bask in the limelight of positive forecasts for 2015, investors are being reminded that there are great opportunities east of the city too.
“It’s going to continue to grow in the Durham region,” says Quentin D’Souza, chief education officer at Durham Real Estate Investors. “Prices are continuing to go up as well.”
According to CREW’s Investment Hot Spots data
, the median house price in the region, which includes Ajax
, is currently around $449,900.
Jose Jafferji, a real estate investor and Realtor, adds: “It’s close to the GTA
, but still affordable. As an investor, you can’t go wrong.”
However, likely because of this growth, the Durham region is getting tighter and there is not a lot of product on the market. The Investment Hot Spots data
shows that stock on the market is at 0.60 per cent in Ajax
, 0.61 per cent in Oshawa
, 0.64 per cent in Pickering
and 0.57 per cent in Whitby
D’Souza adds: “Any product available is going fast, especially investment properties.”
And the days on market for a typical Durham property is around 18, compared to 60 days just a few years ago.
“It’s a challenge to find properties and it’s very competitive,” says Jafferji. “But the Ontario economy is diversified and it will continue to do well.”
Quentin D’Souza will speak in the CREW Editor’s Room at the Toronto InvestorForum, sharing tips and resources on how to reduce the cost of managing rental properties.
Jose Jafferji will also speak in the CREW Editor’s Room at the Toronto InvestorForum, focusing on the debate around buy-and-hold versus fix-and-flip investment strategies.
The InvestorForum will be held March 28 and 29 at The International Centre in Toronto.
Register to attend the InvestorForum here
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Lyalta, Barwick, Saint-Zacharie, Saint-Robert-Bellarmin, Timiskaming, Unorganized, West Part
While some markets west of