The east of Toronto hotspots where “you can’t go wrong”

by Jamie Henry on 13 Jan 2015
While some markets west of Toronto 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, Oshawa, Pickering and Whitby, 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
 

Post a Comment



Most Trending News

Assessing average condo size: Toronto paying more for less
News

Data from Statistics Canada and Royal LePage indicate that in recent years, the square footage of Toronto condos has been shrinking at an arming rate.

Read More
Mortgage rates back up as GOC bond yields rise
News

Global bond yield rates are up this month, and Canada is not missing out on the action. Yield rates surged to 1.24% from the 0.85% of late September.

Read More
Toronto snags number two spot for world’s largest real estate bubbles
News

Toronto is making global headlines this week after receiving the not-so-coveted number two spot of the world’s worst real estate bubbles.

Read More