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Without a doubt the value of research information
readily available these days is daunting. Technology has
revolutionized the availability of data, and how we can study
it.
Real estate is one such
area where we can analyze property in our own Muskoka
geographical area, and broaden out to Ontario, Canada, North
America and beyond, all through the comfort of our computer
(or discomfort if it is not working well?).
In our continual research
of disseminating data to visualize Muskoka’s future real
estate markets, interesting thought patterns develop. For
instance, in April, 2002, The District of Muskoka completed a
Housing Review Study, projecting into the year 2021. Three
integrated study areas included HOUSING DEMAND ANALYSIS,
HOUSING SUPPLY ANALYSIS and RECOMMENDATIONS FOR MEETING
IDENTIFIED HOUSING NEEDS. Accommodated by extensive graphs and
charts, all six Muskoka Municipalities were put under the
viewing glass.
For example, under HOUSING DEMAND ANALYSIS, items touched on
include Permanent Population Growth & Distribution;
Projected Population Growth by Municipality; Projected
Population Growth and Distribution; Household Growth and
Distribution; Household Projections; Economic Profile and
Income.
Future
Housing Demand Summary Conclusions
Population
and household forecasts point to continued strong demand for
additional permanent housing units in Muskoka. It is expected
that an average of 260 to 300 new units per year will be
required.
Growth is expected to
concentrate increasingly in urban centres. Strong efforts are
needed in these municipalities to ensure the infrastructure is
in place to accommodate this growth.
The aging of the population
points to the need to place an increasing emphasis on a
variety of housing for young retirees and the elderly.
Particular attention should be placed on providing such
accommodation within urban centres where health and other
related services are available to meet the needs of these
individuals.
The large seasonal
population generates a widespread need for seasonal
accommodation for workers serving cottagers and resort
residents. The lack of such accommodation is becoming critical
for many employers and for Muskoka as a whole. Strong
attention needs to be paid to this problem to avoid the
negative economic and social impacts that may result from this
issue.
At the same time, the
growing seasonal population is generating increasing year
round employment for local trades and service workers, who
tend to earn modest incomes. There is a need to ensure the
availability of permanent accommodation affordable by such
workers in order to support this important and growing
economic activity.
Numerous measures point to
the large number of permanent households of low and moderate
income in all communities across Muskoka. Most of the jobs
available to these individuals are in lower paying service and
retail occupations and many are part-time and/or seasonal.
Strong efforts are required to ensure housing is provided that
is affordable by these households. In particular, attention
needs to be paid to providing housing affordable by households
earning less than $30,000 per year, who comprise some 40% of
all permanent households in Muskoka.
The trend in decreasing
average household size points to the need for forms of housing
that are suitable for childless households, including both
seniors and non-seniors.
If you “wired”, find
this interesting, and want to get into the numbers further, go
to www.muskoka.on.ca/
House-Review-Demand-Supply%20Analysis.pdf. This way you
can break down the Municipalities, analyze the many charts and
graphs etc, etc,
Be advised that real estate
is not an exact science, and therefore, future projections are
just that, projections. However, it sure makes great
conversation.
Darryl
McCullough, CCIM SEC, Associate Broker
Royal LePage Lakes of Muskoka
Direct Line: 705.646.2657
Office: 705.645.5257 Ext.402
Toll Free: 1.800.606.2636
Email: dmccullough@ccim.net
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