SOURCE: THE ST. CATHARINES STANDARD
Written By: Allan Benner, Standard Reporter

Niagara is among the best places to buy real estate in the country, according to a study released Wednesday by an online business magazine.

An annual study published by MoneySense places Niagara in fifth place among the top 35 regions across Canada — up seven positions compared to the region’s 12th place spot in the 2018 study.

The study lists average Niagara home prices at $395,500, with an eight per cent return on investment after one year.

Niagara Association of REALTOR®s president Deanna Gunter said the region’s ranking in the study reflects the lifestyle many residents enjoy.

“Naturally, those of us who reside in Niagara have always know what a fabulous region this is,” she said.

She said property within the region offers a great value, compared to other areas.

“Over the last two to three years, real estate market values have increased significantly in Niagara; however, we still remain one of the most affordable regions in our country,” Gunter said.

“Our region is constantly improving and working on initiatives such as the GO train expansion and regional transit. That combined with more local development projects than we can list here, the 12 diverse municipalities of Niagara are thriving and continue to be a fabulous place to work, invest, play and most importantly to live.”

Niagara’s ranking places it behind Windsor, Guelph, Brantford and Victoria in the top four spots, respectively. London and Hamilton took the sixth and seventh positions.

The study was compiled based on criteria such as property value and affordability, future real estate appreciation, as well as expert insight provided by a team of REALTOR®s looking at the local economy and rental market.

The study also incorporated data from the Canadian Real Estate Association, Canada Mortgage and ousing Corp., the Québec Federation of Real Estate Boards and various other real estate organizations, and considered such issues as the ratio of average income to average housing prices and unemployment.

“The top-ranked cities have strong economies, solid rental markets, good value for your dollar and robust price appreciation,” the magazine’s report said.

Gunter said Niagara Association of Retailers expects the region’s robust real estate sales to continue.

“We are experiencing a very fast-paced, busy spring market in St. Catharines and across the region.”

 


Allan.Benner@niagaradailies.com
905-225-1629 | @abenner1

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