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

The advantages of investing in real estate

Even amid the pandemic, there are plenty of advantages to investing in real estate. Here's what Cliff Fraser, chief business development officer of Burlington, Ontario-based Equiton Inc., has to say on the matter.

Read More
Bank Of Canada Holds Overnight Rate Steady

"Recent jobs data show that workers in contact-sensitive sectors have once again been most affected. The employment rate remains well below its pre-pandemic level, with low-wage workers, youth and women continuing to bear the brunt of job."

Read More
In Toronto, condos are your best bet

According to Point2 Homes’ 2021 Homebuyer Survey, 51% of Canadian respondents said they have no worries buying while 44% said they're unsure when they'd buy due to low inventory and high prices.

Read More