Hamilton has seen a tremendous amount of growth over the last 10-20 years, and the real estate industry has been a driving factor in that growth. In fact, in 2015 Hamilton was ranked in the number two position for the top real estate investment hotspots in Ontario according to an annual report released by the Real Estate Investment Network. Hamilton has seen many years of record breaking growth with its real estate, and has been expanding into a beautiful and desirable place to live. The population has been rapidly increasing year after year, and the city is developing a unique identity rich in the arts, beautiful landscapes, big business and shopping opportunities. For investors, this growth marks a grand opportunity to capitalize on.
Over the last decade or so, Hamilton has seen several years of record breaking building permits valued at $1 million in response to the cities massive population growth. This is a colossal telling sign in itself, as it shows just how desirable the city is to both investors and home owners alike. A big part of this attraction is Hamilton’s close proximity to the Canada/US border, as well as the University town next door; St. Catharines being the home to Brock University. These are two very big selling points. In addition to this, the city is in very close proximity to the Pearson International Airport (a reasonably short drive away), and is very accessible to and from the city of Toronto; there is access to major highway as well as GO, and there are plans in the works to expand the GO even further, making accessibility to and from Hamilton even easier in the very near future.
Perhaps a more important factor is the price points. It’s no secret: GTA home pricing, and home pricing across Canada in general, has been raising at a rate that far exceeds that of inflation. To put it bluntly home pricing has been out of control for a few years now. With that said, it’s the big city of Toronto that has seen the worst of this trend. The further you get from Toronto, the better the home prices seem to be. As a result, many young families have been looking outside of the big city to find their dream home. Hamilton has evidently been a major hot spot for these families, and we’re at a unique point in Hamilton’s development in which yes, home pricing has been increasing, but the price points are still incredibly reasonable. For the time being, it can be expected that Hamilton still has a lot of room to grow as it catches up to some of the surrounding markets.
Moreover, there are plenty of revitalization plans for the city that also support the prediction that Hamilton home pricing still has room to grow. In addition to this, we’re seeing many old style homes being bought, torn down, and rebuilt as a modern gem to increase value. This will all help to pump up Hamilton’s overall real estate opportunity.
Hamilton offers a very wide variety of real estate as well, just like the big city. You’ll find beautiful, large and high end homes, you’ll find gorgeous mid-sized detached homes, and you’ll find stunning townhomes, condos, lofts and more. Whether you are a single person, a family, or an investor, there is no shortage of opportunity or selection in the great city of Hamilton.
With all of these changes and growth, Hamilton is being viewed by many as the next great suburb of Toronto. As a result, investors are starting to see the potential that this city has to offer. Those who have already taken the plunge have reaped great reward. As it currently stands, the opportunity in this city is still hot as ever, and now is a great time for investors to explore Hamilton as there next big investment endeavour.
If considering a property purchase in Hamilton, please feel free to reach out to me. I know this city like the back of my hand, and I’d be all too pleased to show you around and explore opportunities based on your needs.
As always, thanks for reading!
Direct: 905 906 6366
Office: 905 573 1188
Toll Free: 905 664 0600