Local market expected to do well over the next several years
DurhamRegion.com
Local real estate markets are expected to outperform other Ontario areas for the next three to five years, according to a report.
Out of hundreds of Ontario cities and towns, Whitby, Ajax, and Pickering tied at the top-seven spot for real estate investment cities in a recently released report by The Real Estate Investment Network.
The report, titled Top Ontario Investment Towns 2011-2015, looks at the current and future prospects for real estate investment and identifies the areas expected to outperform. At No. 1 is Hamilton.
“When reviewing the Durham Region’s economic fundamentals, we saw an area going through a positive transition, shown by the increase in the number and quality of employers, the in-migration of a younger population and the planned expansion of post-secondary institutions,” said Don Campbell, president of The Real Estate Investment Network, in the report.
“A forward-thinking economic development team has already attracted many businesses to the area. The Region is poised to become one of the key economic drivers in the coming decade, although improvements in the transportation network must occur before it reaches its full potential.”
Factors the report considers include if the area’s growing faster than the provincial average; if new infrastructures are being built to handle the growth; is the area creating new jobs and taking steps to maintain current employment levels; will Durham benefit from an economic or real estate ripple effect; has political leadership created an economic growth atmosphere; and are major transportation improvements in the works.
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