Ontario Real Estate, Poised for Growth

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Whether you are drawn to its gorgeous lakes and waterways or the lush vegetation of the many parks and trails or the hustle and bustle of Ottawa and Toronto, Canada’s Ontario province is simply a wonderful place to call home. While there was a slight lull in the Ontario real estate market, and really the entire Canadian real estate market, following the introduction of the mortgage stress test in 2016 by the Office of the Superintendent of Financial Institutions (OSFI), many real estate experts are reporting that buyers and sellers are ready to jump back in.

Ontario Real Estate Snapshot

According to the Housing Market Outlook report recently released by the Canada Mortgage and Housing Corporation, “Ontario and British Columbia’s outlook for sales growth is relatively strong in 2020 and 2021 when compared to other regions.” One of the prime factors cited is the relatively larger pool of disposable income that residents have to invest in Ontario real estate versus residents of other areas. Both Toronto and Ottowa are projected to enjoy strong residential real estate growth, while Toronto will be further buoyed by commercial real estate growth as well.

Benefits of Investing Now

The inventory of Ontario homes for sale may start to climb with the momentum of a hotter real estate market, creating more options for buyers as sellers who were waiting out the slump list their homes. Plus, historically low interest rates, which are expected to remain low in 2020, combined with a potential easing in the loan qualification process, as signalled by the recent review of the stress test criteria, are a perfect marriage for investors.

Where to Buy

While Ontario boasts many beautiful towns, the largest portfolio of Ontario homes for sale is divided between Ottawa, Toronto, and the industrial hub of Hamilton. Toronto is one of the fastest-growing cities in Canada and the United States combined, which continues to be an engine for Ontario real estate in that area. Immigration and plentiful labour opportunities are both acknowledged to be contributors to the strong economic and population growth of Toronto. Meanwhile, when it comes to investing in Ontario homes for sale on a budget, Ottawa remains one of the most affordable major cities in Canada.

A question to consider when investing in Ontario real estate is what type of real estate portfolio you wish to build. Are you planning to cater to families, and therefore will you predominantly search for single-family Ontario homes for sale, perhaps in the Beacon Hill North area given its proximity to one of the best public high schools?

Or, do you envision purchasing smaller multi-unit complexes in hip, urban areas like The Annex near the University of Toronto or the Westboro neighbourhood in Ottawa? If this is the case, then the profile of your Ontario real estate research will look quite a bit different.

So, is now the right time to invest in Ontario real estate? The short answer is yes. The low cost of leverage combined with greater choice and a forecasted increase in home valuation could yield strong profit potential, particularly in Ontario real estate. As with any investment, do your research, evaluate properties based on your goals, and on a neighbourhood-by-neighbourhood basis, because when it comes to real estate investing, the details matter.


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