October 2012 Ontario Economic Fundamentals
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Toronto house prices post healthy gains in third quarter
TORONTO, Oct. 3, 2012 /CNW/ - The Royal LePage House Price
Survey released today showed healthy year-over-year price gains for detached bungalows and two-storey homes surveyed in Toronto as inventory remains low in the region. Standard condominiums, which are more readily available, posted more modest gains.
Detached bungalows witnessed the largest year-over-year price increase at 5.9 per cent to $558,900. Prices for standard two-storey homes rose 5.4 per cent year-over-year to $660,115, while standard condominiums saw an increase of 2.7 per cent to $359,673.
Read the full article here.
TORONTO, Oct. 3, 2012 /CNW/ - The Royal LePage House Price
Survey released today showed healthy year-over-year price gains for detached bungalows and two-storey homes surveyed in Toronto as inventory remains low in the region. Standard condominiums, which are more readily available, posted more modest gains. Detached bungalows witnessed the largest year-over-year price increase at 5.9 per cent to $558,900. Prices for standard two-storey homes rose 5.4 per cent year-over-year to $660,115, while standard condominiums saw an increase of 2.7 per cent to $359,673.
Read the full article here.
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GTA Realtors release monthly sales figures
TORONTO, ONTARIO--(Marketwire - Oct. 3, 2012) - Greater Toronto Area (GTA) REALTORSÂ reported 5,879 transactions through the TorontoMLS system in September 2012. The average selling price for these transactions was $503,662, representing an increase of more than 8.5 per cent compared to last year.
The number of transactions was down by 21 per cent in comparison to September 2011. However, it is important to note that there were two fewer working days in September 2012 compared to September 2011. The majority of transactions are entered on working days. On a per working day basis, sales were down by 12.5 per cent year-over-year.
"While sales have been lower due to stricter mortgage lending guidelines, we continue to see substantial competition between buyers. The months of inventory trend remains low from a historic perspective, which explains the strong price increases we are experiencing," said Toronto Real Estate Board President Ann Hannah.
Read the full article here.
TORONTO, ONTARIO--(Marketwire - Oct. 3, 2012) - Greater Toronto Area (GTA) REALTORSÂ reported 5,879 transactions through the TorontoMLS system in September 2012. The average selling price for these transactions was $503,662, representing an increase of more than 8.5 per cent compared to last year.
The number of transactions was down by 21 per cent in comparison to September 2011. However, it is important to note that there were two fewer working days in September 2012 compared to September 2011. The majority of transactions are entered on working days. On a per working day basis, sales were down by 12.5 per cent year-over-year.
"While sales have been lower due to stricter mortgage lending guidelines, we continue to see substantial competition between buyers. The months of inventory trend remains low from a historic perspective, which explains the strong price increases we are experiencing," said Toronto Real Estate Board President Ann Hannah.
Read the full article here.
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Ottawa house prices continue to post healthy gains
OTTAWA, Oct. 3, 2012 /CNW/ - The Royal LePage House Price Survey released today showed Ottawa has continued to sustain healthy year-over-year price appreciation for all housing types surveyed.
Prices for standard two-storey homes increased 4.9 per cent year-over-year to $392,167, while detached bungalows increased 5.1 per cent to $389,583. Standard condominiums rose 6.1 per cent to $261,833.
"Despite the decline in government jobs, employment has been sustained because of new jobs created in the technology sector" said John Rogan, broker and manager of Royal LePage Performance Realty. "Market activity has tapered off modestly and this could be a result of perceived government job security. However, the first half of the year was very strong and market activity is still up year-to-date."
Read the full article here.
OTTAWA, Oct. 3, 2012 /CNW/ - The Royal LePage House Price Survey released today showed Ottawa has continued to sustain healthy year-over-year price appreciation for all housing types surveyed.
Prices for standard two-storey homes increased 4.9 per cent year-over-year to $392,167, while detached bungalows increased 5.1 per cent to $389,583. Standard condominiums rose 6.1 per cent to $261,833.
"Despite the decline in government jobs, employment has been sustained because of new jobs created in the technology sector" said John Rogan, broker and manager of Royal LePage Performance Realty. "Market activity has tapered off modestly and this could be a result of perceived government job security. However, the first half of the year was very strong and market activity is still up year-to-date."
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Brantford job data 'wonky'
Mayor Chris Friel says he believes Brantford and Brant County are not getting accurate statistics about unemployment rates because they're being collected and analyzed by a bureaucrat in a Hamilton office who doesn't know the area.
He says he wants to get to the bottom of the problem because it hurts the ability of local decision-makers to handle unemployment ills.
"I will speak sacrilege and say I believe our unemployment numbers are soft," Friel said Wednesday in a meeting of the social services committee, where he called for a staff report on how unemployment statistics are collected and translated.
Read the full article here.
Mayor Chris Friel says he believes Brantford and Brant County are not getting accurate statistics about unemployment rates because they're being collected and analyzed by a bureaucrat in a Hamilton office who doesn't know the area.
He says he wants to get to the bottom of the problem because it hurts the ability of local decision-makers to handle unemployment ills.
"I will speak sacrilege and say I believe our unemployment numbers are soft," Friel said Wednesday in a meeting of the social services committee, where he called for a staff report on how unemployment statistics are collected and translated.
Read the full article here.
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Ottawa to roll the dice on casino
EMC news - Mayor Jim Watson is backing a new casino for Ottawa and he'll ask the rest of city council to do the same.
The mayor took to Twitter to announce his support for an Ottawa casino on Sept. 24.
"I will ask council to signal interest, in principle, in a new gaming facility (no location yet).
This would allow the OLG (Ontario Lottery and Gaming Corporation) to seek proposals," the mayor stated through his Twitter account, @JimWatsonOttawa.
Read the full article here.
EMC news - Mayor Jim Watson is backing a new casino for Ottawa and he'll ask the rest of city council to do the same.
The mayor took to Twitter to announce his support for an Ottawa casino on Sept. 24.
"I will ask council to signal interest, in principle, in a new gaming facility (no location yet).
This would allow the OLG (Ontario Lottery and Gaming Corporation) to seek proposals," the mayor stated through his Twitter account, @JimWatsonOttawa.
Read the full article here.
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Ontario jobs market 'treading water'
Ontario's job creation initiatives came under attack from the provincial Conservatives Friday as Windsor lost its title as the unemployment capital of Canada for the first time in 15 months.
"The jobs market is treading water right now," said PC economic development critic Monte McNaughton.
"The province only gained enough jobs last month to keep up with the growth in the labour force, which is why the provincial unemployment rate barely budged from eight per cent (in August)," said McNaughton, who added that Ontario has lost 30,000 jobs in the past 12 months.
Read the full article here.
Ontario's job creation initiatives came under attack from the provincial Conservatives Friday as Windsor lost its title as the unemployment capital of Canada for the first time in 15 months.
"The jobs market is treading water right now," said PC economic development critic Monte McNaughton.
"The province only gained enough jobs last month to keep up with the growth in the labour force, which is why the provincial unemployment rate barely budged from eight per cent (in August)," said McNaughton, who added that Ontario has lost 30,000 jobs in the past 12 months.
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Hamilton's unemployment rate dropped in September
Hamilton's unemployment numbers have improved for the second straight month.
Statistics Canada released numbers for September Friday morning. Hamilton is now showing a 6.8 per cent unemployment rate. That's a half-a-percentage point drop from August .
Canada's economy added 52,000 jobs in September, but the national unemployment rate ticked higher to 7.4 per cent because more people were looking for work. The gain was more than the roughly 10,000 new jobs that economists polled by Bloomberg were expecting.
Statistics Canada said Friday that full-time work made up most of the gains, with a net 44,100 new positions added.
Read the full article here.
Hamilton's unemployment numbers have improved for the second straight month.
Statistics Canada released numbers for September Friday morning. Hamilton is now showing a 6.8 per cent unemployment rate. That's a half-a-percentage point drop from August .
Canada's economy added 52,000 jobs in September, but the national unemployment rate ticked higher to 7.4 per cent because more people were looking for work. The gain was more than the roughly 10,000 new jobs that economists polled by Bloomberg were expecting.
Statistics Canada said Friday that full-time work made up most of the gains, with a net 44,100 new positions added.
Read the full article here.
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Oshawa's job losses mount, while thumbs twiddle
One of the more distressing trends is Oshawa`s unemployment rate.
Month after month it continues to climb higher and higher, nestling in at nine per cent in October. Even as General Motors and the CAW negotiated a new deal, even as an ethanol plant is supposed to bring in 300 temporary and 50 full-time jobs, even as the Hwy. 407 worms towards the city, even as UOIT and Durham College are back in full swing, the local jobless numbers continue to grow.
Only Saint John and Windsor, and possibly Barrie at 8.9 per cent unemployment, are in the same boat as Oshawa.
Read the full article here.
One of the more distressing trends is Oshawa`s unemployment rate.
Month after month it continues to climb higher and higher, nestling in at nine per cent in October. Even as General Motors and the CAW negotiated a new deal, even as an ethanol plant is supposed to bring in 300 temporary and 50 full-time jobs, even as the Hwy. 407 worms towards the city, even as UOIT and Durham College are back in full swing, the local jobless numbers continue to grow.
Only Saint John and Windsor, and possibly Barrie at 8.9 per cent unemployment, are in the same boat as Oshawa.
Read the full article here.
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September housing starts in the Kitchener CMA
TORONTO - Housing starts in the Kitchener-Cambridge-Waterloo Census Metropolitan Area (CMA) were trending at 2,280 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of housing starts. The standalone monthly SAAR was 4,500 units in September, up from 1,070 in August.
"Townhouse and apartment construction continue to be the story this year. Price conscious consumers are buying these more affordable homes. Rental apartment construction has added to the numbers. Just under half of apartment construction this year has been rental. Immigrants, students, and downsizing baby boomers have supported demand for townhouses and apartments, said Erica McLerie, CMHC's Senior Market Analyst for Kitchener-Cambridge-Waterloo.
Read the full article here.
TORONTO - Housing starts in the Kitchener-Cambridge-Waterloo Census Metropolitan Area (CMA) were trending at 2,280 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of housing starts. The standalone monthly SAAR was 4,500 units in September, up from 1,070 in August.
"Townhouse and apartment construction continue to be the story this year. Price conscious consumers are buying these more affordable homes. Rental apartment construction has added to the numbers. Just under half of apartment construction this year has been rental. Immigrants, students, and downsizing baby boomers have supported demand for townhouses and apartments, said Erica McLerie, CMHC's Senior Market Analyst for Kitchener-Cambridge-Waterloo.
Read the full article here.
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September 2012 housing starts in Ottawa
OTTAWA, ONTARIO--(Marketwire - Oct. 9, 2012) - Housing starts in Ottawa, Census Metropolitan Area (CMA) were trending at 7,605 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts. The standalone monthly SAAR was 6,234 units in September up from 4,290 in August.
"The first three quarters of the year showed a definite trend increase favouring multi-family starts, which have risen by 44 per cent from the previous year. Although low mortgage rates and full-time employment gains keep supporting demand, housing prices direct consumers towards more affordable dwellings," Sandra PÃrez Torres, Senior Market Analyst for Eastern and Northern Ontario.
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets, which can be quite variable from one month to the next. The multiples segment includes apartments, rows and semi-detached homes.
Read the full article here.
OTTAWA, ONTARIO--(Marketwire - Oct. 9, 2012) - Housing starts in Ottawa, Census Metropolitan Area (CMA) were trending at 7,605 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts. The standalone monthly SAAR was 6,234 units in September up from 4,290 in August.
"The first three quarters of the year showed a definite trend increase favouring multi-family starts, which have risen by 44 per cent from the previous year. Although low mortgage rates and full-time employment gains keep supporting demand, housing prices direct consumers towards more affordable dwellings," Sandra PÃrez Torres, Senior Market Analyst for Eastern and Northern Ontario.
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets, which can be quite variable from one month to the next. The multiples segment includes apartments, rows and semi-detached homes.
Read the full article here.
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September 2012 housing starts in Hamilton
TORONTO, ONTARIO--(Marketwire - Oct. 9, 2012) - Housing starts in Hamilton, Census Metropolitan Area (CMA) were trending at 3,136 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts. The standalone monthly SAAR was 2,744 units in September, up from 2,298 units in August.
"After nine months, both singles and multiple starts have risen from the previous year. Low mortgage rates, positive migration flows and fewer listings on the existing home market have supported residential construction activity in 2012," said Abdul Kargbo, CMHC's Senior Market Analyst for Hamilton and Brantford CMAs.
Read the full article here.
TORONTO, ONTARIO--(Marketwire - Oct. 9, 2012) - Housing starts in Hamilton, Census Metropolitan Area (CMA) were trending at 3,136 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts. The standalone monthly SAAR was 2,744 units in September, up from 2,298 units in August.
"After nine months, both singles and multiple starts have risen from the previous year. Low mortgage rates, positive migration flows and fewer listings on the existing home market have supported residential construction activity in 2012," said Abdul Kargbo, CMHC's Senior Market Analyst for Hamilton and Brantford CMAs.
Read the full article here.
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September 2012 housing starts in Barrie
TORONTO, ONTARIO--(Marketwire - Oct. 9, 2012) - Housing starts in Barrie, Census Metropolitan Area (CMA) were trending at 965 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts. The standalone monthly SAAR was 462 units in September, down from 727 in August.
"Even though monthly starts are volatile over the course of the year, due to the introduction occasionally of multi-unit projects for apartments and rows, the trend measure shows that overall demand has been relatively steady in 2012," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.
Read the full article here.
TORONTO, ONTARIO--(Marketwire - Oct. 9, 2012) - Housing starts in Barrie, Census Metropolitan Area (CMA) were trending at 965 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts. The standalone monthly SAAR was 462 units in September, down from 727 in August.
"Even though monthly starts are volatile over the course of the year, due to the introduction occasionally of multi-unit projects for apartments and rows, the trend measure shows that overall demand has been relatively steady in 2012," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.
Read the full article here.
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September 2012 Ontario housing starts
TORONTO, ONTARIO`(Marketwire ` Oct. 9, 2012) - Housing starts in Ontario were trending at 80,600 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts. The standalone monthly SAAR was 70,486 units in September, down from 86,189 units in August.
`As was widely expected, Ontario home construction, led by the apartment sector, moved lower closer to levels consistent with demographic demand. While home construction will remain elevated over the next several months, starts should moderate further. Modest job growth versus the recent past, better supplied resale markets combined with a high level of units under construction are headwinds for the residential construction industry,` said Ted Tsiakopoulos, CMHC`s Ontario Regional Economist.
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.
Read the full article here.
TORONTO, ONTARIO`(Marketwire ` Oct. 9, 2012) - Housing starts in Ontario were trending at 80,600 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts. The standalone monthly SAAR was 70,486 units in September, down from 86,189 units in August.
`As was widely expected, Ontario home construction, led by the apartment sector, moved lower closer to levels consistent with demographic demand. While home construction will remain elevated over the next several months, starts should moderate further. Modest job growth versus the recent past, better supplied resale markets combined with a high level of units under construction are headwinds for the residential construction industry,` said Ted Tsiakopoulos, CMHC`s Ontario Regional Economist.
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.
Read the full article here.
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September 2012 housing starts in Brantford
TORONTO, ONTARIO`(Marketwire ` Oct. 9, 2012) - Housing starts in Brantford, Census Metropolitan Area (CMA) were trending at 407 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) [sup]1[/sup] of housing starts. The standalone monthly SAAR was 355 units in September, down from 380 units in August.
`The apartment segment was completely responsible for the decrease in total housing starts this September. Residential construction activity was particularly strong in the first half of 2012, therefore this month`s decline can be seen as a return to historical levels,` said Abdul Kargbo, CMHC`s Senior Market Analyst for the Hamilton and Brantford CMAs.
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next. The multiples segment includes apartments, rows and semi-detached homes.
Read the full article here.
TORONTO, ONTARIO`(Marketwire ` Oct. 9, 2012) - Housing starts in Brantford, Census Metropolitan Area (CMA) were trending at 407 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) [sup]1[/sup] of housing starts. The standalone monthly SAAR was 355 units in September, down from 380 units in August.
`The apartment segment was completely responsible for the decrease in total housing starts this September. Residential construction activity was particularly strong in the first half of 2012, therefore this month`s decline can be seen as a return to historical levels,` said Abdul Kargbo, CMHC`s Senior Market Analyst for the Hamilton and Brantford CMAs.
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next. The multiples segment includes apartments, rows and semi-detached homes.
Read the full article here.
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Ontario wants bigger slice of oilsands pie
EDMONTON - Despite the tepid global economy, oilsands activity continues to ramp up, generating jobs and wealth across Alberta and beyond.
The importance of the oilsands as a key driver of national economic growth seems to be lost on B.C. Premier Christy Clark, who has attacked Enbridge`s Northern Gateway project to score political points at home, in a bid to win re-election.
Read the full article here.
EDMONTON - Despite the tepid global economy, oilsands activity continues to ramp up, generating jobs and wealth across Alberta and beyond.
The importance of the oilsands as a key driver of national economic growth seems to be lost on B.C. Premier Christy Clark, who has attacked Enbridge`s Northern Gateway project to score political points at home, in a bid to win re-election.
Read the full article here.
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GM Canada to add shift to meet Chevrolet Impala demand
Reuters) - General Motors of Canada (GM.N: Quote) said on Friday it will add a third shift to the flexible manufacturing line at its assembly plant in Oshawa, Ontario, so that it can meet demand for its Chevrolet Impala sedan.
The shift addition is in line with a contract agreement the company reached last month with the Canadian Auto Workers (CAW) union.
If there is enough demand, GM said it will also extend the life of one shift on the "consolidated" line at the Oshawa plant for a year until June 2014. GM had planned to shut down the three-shift consolidated line in June 2013.
Read the full article here.
Reuters) - General Motors of Canada (GM.N: Quote) said on Friday it will add a third shift to the flexible manufacturing line at its assembly plant in Oshawa, Ontario, so that it can meet demand for its Chevrolet Impala sedan.
The shift addition is in line with a contract agreement the company reached last month with the Canadian Auto Workers (CAW) union.
If there is enough demand, GM said it will also extend the life of one shift on the "consolidated" line at the Oshawa plant for a year until June 2014. GM had planned to shut down the three-shift consolidated line in June 2013.
Read the full article here.
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Under construction in the GTA
Have you been on Yonge St. lately? Pick a spot nearly anywhere in the GTA along the country`s longest street and you`ll see that change is underway. I know that change can be hard, but the results can be good.
In my last installment of this city-building columns series, I wrote about recognizing the development potential of your neighbourhood and the opportunity to get involved in the planning process. This series was intended to give a sense of how our industry mobilizes when a transit plan is given a green light, explaining the process, decoding the language and providing visual cues, so that you can understand how and why your neighbourhood is growing.
Read the full article here.
Have you been on Yonge St. lately? Pick a spot nearly anywhere in the GTA along the country`s longest street and you`ll see that change is underway. I know that change can be hard, but the results can be good.
In my last installment of this city-building columns series, I wrote about recognizing the development potential of your neighbourhood and the opportunity to get involved in the planning process. This series was intended to give a sense of how our industry mobilizes when a transit plan is given a green light, explaining the process, decoding the language and providing visual cues, so that you can understand how and why your neighbourhood is growing.
Read the full article here.
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Developers are quietly putting condo projects 'on the shelf'
With condo sales having cooled in the second half of 2012, wary Toronto developers are putting off their projects until next spring.
`Earlier in the year we were talking about perhaps 40 or 45 launches this fall ` I`m hard pressed to find four projects that will launch this fall,` Alan Vihant, Great Gulf Homes` vice president of highrise development told a recent BILD forum.
There were 24,301 new home sales in the first eight months of 2012, down from 30,412 for the same period a year earlier, according to figures from RealNet Canada. And 13,591 highrise condos have been sold since the beginning of the year, compared with 18,055 by this point in 2011.
Read the full article here.
With condo sales having cooled in the second half of 2012, wary Toronto developers are putting off their projects until next spring.
`Earlier in the year we were talking about perhaps 40 or 45 launches this fall ` I`m hard pressed to find four projects that will launch this fall,` Alan Vihant, Great Gulf Homes` vice president of highrise development told a recent BILD forum.
There were 24,301 new home sales in the first eight months of 2012, down from 30,412 for the same period a year earlier, according to figures from RealNet Canada. And 13,591 highrise condos have been sold since the beginning of the year, compared with 18,055 by this point in 2011.
Read the full article here.
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Kingston neighbourhood a good investment
KINGSTON - A neighbourhood bordering Queen's University has been named one of the top 100 neighbourhoods in Canada based on its investment potential.
Canadian Real Estate Wealth Magazine, a magazine targeting real estate investors across Canada, identified the locations based on a number of factors, including population, median home prices, capital growth over a 12-month period, vacancy rate, crime severity index, infrastructure and proximity to employment centres.
In Kingston, the neighbourhood northwest of the campus proved lucrative to investors, according to the magazine.
The research was supported by realty company ReMax, as well as Verico Financial Services.
Read the full article here.
KINGSTON - A neighbourhood bordering Queen's University has been named one of the top 100 neighbourhoods in Canada based on its investment potential.
Canadian Real Estate Wealth Magazine, a magazine targeting real estate investors across Canada, identified the locations based on a number of factors, including population, median home prices, capital growth over a 12-month period, vacancy rate, crime severity index, infrastructure and proximity to employment centres.
In Kingston, the neighbourhood northwest of the campus proved lucrative to investors, according to the magazine.
The research was supported by realty company ReMax, as well as Verico Financial Services.
Read the full article here.