Comment 95115

By Mal (anonymous) | Posted November 23, 2013 at 10:34:36 in reply to Comment 95064

"Stinson lofts, like Strathcona's streets, show how much demand there is for great, urban living in reclaimed, historic spaces."

There always has been. Population figures attest to that.

It's not just Strathcona, of course. The broader Hamilton Centre submarket saw average prices go from 104K to 167K and the number of on-market units drop by 25% between 2003 and 2012.

http://www.rahb.ca/press/2013/forecast/charts/#HC

Such increases are, of course, relative. If a property has been traditionally undervalued from a dollars-and-cents standpoint, the market correction will inevitably be larger: 89% increase on a 100K house is a different feat than 89% increase on a 200K+ house.

It is still noteworthy, of course, and considerably higher than the movement within the Hamilton Centre submarket. All of the factors mentioned doubtless play a role in that.

There's also the matter of By-Law 01-143, the moratorium on retirement homes/emergency shelters/RCFs/correctional facilities in most of the Durand, virtually all of Stinson and all of St. Clair, in place since the summer of 2001.

http://samnabi.com/content/5-research/2-radial-separation/Evaluating-Radial-Separation-Distances-Public.pdf

That could impact property values over the past decade.

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