Artform condos . Waterloo key Qin na for GTA real estate trough. The 9-year deposit of middle-class families is not enough for the down payment. Relative to Toronto, York District, Pier District, etc., belonging to most of the peripheral towns of Kitchena and Waterloo area (Kitchener-Waterloo), the affordability of the housing market is still within the acceptable range.Please Visit: Artform condos to Get Your VVIP Registration Today!
However, data analysis shows that it will take an average of 9 to 12 years for a middle-income family to buy a house in more than 30 communities in the two cities to meet the loan requirements.
For home buyers who want to enter the market in Toronto, Wanjin City, Mi City and other areas, if the purchase budget is only more than 600,000 yuan, they may have no choice but small condominiums. If the target location is downtown, you can even buy an one-bedroom unit without parking spaces and lockers.
Under such circumstances, many first-time home buyers, retirees and investors have shifted their home purchase targets to Waterloo and Kichina, which are more than an hour’s drive from Toronto. According to the latest information, the average selling price of independent housing estates in the area is just over 600,000 yuan.
According to the December second-hand housing market report just released by the Kezina and Waterloo Real Estate Professionals Association (Kitchener-Waterloo Association of Realtors), there were 244 residential property transactions through the multiple release system during the month, with sales falling 9 per cent year-on-year.
For the whole of 2019, there were 5925 second-hand residential transactions, 16% higher than the total sales in 2018. However, sales in 2019 are still 2.3 per cent below the average of the past five years, but higher than the average of 3 per cent over the past 10 years.
Colleen Koehler, president of the association, said that overall, housing sales in the areas of Kejina and Waterloo remained stable in 2019. In terms of nearly 6000 second-hand property transactions in the whole year, it can also be regarded as a strong housing market.
Of all transactions, the largest sales volume was in independent houses, with a total of 3590 second-hand detached houses sold during the year, an increase of 5.9 per cent year-on-year. This was followed by freelance town houses, which sold 1266 units, but fell 3.7 per cent year-on-year. Condominium properties, including semi-detached, town houses, apartments and detached houses, sold 648 units during the year, a decrease of 7.8%. The decline in semi-detached houses was the smallest, at 0.7%, with a total of 421 sold in a year.
Although there was a decline in trading volume, there was a good increase in prices. The average price of all residential properties sold in 2019 was 528000 yuan, up 9.3% from 2018. Detached houses can be said to be a property category with a rise in price and volume, up 7.1% compared with 2018, with an average price of 615000 yuan.
Over the same period, condominiums also recorded a 9.6% price increase, with an average price of 332000 yuan. The average prices of town houses and semi-detached houses were $410000 and $440000 respectively, representing increases of 10% and 11% respectively.
Colleen Koehler added that due to the shortage of second-hand properties in the market, all types of home buyers, including first-time home buyers, owners who want small houses to move to large houses, retirees who want to move large houses to small houses, and so on, have posed obstacles, which is also the reason for the continuous rise in housing prices last year. She expects that house prices and sales will continue to rise in the coming year, driven by low interest rates and sustained development in Waterloo.
Although there is a shortage of local second-hand housing, it takes an average of 23 days for listings to be sold throughout the year, but it is less than the average of 24 days in 2018 and much less than the average of 38 days in the past decade.
The tight supply can also be seen from the inventory of local second-hand buildings (months of inventory). For the whole of 2019, the average inventory is only 1.5 months. Last May was the month with the highest inventory, with 2.1 months, but by the end of the year, there were only 0.7 months left. The usual normal inventory in Waterloo is about three to four months of supply.
After reading the above information, it is undeniable that in terms of housing price affordability, Ki-China and Waterloo are still very attractive entry points. However, for middle-income families, how high is the affordability of house prices in these two cities?
To find out, the real estate website Zoocasa analyzed house prices in various neighborhoods in the two cities to see how much a middle-income family can qualify for a loan, how many down payments they need to prepare, and how many years it will take to save 20% of their income each month.
对数据的分析相当令人惊讶。总体而言，滑铁卢的家庭收入中位数为8.3万元，2019年1月至11月的房价中位数为52万元。根据这两个数据，最高可贷到36.5万元的房贷，即购房者要准备近16万元的首付才能入市。要存到这个数额，大约需要 9.4 年的时间。
