It’s a topic just about everyone talks about these days and it will be the major focus of a Prince Edward County Council Committee
of the Whole meeting Thursday.
That topic is affordable housing and more specifically the lack thereof.
Charles Dowdall of the county’s Affordable Housing Corporation will give council an overview of the local housing situation.
Council will learn that as of May, housing prices had increased 79% in the county from the same month a year before.
That compares with a 24% increase for Toronto.
And last month the average purchase price of a home based on 118 listings was over $1.2 million.
Meanwhile the corporation estimates an affordable house would sell between $275,000 and $325,000.
Rent is also expensive in The County with the average two-bedroom unit going for almost $1,700 a month.
Prince Edward County Council’s Committee of the Whole meeting begins at 1 p.m. and will be live-streamed.
See the corporation’s entire report here.
