What about property values?

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The condos and townhouses of the PPU will reduce the values of our properties. The residential homes planned for in the PPU will also directly compete with our homes, bringing the prices down as the number of homes for sale increases. Those two factors are just basic tenets of real estate supply and demand. But what happens when on top of that you also lose green spaces. The PPU is a double threat: we get both lower priced housing in our backyards and destruction of green spaces. What a recipe for disaster.

This is what the very well respected Biologist Patrick Asch had to say. From the Chronicle, May 9th 2012 Edition.

“On average, adjacent to a protected and enhanced natural environment, there is a landvalue increase of up to 32 per cent. Most studies conducted on this go on to say this.


SOURCE:THE WEST ISLAND CHRONICLE

Full Story – The Chronicle – May 9th 2012 – Densification fears spur Ste. Anne conference

Some quick math: 32% of a $300,000 house is over $90,000 – and I trust Patrick Asch more than any politician.