The latest edition of MoneySense magazine has ranked Durham/Oshawa as the No. 1 place to buy real estate in the Greater Toronto Area (G.T.A.).
MoneySense looked at Canada’s top 35 largest cities and compared housing prices and price appreciation then factored in value, momentum, income potential and economic health.
In the overall rankings, Durham/Oshawa placed 1st in the G.T.A., as well as 9th in Canada (up from 10th in 2015). In the ranking for 5-year price appreciation, Durham/Oshawa placed 1st in the G.T.A. and 2nd in Canada.
According to the study, the average price for a home in Durham/Oshawa is approximately $439,842, with an impressive 5-year price appreciation of 8.0 per cent.
Two Oshawa neighbourhoods, when compared to 400+ neighbourhoods in the Toronto area, made the Top 25 list for Real Estate Investment. The Central Oshawa neighbourhood ranked #5 and the O’Neill neighbourhood ranked #25.
Additionally, two other Oshawa neighbourhoods, Windfields and Taunton, received a 4-star realtor grade and were among a small group of 19 Toronto neighbourhoods (out of 400+) to receive the top 4-star rating.
“Oshawa is one of the best places to live and invest,” said Mayor John Henry. “Our community boasts an exceptional quality of life with top-notch post-secondary options; job opportunities in growth sectors; and a wide variety of leisure and recreational opportunities. Include an integrated transit network of Highways 401 and 407, Durham Transit, GO Transit, VIA Rail, airport and harbour. Oshawa simply has it all.”
“Oshawa has a robust housing market with both existing home sales and sales in new subdivisions,” added Councillor John Aker, Chair of the Development Services Committee. “There is excellent choice and value for home buyers who want to live in a healthy, safe and progressive community. Welcome to Oshawa!”
For more information, view the article on the MoneySense website.