Experts have indicated Canada will need to build millions more homes in the next 10 years to meet our growing needs. To the casual observer the problem is easy to solve: just build more homes. For those in the real estate development field, the problem is much more complicated than this.
Niagara-on-the-Lake Home Price
The median asking price in Niagara-on-the-Lake is $799,000, a substantial increase over the median three months ago which was $698,900 .
While the median for Ontario is $349,900 , which means that Niagara-on-the-Lake’s median price is $799,000 considerably better than the rest of the province.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have fewer bedrooms than the most commonly available across the nation.
According to our stats, Niagara-on-the-Lake is the neighbourhood that has the 73th most properties available to real estate investors in Ontario.
When we look at the data we have, it can help with trying to establish whether or not Niagara-on-the-Lake is a good investment target.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Niagara-on-the-Lake there is less stock than three months ago. This would indicate home price pressure increasing as housing stock availability drops.
When looking across the province, Niagara-on-the-Lake is the 26th most expensive in Ontario.
The $405,000 price tag on the median Niagara-on-the-Lake home means that it is quite highly priced by Canadian standards.
According to our stats, Niagara-on-the-Lake is the neighbourhood that has the 44th most properties available to real estate investors in Ontario.
As one of Ontario’s many potential real estate investment neighbourhoods, Niagara-on-the-Lake needs to be carefully researched before investing in – and remember to check especially the locations within an area before spending - the old estate agent’s mantra of location, location, location has never lost its importance.
Because the amount of real estate listed for sale has decreased it looks like housing market forces in neighbourhood are likely to put upwards pressure on house prices.
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