COVID-19 has had an impact across the province, the country, and the world, as many of us had paused our usual business activities in Ontario real estate and MLS Ontario searches. Remembering that this is a transitory situation is just as essential as keeping yourself and your loved ones safe during this extraordinary crisis. Life will begin to return to routine, and we will be able to resurrect ambitions that we had previously abandoned.
Keep your finger on the pulse if investing in Ontario real estate was part of your 2021 plan. An expert Realtor can keep you up to date on what’s going on in real estate markets around the province of Ontario, which have proven strength and favorability. For those in the market to buy, we’ve included some of our best picks for individuals wanting to obtain an investment property in Ontario.
NIAGARA REGION
Aside from a magnificent cascade, the Niagara Region has a lot to offer. The region is one of the most popular tourist attractions in the country, attracting wine lovers, casino goers, and others. Niagara is also home to a rapidly expanding number of enterprises and inhabitants, with a shortage of affordable housing and rental units.
The average property price in the Niagara area varies substantially amongst the cities that make up the region.
According to the Niagara Association of Realtors, the average price of a property in the Niagara Region for the month of August was around $693,393, although there is a wide range of prices within the region. Home values in the region are tipped by the cities of Niagara-on-the-Lake and Fonthill & Pelham.
Investors seeking the most return on their investment should consider inexpensive communities with low vacancy rates and high demand. Check out mls Ontario for additional information and insight into the Niagara region.
KITCHENER/WATERLOO/CAMBRIDGE
Waterloo is home to a booming IT industry, colleges, cutting-edge medical facilities, and a real estate market that has lately experienced encouraging development. Despite Blackberry’s reduction due to competition, IT companies continue to come to the Waterloo region. Making a name for itself in the Ontario real estate market as a popular mls Ontario destination.
In 2020, Kitchener-Waterloo rated 11th out of 16 of Canada’s most populated areas on the affordability scale. Although the COVID-19 public health issue briefly cooled several markets across the province, demand finally outpaced supply in the Ontario real estate market, resulting in a robust rebound.
LONDON
London had a scorching hot market heading into 2020, and the trend continued into 2021. Two major post-secondary institutions, Western University and Fanshawe College, as well as many significant hospitals, are located in the city (St Joseph and LHSC). These institutions are not only important for maintaining a continuous flow of people into the city, but they are also three of the city’s major employers.
London has recently seen an influx of digital media businesses set up shop in the city’s central centre, giving the city a reputation. These are just a few of the numerous reasons why the city has seen considerable growth owing to migration from the GTA over the last five years, adding to the strong demand for homes in Ontario.
Despite a COVID-19-related softening of demand, London remained a seller’s market throughout 2020 and has remained thus far in 2021. North and South West London are ideal locations for real estate investors wanting to buy in the city’s trendiest areas, since they are near to the city’s hospitals, universities, entertainment and retail centres, as well as Highway 401. As a result of the tremendous demand, vacancy rates in certain locations are extremely low. Residents of the GTA have chosen London their go-to mls Ontario investment destination.
East London is a trendy neighbourhood worth checking into if you’re searching for a more inexpensive investment property inside the city and want to take advantage of Ontario real estate’s strong appreciation rates. Property prices are still far lower than those in Toronto and the surrounding area.
WINDSOR
Windsor, located on the southernmost tip of Ontario, across from Detroit, is a city on the rise from all aspects! While Windsor has long been recognized for its low cost of living and affordable housing, the tides have been steadily turning in recent years. The area has become a popular corporate destination, and as a result, Windsor’s employment rate has risen to its highest level in almost two decades. New immigrants are attracted to the area because of the job opportunities, which is pushing up property demand.
This rate of development is fueling an already high level of home demand, which is driving up prices, but Windsor remains the most inexpensive city in the Ontario real estate market when compared to the rest of Canada.
MLS Ontario – Investing in Ontario Real Estate
This impact on major Ontario cities has also had a direct effect on the smaller townships across Ontario real estate market. For example, while many GTA residents are looking into London for investment, London residence unable to compete venture of to smaller cities such as Lucan, Strathroy, and St Thomas. These smaller cities have seen record appreciation rates and have played a significant role in the mls Ontario real estate market.
For more information contact us and let us help you start your journey to success or take the opportunity to search MLS Listings.
