Residential

Housing Prices Are Affordable

A myriad of housing options are available in the Waterloo Region. The average sale price of all residential properties sold in the Waterloo Region was $254,771 in December, 2008¹. This is 10% lower than the Canadian average for the same period - $281,000, and the Ontario average - $280,000². Housing prices are lower in the Waterloo Region than neighbouring communities/regions including Toronto, Mississauga, Oakville, Milton, Burlington and Hamilton.

The (year-to-date) average MLS sale price of a detached home sold in the Waterloo Region is 292,563³.

In 2006, the median monthly payment for owner-occupied dwellings was $1135 in the Waterloo Region, compared to $1046 in Ontario⁴.

¹Source: Kitchener Waterloo Real Estate Board
²Source: MLS.ca
³Source: Kitchener Waterloo Real Estate Board, December 2008
⁴Source: Statistics Canada, 2006 Census, Kitchener CMA

Rental Rates Are Affordable

In 2006, the median monthly payment for rented dwelling was $765 in the Waterloo Region, compared to $801 in Ontario⁵.

⁵Source: Statistics Canada, 2006 Census, Kitchener CMA

The Housing Market is Dynamic

The Region's housing market is active and growing, with steady values of new home construction starts, and total construction values (including residential, commercial, industrial and institutional).

Housing Starts (1997-2007)

	# New Residential Units
1996	1,968
1997	2,100
1998	2,554
1999	2,821
2000	3,509
2001	3,657
2002	4,567
2003	4,281
2004	4,430
2005	4,078
2006	3,201
2007	3,013

Source: Doing Business, Population Profile, Building Permits, Total Value of New Construction 1997-2007, Region of Waterloo

Construction Value (1997-2007)

	Value
1997	$374,690,000
1998	$387,371,000
1999	$490,810,000
2000	$699,323,000
2001	$801,694,000
2002	$875,688,000
2003	$887,188,000
2004	$914,999,000
2005	$847,331,000
2006	$838,071,000
2007	$808,855,000

Source: Doing Business, Population Profile, Building Permits, Total Value of New Construction 1997-2007, Region of Waterloo