Waterloo, a region built on innovation, collaboration, creativity, entrepreneurship, and hard work can be seen among the fastest developing communities in Canada. It is ranked the second highest density of the world’s start-ups and not living out the fact that the region is home to many development offices and headquarters of some of the world’s renowned automotive, high-tech, aerospace and advanced manufacturing companies.
With all of these current features in the Waterloo region, the local real estate market of this area has taken it as an advantage and skyrocketed to be seen amongst the leading local market with properties of all class offered by top rated real estate investors. For this, everyone seems to see Waterloo as a dream destination with several open opportunities open for its dwellers. Properties in this region are known to be highly affordable as compared to its major city neighbour – Toronto.
While it’s still more reasonably priced than Toronto and Vancouver, the region has seen home prices rise quite significantly. A house that was bought in the Waterloo region in 2013 is said to have a 40% value increase since the purchase date. The average price per home in the Waterloo region in March stood at over $582,000 while in an area like Cherry Hill today an average home is seen at $400,000 and these homes never rarely spend up to ten days on the market. On a national scale, in that same March, Canada’s home prices dropped to $491,000 – a 10% fall from the same month one year prior. Which shows the stability in Waterloo region’s real estate market.
Apart from the growing real estate market in Waterloo, transportation to and from major cities like Toronto is becoming easier. As the city prepares to have more frequent, two-way all-day- Go services locally. Another positive transportation development project recently announced earlier this month, was led in Kitchener by the Premier of Ontario Kathleen Wynne. She explains the liberal government’s plans of moving forward with the $11B high-speed rail between London and the GTA, which automatically includes Waterloo region, ready as soon as 2025. The high-speed rail has been talked in this area for as long as the 1970s, all thanks to a recent budget by the liberal government that can now bring the project back to life. This high-speed rail transportation system is to ease movement from Toronto to the Waterloo region and create more jobs for its inhabitants.
Benefits of living in Waterloo region;
This region is highly affordable with a total living cost significantly lower than national, international and Ontario averages. Owning an affordable home is Waterloo is very possible.
The region has a lot of job opportunities. With a strong outlook for employers increasing their rosters.
Living and working in this region has been simplified to ground level with over 80% of Waterloo workers settling within 30 minutes to their job sites.
Uncomplicated traveling, walking trails, bike routes, and easy urban transit has made traveling in this region effortless.
For those facing challenges in owning a property in the Toronto region or anywhere else due to affordability, the Waterloo region is always welcoming with its affordability, innovative culture, and job opportunities.
At Team Burca Real Estate we are committed to providing clients with excellent service. This includes educating clients on their best options when it comes to Real Estate. As Re/Max agents, we are apart of an organization that sells 1 in every 3 homes sold in Canada. We would love to work with you on your real estate needs. For more information, contact us today!