First-time homebuyers, investors and move-up buyers were all active recently, feeling the good vibes after a prolonged absence of residential activity in much of the province.
Nonetheless, there could be a slowdown ahead. The Canadian Real Estate Association says that while prices will likely rise 5.3 per cent this year to reach an average of $330,900, they also predict a 3.3 per cent drop in 2011 back down to $320,100.
Thus finding a good investment this year could be challenging in some parts of Ontario. Still, many Realtors in select areas of the province say they are still getting good interest and activity from investors, as many see some of the best long-term prospects in Ontario.
Below we have highlighted some of these top investment towns in Ontario. This is the conclusion of a series that already examined Western Canada and the Prairie Region, based on the picks from the Real Estate Investment Network (REIN) in an April report. REIN's comments are listed below as well.
For the full article explaining where to invest in Ontario pick up a copy of the August issue, on newsstands now.
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Investment Hot Spots:
Greenspond, Jordan Bay, Fernie, Alonsa, Russell
Spurred by lower interest rates and HST fears, buyers were out in force to start 2010 in Ontario. But improved employment, a strong economy and growing optimism seem also to point to continued stability even after the short-term effects wear off.