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Located just 128 km from Toronto, Woodstock is known as “the Friendly City,” offering small-town charm and exciting growth and development opportunities. From the city’s rich history to its thriving and diverse economy, there are a lot of reasons for investors to think about adding Woodstock real estate to their portfolios. Keep reading to learn more about the benefits of investing in Woodstock for new and seasoned investors alike.
If you would like to learn more about investing in Woodstock real estate click the link below to book your free strategy call with our team at LendCity and then continue on with the article.
Woodstock has a rich history
Woodstock was first established as a town by European settlers in 1800 and the population grew rapidly as new industries were established. By the mid-1800s, Woodstock had several churches, court and government offices, a bank agency, a school and two newspaper publishers. Woodstock’s industry featured several wagon makers, two grist mills, a sawmill, a fulling mill, a distillery and a brewery.
There are many historic buildings in Woodstock that are still standing today. The Town Hall, built-in 1853, now holds the Woodstock Museum. Other historic buildings in Woodstock include the Market Building, built-in 1854, the Oxford Hotel, built-in 1880 and the Oxford County Courthouse, built-in 1892. All these historic buildings draw residents and tourists alike and provide a unique window into the history of Woodstock.
Today, Woodstock is home to a population of 40,902 people and various industries, cultural attractions, sightseeing opportunities and recreational areas.
Woodstock real estate is centrally located
One of the main things that attract investors to Woodstock is the city’s central location. Woodstock is situated in the center of Southwestern Ontario, less than two hours’ driving distance from downtown Toronto. Woodstock is located in close proximity to highways 401 and 403 providing residents and business owners with easy access to transportation routes to major cities throughout North America. Woodstock offers thriving agriculture, robust manufacturing, countless recreational opportunities and quality housing and retail opportunities for residents.
The perfect place to work and play
One of the things that attract residents and visitors to Woodstock is the city’s thriving downtown sector. In downtown Woodstock, visitors can admire historic buildings, shop at boutique retail stores, dine and drink at chic bars and restaurants and enjoy the beautifully maintained scenery lining the streets and sidewalks. There are also over 350 hectares of parks and trails in Woodstock, providing endless recreational opportunities for people of all ages.
The city of Woodstock hosts a variety of fun events throughout the year, including Canada Day, Woodstock Day and Victoria Day. One of the most notable annual celebrations in Woodstock is Cowapalooza—an event that pays tribute to the city’s roots in agriculture with concerts, events, activities and markets.
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Economic development and incentives
The city of Woodstock offers a variety of opportunities for investors to add to their portfolios. There are a variety of sites available for agriculture, industrial facilities, commercial buildings and residential use, depending on the needs and preferences of the investor. There are great options in Woodstock for investors who want an investment property that’s ready to be rented as well as for investors who want to invest in a new building or development project.
Woodstock is a rapidly-growing city that has taken a strategic approach to encourage investment and cultivate strong economic development. In 2019, Woodstock approved $233 million worth of permits for projects ranging from industrial facilities to residential construction. There are 26 colleges and universities within a two-hour radius of Woodstock and two million people are living within an hour of the city. With an annual growth rate of 1.66 percent, investors who come to Woodstock know that they are likely to be a part of something big in the near future.
Woodstock offers a variety of great incentives to developers, investors and entrepreneurs who choose to invest in the city. The City of Woodstock’s Economic Development Department is tasked with ensuring that developers and investors have access to the best incentives possible to make their projects profitable while minimizing regulatory hiccups and hurdles. Some of the services that the Economic Development Department provides include land and building site selection information, statistical and market data, promotional programs, free assistance to companies, market identification and product sourcing, start-up support, government liaison services and consultation and networking opportunities.
The Woodstock Real Estate Market
The residential market in Woodstock is booming, despite the challenges caused by the COVID-19 pandemic. The average sold price for homes in Woodstock in 2020 was $450,000—nearly a 14 percent yearly increase from 2019. At the time of writing this, that price has risen to $633,000 Detached homes, condos and townhouses are all popular housing options in Woodstock. On average, homes in Woodstock stay on the market for just 13 days.
Even more impressively, the selling to listing price ratio in Woodstock is 102 percent on average. Based on market trends, investors who buy in Woodstock can expect their investment to grow steadily in the coming years as the city grows, and more and more people flock to expanding employment opportunities.
In addition to great residential real estate offerings, there are also a variety of industrial, commercial and agricultural lots that are ready for development. Developers who build in Woodstock can benefit from the city’s hands-on Building Department, which is equipped with the knowledge and skills necessary to assist investors with everything from the permitting process to site plan arrangements. Working with the Building Department makes it much easier for developers to navigate the building process and make sure that they are completely compliant with all relevant municipal zoning regulations and permitting requirements.
Get started with an investment in Woodstock Real Estate
There are a lot of reasons why so many investors have decided to get involved in Woodstock real estate. With a wealth of opportunities for commercial, residential and industrial real estate, Woodstock provides investors with an ideal place to expand their portfolios and achieve great ROIs in a growing market. Check out the open listings today and find out more about what Woodstock has to offer.
Woodstock Real Estate Professionals
We have searched high and low for real estate investing professionals in Woodstock. Below, you can find professionals we have researched and can confirm they specialize in working with Real Estate Investors.
To ensure the maximum success investing in Woodstock real estate, 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 Woodstock real estate professional and would like us to consider adding you to the list, please contact us.
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If you would like to learn more about financing and investing in Woodstock real estate, click the link below to book your free strategy call with our team here at LendCity.