Notes from the Rotary Meeting 12.30pm Thursday, May 30, 2024

President Jackie chaired the meeting.  

Diana Alteen, a corporate member of the Club, was welcomed along with guest Krista Noble from Deer Lake.

 

Jackie introduced the guest speaker Rotarian Carol Anstey. Carol began by speaking of her Real Estate business.  She is a non-selling real estate broker and she spoke of the advantages of being in that position. She feels this builds trust with her agents. She can research the real estate market and help her agents to be competitive and successful. In the past couple of years, she has been a mentor and coach for middle size brokerages throughout North America.

Carol continued by looking at how the market has rebound after the covid years. She observed that in the second quarter of this year the market should strengthen.

One of the housing issues that is very much in the news is the affordability of housing. Newfoundland and Labrador is the second most affordable province in which to buy property.  She asked her audience the question “Do you think property is affordable in the Corner Brook area. Several replies were given resulting that affordability depends on the average income of an area.  Carol compared the housing market to a similar size city in Texas by looking at the average house price and average income. 

She continued by looking at the impact of housing on young people. The number one factor for financial independence in her view is the owning of property. Housing affordability from this perspective is extremely important.

She continued by looking at what has contributed to the affordability of a property such as cost of construction plus the demography of the buyers. She continued by looking at the effect of millennials on the housing market as they are just entering the housing market.  The other effect on the market is the number of properties listed and this has declined in the past couple of years. Last year there were only 6 new permits granted for new homes in Corner Brook.

She continued by looking at different solutions to the present affordable housing problem. This led her talking about the land development reform needed in the province and how federal funds need to be directed to the non-profit sector, and the private sector needs to build in rural area. There will be increased pressure resulting in house prices rising unless land reforms in the province take place.

Carol answered several questions before being thanked by Jackie on behalf of the club. The meeting adjourned at 1.30pm.