March 2024 Real Estate Stats | Belleville, Quinte West & Prince Edward County 🏘️

Here is your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 

Budget to include $1.5B rental protection fund meant to preserve rent prices

The federal government will be launching a $1.5-billion "Canada Rental Protection Fund" to preserve affordable rent prices across the country, Prime Minister Justin Trudeau announced Thursday. The fund is the latest pledge from the federal Liberals, who are more than a week into a spending announcement blitz previewing measures that will be included in the 2024 federal budget, including a series of housing affordability loan programs and rule reforms focused on fairness for renters.

Federal plan would count rent toward a credit score. Who will it help — and who could it hurt?

A federal proposal to include rental payments in calculating credit scores might help some Canadians move into home ownership, but it could have consequences on renters who are already struggling with rising costs. One measure of the proposed Canadian Renters' Bill of Rights, announced last week by Prime Minister Justin Trudeau, would use timely rental payments to calculate a person's credit score. This, it said, would help level the playing field for young renters, particularly those who want to eventually buy a home.

Canadians awaiting rate cuts to re-enter housing market

Canadians are starting to feel more optimistic about their finances and a growing number say they are planning to re-enter the housing market when interest rates are cut, according to a new study by Dye & Durham Ltd. The Dye & Durham Canadian Pulse Report, which interviewed 1,015 Canadians in the first quarter of 2024, found that more Canadians say they are in a better financial position now than they were a year ago — 28 per cent compared to 20 per cent in the final quarter of 2023. That number jumps to 36 per cent among respondents aged 18 to 34.

Whether you’re thinking of making changes in your home or getting ready to open up the cottage, do it all at the Quinte Home & Cottage Show. Meet builders, contractors, and other experts and get the latest intel on decks, docks innovative construction products, and eco-friendly solutions. Check out stylish decor options, arts and crafts, food and entertaining ideas, exciting toys and equipment for your home and cottage, and much, much more. 

LIVE MUSIC: Victor Cooper @ Meyers Creek Brewing

Meyers Creek Brewing is welcoming Victor Cooper back to the brewery! Raised in Eastern Ontario, Canada, Victor is one of eight children. He spent most of his childhood either climbing trees, or writing music. Soon music took over and for the past twenty years Victor has been writing his own material. His folksy sound and vocal range allow him to express himself through originals as well as a very wide variety of covers from Johnny Cash to Michael Jackson.