A hot housing market has GTA buyers looking in Waterloo Region

Federal and Provincial Finance Ministers met in Toronto on Tuesday to discuss the sky-high housing prices in the Greater Toronto Area.

Nothing concrete came out of the meeting, other than a promise to meet more frequently.

Locally, our market is impacted by the Toronto area market with more and more buyers coming to Kitchener-Waterloo.

“What we’re seeing is the Toronto buyers are more and more prevalent in our market,” explains Kitchener-Waterloo Realtor’s Association President, James Craig.

If measures are put in place to help cool Toronto’s market, Craig says there isn’t much worry for our market.

“We think that will continue if measures cool the Toronto market, especially in terms of affordability. The pricing here is in some cases half of what you can buy in Toronto, and it’s a lot easier for those people to buy in our market,” adds Craig.

“We want to make sure that any measures that are brought on from the government are long term solutions and not just quick fixes. I think that’s what we’re hopeful for.”

Ontario’s Finance Minister Charles Sousa is set to address a suite of measures when the provincial budget is tabled on April 27th.

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