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Several forthcoming reports on the best cities for property investment in Ontario (SpendTree, Moneysense)\u00a0suggest that looking outside the biggest housing markets\u00a0will yield the most robust returns. Here’s our top 4 housing markets which are sure to surprise you.<\/p>\n
Thunder Bay. Yes, really.\u00a0<\/strong><\/p>\n In the last five years, real estate prices in this Northern Ontario\u00a0city\u00a0<\/span>have appreciated at a rate of 8.4% — faster than in any other city in Canada. While most families would not consider moving there, investors should definitely have their interests peaked by the 22.4% 5-year rent increases here as well. With average home prices of $215,000 in T-Bay, this tops our list and makes it a remarkable rental property investment opportunity.<\/p>\n Hamilton<\/strong><\/p>\n Anyone that’s been paying attention has noticed that Hamilton, formerly known as ‘Steel Town’ (or as I lovingly call it, ‘Hammer Town’), is gentrifying and becoming a new destination for those looking for employment and housing outside of the ultra-competitive Toronto market.\u00a0At $443,000, Hamilton\u2019s average home price is\u00a0higher than one might expect, but the city also has the highest compound annual rate of return for 5-year period\u00a0at 7.3%. An even more telling fact is that there has been an 18.1% rent increase in the last five years, in part because of high average household incomes (about $85,000), along with low unemployment rates (4.5%), which is significantly lower than the current national average of 7.2%.<\/p>\n Windsor<\/strong><\/p>\n Windsor has some of the cheapest housing in the country, which can be seen as a good trait for the entry level investor. The U.S. border city is experiencing some good trends, such as the unemployment rate decreasing below 8% and the rental vacancies being at about the 4% mark. In 2015 the\u00a0Windsor Star\u00a0<\/em>reported that purchasing and renting out an investment property in Windsor, Ontario would return 27% in a 5-years after it sells. This is taking into account the rental income + the property appreciation. Compare that scenario to just a 12% return in the Vancouver market, or 22% in the Toronto market, and there’s a clear message here.\u00a0Average home prices are just less than $200,000, with 5-year rent increases reaching just over 10%.<\/p>\n Guelph\u00a0<\/strong><\/p>\n Another established University town, Guelph was ranked 4th on\u00a0Money Sense<\/em> top investment opportunity cities in Canada. Keeping in trend with others on the list, the average 5-year rent increase is high at 14.1%, with 5-year appreciation value at 5.1%. An astonishing figure is that rental vacancies are hovering around 1%, making it deal for a rental property targeted towards students or professionals. Average home prices fall in between Hamilton and Windsor at $378,573.<\/p>\n Matrix Mortgage Global provides expert advice and flexible financing for investment properties. Call us today at 1-800-429-0717 or Contact Us through our chat support.\u00a0<\/strong><\/p>\n <\/p>\n <\/p>\n![\"thunderbay\"](\"https:\/\/www.matrixmortgageglobal.ca\/wp-content\/uploads\/2016\/09\/thunderbay.jpg\")
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