Matt & Fadi in the Morning
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Taking Advantage Of City Housing Prices
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A window of opportunity is open for Ontario's rural communities looking to spur population growth, to take advantage of sky-high housing prices in the Greater Toronto Area.
Yes, Toronto's housing market is in a cool down this year.
The Toronto Real Estate Board reported average prices were down 12% in April year-over-year in the GTA.... to a still not affordable for most, $804-thousand dollars.
In our communities, what much of Ontario defines simply as "cottage country", prices continue to rise -- but they're still a far cry from the lunacy of the GTA.
In Bruce Grey Owen Sound the average home goes for $349,000, Simcoe and District about $360-thousand.... Huron and Perth counties around $372-thousand -- same for the Orillia area.
All, more than half the cost of the so-called American dream in the GTA.
New mortgage stress test rules aren't making it any easier for fringe or new buyers to enter the high priced markets near Toronto.
The natural progression is for the buyer to begin examining other markets to find value.
Just a couple hours drive from the high rises of downtown Toronto, our communities are in close enough proximity to reel-in migrants from the GTA, if we market ourselves effectively.
We have infrastructure, shopping, highways, and year-round services.
We have community, culture, sports and unmatched outdoor lifestyle opportunities.
We have jobs -- a shortage of workers even in many industries.
We have to let all of them know we're more than just cottage country.
Our housing is priced competitively for growth, and if it's something our communities want, we should capitalize before the window's closed.
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