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You don’t have to be a veteran real estate investor to understand that the Canadian market is exploding almost beyond comprehension. The time has never been better to invest capital in the thriving real estate market. Real estate markets throughout the country report continuous rises quarter after quarter. The only question that remains is where should you look to invest your capital.
Investors searching for the right opportunity in the vast Golden Horseshoe region should consider setting their sights on Oshawa real estate. This growing town sits on the eastern border of the Greater Toronto Area, right on the shores of gorgeous Lake Ontario. Oshawa boasts a population of 170,000 (and counting) plus close ties to several established business markets. A growing population, luscious natural surroundings and plenty of job prospects make Oshawa an ideal place to settle down. That makes it the perfect spot for the real estate investor hunting for a vibrant market with long-term possibilities for profit.
If you want to create some income in real estate, Oshawa real estate is the place to start.
But first, if you want to discuss financing options for Oshawa real estate investments, click the link below for a free strategy call with our team at LendCity.
Oshawa Real Estate’s little lost momentum
When the novel coronavirus went worldwide, investors in the Canadian real estate market prepared for a severe drop in the profitability of the nation’s real estate market. In April and May, that slump played out as Canadians sheltered in place in their homes. After two months at home, several thousand Canadians were less than impressed by their surroundings. Many determined that the time had come to hunt up their next home.
In August, the market saw incredible activity as the residential sales numbers jumped to 44.8 percent over the previous year. That ravenous desire for new homes in the Oshawa area is quickly eating up the available supply of listed homes. As the number of available homes drops, the prices are expected to rise accordingly. That’s good news for those people who can get in on the residential real estate early.
Oshawa Real Estate has recession-proof rent
The novel coronavirus’s impact may not be felt as harshly in Canada as in other countries, but that doesn’t mean COVID-19 left the country unscathed. Even as vaccines are rushed to the Canadian people in the hopes of getting the nation back to normal, economic hurdles still linger.
The drop in the average Canadian’s economic prosperity is reflected in a corresponding drop in Canadian rent prices. The once-hot Toronto market watched at rent prices dropped a staggering 17 percent between October 2019 and October 2020. Compared to those plummeting rent prices, Oshawa has been stable. Rents there dropped less than 1 percent, a mere fraction of the damage done to Toronto’s landlords.
This isn’t a fluke, either. Oshawa’s rental market continues to soar, outpacing both Toronto and the other neighbourhoods that make up the GTA.
Oshawa Real Estate has the tech to compete
When scouring the nation for the perfect real estate investment opportunity, it’s essential to look at the industries already present within the municipality and understand their connection to the real estate market. The perceived long-term viability of those industries goes hand-in-hand with the profit potential for real estate investment.
Let’s look at Oshawa as an example and the connection between the city’s thriving tech sector and its real estate market. In terms of the country’s most promising industries, tech is right at the top of the list. That is, Canada’s tech sector expands annually and promises to do so for at least the next decade.
Therefore, any city with a strong tech sector can expect moderate-to-rapid growth in the real estate market. At the moment, Oshawa stands as the only city in the GTA besides Toronto to rank in the Top 20 Tech Talent Pools in Canada. The city combines a technological focus at nearby universities with ever-growing job opportunities in the tech field.
That means new businesses cropping up and new employees flocking to tech centers for their piece of the pie. And every one of them is going to need a place to put out their shingle.
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The suburban shift in Oshawa Real Estate
Residential real estate investors hoping to try their hand at a fix-and-flip should find themselves enticed by the Oshawa market. As the rising cost of homes starts to taper off in urban Toronto’s housing market, the house prices in surrounding suburban cities rise correspondingly.
Real estate experts suggest this shift is one more result of the novel coronavirus. Crowded cities become less appealing when the fear of contagion is prevalent. So, as more and more people determine that the suburbs are safer than the city center, that’s where they set their sights. As the market becomes more active, the housing prices rise accordingly. In Oshawa, housing prices rose in the double digits during 2020.
Luxury opportunities in Oshawa Real Estate
Real estate investors searching for the big paydays found in the luxury housing market will find a lot to love. Oshawa luxury homes buyers love the options on offer because big-budget homes priced north of $800,000 carry a lot of bang for their buck. For three-quarters of a million dollars in Oshawa, you can get a much larger home than the corresponding price would nab you in Toronto. The market numbers are a testament to that success, too.
- In 2019, 64 homes valued between $800,000 and $900,000 were sold. In 2020, that number rose to 252 homes sold.
- Eighteen houses valued between $900,000 and a million were sold in 2019. In 2020, that number rose to 96 home sales.
- 2019 saw 28 homes valued at more than a million sold in Oshawa. That number nearly doubled in 2020 with 51 homes sold.
Experts suggest this trend isn’t a brief bump. The home prices in Oshawa will likely continue to rise for the first half of 2021. Those higher costs will become the market average. In short, now is the time to get into the luxury housing game in Oshawa.
Oshawa Real Estate Professionals
We have searched high and low for real estate investing professionals in Oshawa. Below, you can find professionals we have researched and can confirm they specialize in working with Real Estate Investors.
To ensure the maximum success in real estate investing in Oshawa, or any city, you should always use professionals who understand and work with investors, your income depends on it.
This list may not fully list all the professionals in the area, but the ones we have personally investigated and that we would refer our clients to.
If you’re a real estate professional and would like us to consider adding you to the list, please contact us.
You can also click the link below for a free strategy call with our team at LendCity to discuss financing options today.