Toronto is overcrowded, which leads homebuyers and investors alike to turn outwards and seek greener fields on which to graze their dollars.
The real estate markets in the wider GTA and farther outside are also in constant motion and it takes an extra careful examination to identify the cities in the area that are worth going for.
We’ve taken the time to analyze the markets and have come up with this list of top 5 places in Ontario to invest in real estate.
Pretty obscure until recently, Milton has risen and showed an impressive rate of growth in recent years. In fact, it is now one of the fastest growing cities not only in Ontario, but in all of Canada. It is by far the best choice if you intend to invest in real estate. It is located near major highways connecting it to nearby cities and jobs, and also to rail and air transportation, making long distance travel easy. With this rate of growth being relatively recent, the prices are still not sky high, so it’s still a good time to purchase a property at a fraction of a similar one in Toronto.
This city has a strong economy, active agriculture, buzzing manufacturing, as well as sound healthcare and education systems. This attracts families of middle-high income and skilled labour, driving the prices upwards. With Toronto real estate being overpriced for most of them, but still located close enough to travel over for work, Guelph is a great option for families with the ability to drive to Toronto. Those people are able to pay relatively high rent, keeping the investor’s cash flow positive despite the relatively high purchase costs for properties in this city.
Brampton has been growing in population and employment opportunities for a long time, and the result is a very low vacancy rate in the city. This means very happy investors of course. Moreover, construction and development don’t seem to be anywhere near slowing down, with new neighborhoods being built and a new transit project underway to increase the city’s connectivity. With a Ryerson campus intended for Brampton in the near future, investors can expect to benefit from student renters that will flow to the city from other areas. In short, we predict Brampton to bloom and grow for many years to come.
Last but not least, Oshawa is among the first in the price growth list among Toronto’s suburbs. The price growth in Oshawa has reached and remained in the double digits, rising by eight percent above Toronto in this metric.
The reason for this growth is in fact that the prices were, and still are, extremely more affordable than in Toronto, making it preferable and increasing buyer demand. This in turn reduces vacancy rates as the population grows, making the place perfect for investors. You can purchase real estate for less, and get a great positive cash flow with little or no complications along the way.
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