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Top Places in Ontario to Invest In

Top Places in Ontario to Invest In

Are you saving up and thinking about investing in real estate within the province of Ontario? Huffington Post writers Sonia Bell and Wayne Karl have put together a list of the best places in Ontario to invest in and we’d like to present this list to our website readers today.

Some of the best places to invest in Ontario are Milton, Guelph, Brampton, Oshawa, Barrie, and Toronto & Oakville. Let’s go into more details below.

Milton

As one of Canada’s fastest-growing cities, Milton has become a popular place to keep an eye on. It is affordable (compared to Toronto prices), close to major highways like Hwy 401, and within decent commuting distance to several GTA businesses. There have been talks recently about improving transportation services and location of employers along major highways to allow residents to work closer to home. This will give Milton a greater appeal in the future, which is great for investors.

Guelph

Guelph is a bustling and well-kept city that boasts growing agriculture, education, health-care and manufacturing sectors. It remains in a affordable price range for most people, especially those who cannot afford Toronto housing prices. It is only a 40-minute drive to Mississauga and Toronto. It is a busy area with many University of Guelph students, so the opportunity is there to invest in properties and cater to the thousands of university students renting, as well as the university graduates remaining in the region after they complete their education.

Brampton

This highly populated city has new transit projects taking place all the time. There is also a possibility of an expanded school campus with Ryerson (in partnership with Sheridan College) occurring in the near future. This means the potential for a surge in student renters and demand for apartments and homes.

Take note: Brampton is already quite popular for investors so there may be lots of competition as well as increases in pricing among detached homes. Interest and desirability in condos, rentals, and townhouses therefore will most likely go up.

Oshawa

Oshawa has been experiencing double-digit price growth recently, with a jump of 8% more than Toronto between 2015 and 2016. Oshawa is attracting tons because of its prices – they are reasonable and much more affordable than Toronto, plain and simple. Another reason why it is good for investors? It’s decreasing vacancy rates and rising population. Between 2012 and 2016, the percentage of properties bought by investors went from less than 1% to 9.6%!

Barrie

Barrie has always been a popular area for hot real estate due to its waterfront proximity. With Lake Simcoe and several other smaller beaches being less than 100 km from Toronto, this region is probably the most appreciating area in Ontario right now. Its population is predicted to increase to 210,000 by 2031. It is a popular space for individuals commuting to Toronto each day, and therefore is a great investment because of these features:

  • increasing student population
  • proximity to Greater Toronto Area
  • large commuter population
  • location to waterfront areas, lakes, and beaches
  • access to GO Transit

Others: Toronto and Oakville

Despite Toronto and Oakville having some of the highest prices on the market in Ontario, there are still good places to invest if you have the money to do so. They have low vacancy rates, high rents, growing populations and investment in infrastructure. They are popular areas for individuals and families working in the GTA or in downtown Toronto, so you can be sure that you will have regular cash flow coming in.

However, like it says above, these places are only smart to invest in IF you have the capital to do so. The only way an investor will be successful is if they plan to invest in a property long-term and earn money through long-term property appreciation. So think carefully about the location and space you invest in if you decide to do so!

*Note: Vacancy rates and average rental rates come from Canada Mortgage and Housing Corp, average home prices from Royal LePage and Brookfield RPS.

Source: Huffington Post, all charts and images from Huffington Post.