like AirBnB & VRBO operate within their communities. Are Short Term Rentals affecting community bylaws, licensing, and neighbouring home’s resale value? Is this something you feel will affect you and the resale of your home in the future?

In most cases, take Toronto again, for instance, there are very high percentages of STAs’ that are unregistered and not operating legally with permits, thus making it more difficult for the town/city to monitor or control.

We would really like to hear from you. What are your thoughts and feelings about this topic? We know this is a tough topic to discuss; however, we believe because Collingwood is our home, the outcome of STA licenses &restrictions may have profound consequences within our community, positive and negative.

Please email us at info@hawkinsryerse.com

The Best Upgrades to Do Before Selling

ACCORDING TO CANADIAN REAL ESTATE WEALTH MAGAZINE

When preparing to sell your home, certain upgrades and improvements can potentially increase its appeal and value to potential buyers. However, the best upgrades to focus on can depend on factors like your budget, the current state of your home, and the local real estate market.

We thought this may be an important topic to revisit. Perhaps assisting those struggling to figure out what the next step is if your considering selling your home. Do you need to make any upgrades? fI so what is the budget? Where is that budget best allocated? These are all questions for those who are considering selling.

• Kitchen Remodeling?
• Bathrooms?
• Landscaping & Curb Appeal?
• Energy Efficient Upgrades?

Remember, not all upgrades will provide a return on investment, so it’s important to carefully consider your budget and the preferences of your target market. Experienced Real Estate Professionals like ourselves are familiar with our local market and can provide personalized advice on which upgrades are likely to have the most impact on your home’s sale price.

Sponsorships and Community Events!

We wil be participating in the Third Annual Kenneth’s Walk at Duntroon Highlands on
September 23, 2023 to raise funds for the Team Giver’ Foundation.

This Culinary Walking Tour on Duntroon Highlands Golf Course with the start/finish at The Highlands House.

There wil be food &beverage stations along the walk, serving the best that South Georgian Bay has ot offer. It si always agreat day filed with fun, music and incredible cuisine!

2023 Holiday House Tour

The Royal LePage Shelter Foundation is proud to present yet another amazing Holiday House Tour, helping ot support familiesni need.

This year there wil be aslew of amazing houses &designers sa wel sa some great vendors just ot name a few, Duntroon Cider House, The Paint Bar, Timbercatt, Sidelaunch Brewery, Riverside Greenhouse, Nantucket & Co. Clothing, But Coats and More….

Time and Location:

Nov 25, 2023 10:00 a.m. – 4:00 p.m.

Box 310, 58 Alfred St W, Thornbury, ON NOH 2P0, Canada

2220 Fairgrounds Rd. N, Clearview Twp, Simcoe County

Get ready for an exhilarating extravaganza like no other – the Great Northern Exhibition is back! Join us from September 22^nd to 24^th for an unforgettable experience that will leave you on the edge of your seat.

GNE requests that you please leave Pets at home (Service Dogs Welcome)