On June 28, 2006, Canada became the 12th country in the world to surpass 1,000 megawatts (MW) of installed wind energy capacity. This will give electricity to over 315,000 living spaces in Canada. And numbers are expected to increase dramatically. Robert Hornung, President of the Canadian Wind Energy Association believes Canada has the potential to “maximize the economic, industrial development and environmental benefits associated with wind energy.”

Wind is the fastest growing source of electricity in the world. Known as a type of “Green Power,” it is cleaner than producing conventional energy because it produces little or no pollution. It is cheaper and more economical for residents and businesses. Small wind turbines are also an option for individuals who live in remote areas and cottage communities. Installing a small wind turbine at the cottage will reduce dependence on the grid and allow the cottage owner to produce their own electricity. These systems conserve energy, which will help to preserve the natural environment. By 2015 provincial governments plan to reach a minimum of 9000 MW of wind energy production. Currently, BC is the only province with no wind energy facilities operating at this time. For more on wind energy, read the “Eco Option,”.  www.canwea.ca www.smallwindenergy.ca

The national average for recreational property is rising — How much does your dream cottage cost?

They say it pays to dream big. However if you are one of the many who aspire to have that humble cottage on the water — your dream just got more expensive. According to the annual property report published by real estate firm, Royal LePage, the average waterfront, recreational property in Canada, is now $380,956. From this study done by Maritz Research, these numbers account for a standard living space of 1,000 square feet, two bedrooms and one bathroom. That is the average, but all is not created equal. Depending on where you want your personal retreat, you will surely pay the price.

Popular waterfront areas in British Columbia and Alberta start in around the $900,000 mark. To balance that number out, the Maritimes offer more affordable options starting as low as $50,000. Crossing through central Canada between areas of Ontario to Saskatchewan averages range from $150,000-$300,000.

And prices are only expected to rise. Real Estate reporter Elizabeth Church says waterfront properties are in demand due to the, “growing wave of retiring workers.” Baby boomers are starting to indulge in recreational lifestyles. Church suggests that many of these people are interested in larger cottages that they can use all year round. And as the number of retirees increase, so are the prices for property.

The resource industry in Alberta is another trend driving real estate prices across Western Canada. As the economy booms, workers in the field are making five figure incomes and buying cottages as their “get- a-way”.

Supply and demand is also an issue. Canada is a country that borders two oceans and hundreds of lakes and rivers. However, when waterfront land is gone, it’s gone. The Maritz Research survey found that only 15 per cent of current owners are interested in selling.  As the number of buyers’ increases and available land decreases, property price will be at a premium.

Overview of Real Estate Averages Across Canada — Starting Prices for standard size recreational property on waterfront: 

As seen in the Sept/Oct 2006 issue of Cottage Magazine