Price increase for Perth Meadows suites forthcoming in 2023

NORTH PERTH – The council of the Municipality of North Perth approved an increase of 15 per cent to the purchase price of suite units at Perth Meadows effective Jan. 1, 2023 at its Nov. 14 council meeting.

The current purchase price of a suite at the Perth Meadows retirement residences has not changed since prior to the pandemic, in January 2020. To become more reflective of the current housing market, staff retained a local realtor to recommend a potential increase in the selling price of a unit.

On Nov. 2, the Perth Meadows Adult Living Care Residence Committee reviewed this proposed price increase from 10 per cent to 15 per cent.

“The Perth Adult Life Care Residences Committee recommends a 15 per cent increase on the purchase price for the suites at Perth Meadows for the finance department’s approval and North Perth council’s consideration,” stated the report.

The one-bedroom style current purchase price is $153,500 and will change to $176,525, while the two bedroom unit’s purchase price is $194,000 and will increase to $223,100.

North Perth council approved this price increase and these price changes will take effect in January 2023.

Melissa Dunphy, Local Journalism Initiative Reporter, Listowel Banner