It doesn’t take an experienced property investor in order to know this Canadian market is expanding almost beyond the comprehension of anyone. There’s never been a more ideal to invest in the rapidly growing real property market. The real estate market across the country are seeing steady increases every quarter. The only thing that is left to be answered is where for a place to invest your money.
Investors looking for the ideal opportunity within the vast Golden Horseshoe region should consider looking into Oshawa. The town is growing and lies at the eastern end to the Greater Toronto Area, right along the shores Lake Ontario. Oshawa has 170,000 residents (and counting) as well as close connections to numerous established market places for business. Growing population, beautiful nature and plenty of opportunities for employment create Oshawa the perfect place to settle. This makes it the ideal place for the real estate investor looking for a thriving market that offers opportunities to make money over the long run.
If you’re looking to make some money through real property, Oshawa is the place to begin.
Oshawa’s Little Lost Momentum
In the event that the novel coronavirus spread all over the world, investors in the Canadian real estate market were preparing for a dramatic loss in the profits of the country’s property market. In May and April, that recession took place in the form of Canadians were confined to their homes. After two months of being at home thousands of Canadians were not thrilled at their new surroundings. Many of them decided that it was time to search for their dream home.
The market in August witnessed phenomenal activity, as the home sales rose by 44.8 percent over the previous year. This fervent desire to build new houses in the Oshawa area is rapidly taking up all the supply of homes listed for sale. If the supply of homes shrinks, the price is expected to increase in line with the drop. This is good news for who are able to get their hands on residential real estate earlier.
The new coronavirus’s effects isn’t felt as terribly in Canada as it is in other nations however this does not mean that COVID-19 has not left the country in a state of shock. Although vaccines are being rushed to Canadian population in the hope of returning the country to normal, the economic challenges persist.
The decline in the average of Canadians’ economic well-being is evident in a decline of Canadian price of rent. Once-celebrated Toronto market that was dominated by rents dropping by 17 percent between the month of October between October 2019 and October 2020. When compared to the plummeting rental rates, Oshawa has been stable. Rents dropped there by less than one percent, which is a tiny part of the damage that was caused to Toronto’s landlords.
This isn’t just a coincidence also. The rental market in Oshawa continues to rise, beating Toronto and the other neighbourhoods. Toronto as well as the rest of neighborhoods that comprise the GTA.
Oshawa Has The Tech To Compete
If you are searching across the country to find the ideal potential investment in real estate it’s important to examine the businesses already operating within the locality and know their relationship to the market for real estate. The long-term viability that is portrayed by these industries is in tandem with the potential profit of real estate investment.
Let’s consider Oshawa to provide an instance, and the relationship between Oshawa’s vibrant tech industry and the real property market. If you’re looking at the country’s most promising sectors, the tech sector is at the very top. This is because Canada’s tech industry is growing annually and will continue to grow for the next decade.
So, any city that has high tech-related activity will see moderate to rapid growth in the real property market. In the present, Oshawa stands as the only city within the GTA apart from Toronto that is ranked among the Top 20 Technology Talent pools across Canada. The city has a tech orientation at nearby universities, with increasing jobs in the field of tech.
This means that new companies are popping up and fresh employees heading to tech centers to claim their share from the cake. Each one will require an area to display their hat.
The Suburban Shift In Oshawa Real Estate
Real estate investors who are looking to test their luck at fixing and flipping their homes will be attracted by Oshawa’s market. Oshawa market. As the price of housing begins to level off in Toronto’s urban housing market, house costs in suburban cities are rising in a similar manner.
Experts in real estate believe this shift could be a consequence of the new coronavirus. The cities that are crowded can be less appealing because the fear of spreading is common. As more and more people realize suburban areas are more safe than the city’s center this is where they decide to go. As the market gets more active, home prices will rise in line with. The city of Oshawa, housing prices were up by double digits in 2020.
Luxury Opportunities In Oshawa
Investors in real estate looking for the highest yields in the market for luxury homes will find plenty to like. Oshawa luxury home buyers are enthralled by the variety of options available since large-budget homes that cost upwards of $800,000 offer a great value for money. For three-quarters of one million dollars within Oshawa you can purchase more space than what the same price could fetch you in Toronto. The sales figures show the success of Oshawa, too.
- In the year 2019, 64 homes priced between $800,000 to $900,000 were sold. In 2020, the number increased to 252 homes sold.
- 18 houses worth between $900,000 to a million were sold during the year. In 2020, the number was 96 homes sold.
- The year 2019 saw the sale of 28 homes worth over a million sold in Oshawa. This number almost tripled in 2020, with 51 homes that were sold.
Experts believe this isn’t just a temporary rise. The prices of homes in Oshawa are likely to continue to rise through the first quarter of 2021. The higher prices will eventually become the average for the market. In other words this is the best time to jump into the world of luxury homes in Oshawa.
Real Estate Professionals In Oshawa
We’ve looked all over the place for professionals in real estate investing in Oshawa. Below, you will discover professionals we’ve researched and are able to confirm that they specialize dealing together with Real Estate Investors.
To maximize your chances of success when investing in real estate in Oshawa or any other city, it is essential to employ professionals who are knowledgeable and deal with investors. Your income is contingent on it.
The list might not include all professionals in the field however, we will list the ones that we personally researched and to whom we would recommend customers to.