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Ontario's Top Ten Towns
Real estate expert Don Campbell and the Real Estate Investment Network have just released the top ten Ontario towns for real estate investors. Compiled from the research conducted by REIN, the top towns for real estate investment are:
1. Kitchener, Waterloo and Cambridge - Comprising Canada's Technology Triangle, the region is quickly becoming known worldwide as a competitive area in which to build a high-tech business. The area is so strong economically that the Real Estate Investment NetworkTM research team has dubbed it the "Economic Alberta of Ontario".
2. Barrie and Orillia (tie) - Barrie is an attractive community for people seeking the nearness and vitality of Toronto but with a slower pace of life. Orillia, with a rising population and expansion of post-secondary institutions, has tremendous opportunities for investors to provide student housing.
3. Whitby, Ajax and Pickering -The ripple outward from the Toronto toward this region has been picking up steam over the previous decade. However, until quite recently much of this demand increase has been from commuters wishing to locate in a lower housing-cost region of the GTA. Now, the area is attracting an increasingly diverse list of local employers.
4. Markham - Markham is known as the high-tech capital of Canada, with over 900 advanced technology and life science companies. This influx has led to the area outperforming many other areas of the province, in terms of both economy and real estate.
5. Hamilton and Brantford (tie) - Hamilton is transforming itself into a more diversified economy. A revitalization of key areas, a soon-to-be-opened new transportation route, and a stock of older, quality homes, will help keep Hamilton on the top ten list for many years to come. Brantford is strategically located and offers affordable housing. The multiple satellite secondary education campuses already located in the city provide a vibrant and younger population base.
6. Brampton - The city has a diverse and growing economy that, if anything, is growing a little faster than the infrastructure. Revitalization and densification of existing older areas will be a real key to Brampton living up to its ultimate potential.
7. Ottawa - Higher home-ownership costs, immigration and youth employment lifted rental demand in Ottawa. It is forecast that the city will pass from a very hot resale market with solid price augmentation to a more balanced market that will be more sustainable in the long-term.
8. Toronto - Taken as a whole, Toronto's real estate market will under-perform many of the surrounding regions, yet key neighbourhoods will have breakout years. Older condo units and ground oriented units in the areas such as Bathurst Manor, Armour Heights, and The Junction will do well in both average price increase percentage and potential cash flow. New high-rise condos located downtown and along the waterfront will still see demand. Other great transition areas include the Danforth, Palmerston-Little Italy, Woodbine, Gerrard and Jones.
9. Oshawa - The re-development of the downtown and many other developments about to be announced for the area will put the spotlight on a previously underperforming area of the city.
10. Whitchurch-Stouffville - This continues to be a town with tremendous potential. With low vacancy rates, no substantial increase in the number of rental units planned for the future, and a rising demand for the "country in the city" lifestyle, the town's biggest problem will be dealing with its growth.
April 13, 2008 in Location, location, location | Permalink
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Comments
It is interesting to see this kind of research. I work for a Toronto realtor and I appriciate effort to publish results of this research. I do not know what criterias were used but it seems to be helpful for investors. In my opinion this time is not right to invest free financial means to buying a house. Prices of houses reached the top not long ago and they need some time to decline.
Posted by: Toronto realtor | Apr 17, 2008 9:00:13 AM
vancouver's west end which borders stanley park, english bay and coal harbour is BC's 10th largest town!
Posted by: maggie-vancouverreflections blog | Apr 15, 2008 11:01:44 PM
My husband is from Mississauga, the way he talks about it, I'm surprised it was not ranked in the top 10. I would love to see Canada someday! I hear it is beautiful. Great write-up!
Posted by: Atlanta real estate | Apr 15, 2008 8:43:25 PM
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