TREB contacted a number of stakeholders in the Greater Golden Horseshoe area – an area that has already been identified by Phil Soper, CEO of Royal LePage as a hot market for 2016
– to determine what could make it an even more attractive real estate market.
“Taken together, it is clear that all stakeholders view the GGH as a great place to live, work and play. Many stakeholder responses described the GGH in terms of its diversity, opportunity, prosperity, growth, and livability,” TREB said in its inaugural Year in Review and Market Outlook. “All of these terms underscore the region’s reputation for a high quality of life and economic vibrancy. A positive reputation also helps encourage migration to the GGH, which can sustain population growth and contribute to the region’s economic wellbeing.”
Those stakeholders identified a number of areas that would make the Greater Golden Horseshoe even better.
“A coordinated, modern, multi-modal transportation network is required,” TREB said.
“Residents and businesses of the GGH require and depend upon reliable public infrastructure,” TREB said. “For the future of the GGH, public infrastructure must be vast, interconnected, and in good standing.”
Affordability and housing options
“ … as the population has continued to grow (more than 100,000 people per year, on net), the demand for new low-rise home types has remained very strong,” TREB said. “The result has been higher land costs and ultimately higher new home prices.”
That, of course, has benefitted investors in recent years. However, even if affordability is addressed, there will still be plenty of options for investors to add to their respective portfolios.
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:
Saltcoats, Lake Echo, Greater Madawaska, Stratford, Eureka
It’s already identified as a hot-spot for 2016, but if the Golden Horseshoe addresses these concerns it could be even more attractive for investors.