Saint Catherines is one of the fastest growing Ontario young economies. Go train expansion is one of the reasons. Brock University and few colleges is another.And when you get into the Niagara real estate market, you get a deal compared to Toronto’s inflating prices. For instance, in December 2014, in Niagara, you could sell a home for the average resale price of $251.531. In Toronto, you’d be looking at an average price of $1 million for a detached home. And Niagara can offer you benefits that the GTA can’t. Here are two: 1- Bungalows.People are moving to Niagara for bungalow-type living.” In the GTA, two-storey homes or townhouses are your options. Here, half the product built is bungalows, and it’s hard to find that, out of this area. 2 -Smaller homes. These are a pattern especially in the St. Catharines real estate market,You need more housing units, then, because fewer people are living in those houses. Residential building permits in Niagara Region have jumped too. Just take a look at the numbers that were issued from 2012 to 2014:Finally, you can invest in luxury homes in the St. Catharines real estate market. In 2014, at least 21 properties over $1 million sold in Niagara. You’d be in the company of local professionals, businesspeople, wealthier retirees and the Asian market—they’ve all been buyers. So there’s been a range. For some, it’s their second property.
More facts about the St. Catharines real estate marketIn
February 2016, in St. Catharines, 25 per cent of properties sold for more than their listed price.. Toronto real estate market is continuing to soar, but recently we seen more growth in other areas of the province. Windsor, Sudbury, Oakville and St. Catharines are among these areas.St. Catharines is among a number of cities with housing markets producing year over year price gains ranging from 10.8 to 23.8 per cent.Rising prices are increasingly pushing Hamilton homebuyers out to places like St. Catharines and Brantford.
The average price for detached house in Saint Catherines is still less than 500000 K
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So how about having an investment detached house - rent it out to tenants and get the mortgage paid within few years? The chance is now while prices are still low. If you want to know more about this opportunity - please feel free to contact me.