Real Estate: Real Estate Markets in Ontario Continue Upward Trend
The high Canadian dollar is having little affect on Ontario's manufacturing sector and overall housing market according to a report by RE/MAX Ontario-Atlantic Canada.
Demand continues to remain high for real estate across Ontario. Only Windsor did not report an increase in real estate value. In the first five months of 2007, Timmins had the largest increase in demand for residential properties. Sudbury, Haliburton and Collingwood also posted double digit growth.
Executive Vice President and Regional Director of RE/MAX Ontario-Atlantic Canada, Michael Polzler said, "While an overall healthy economy has supported home-buying activity, consumer confidence in the future of housing has taken markets to the next level. Given current momentum, we expect demand for housing to continue throughout the traditionally slower summer months and shatter existing records for sales and/or price in many markets by year-end."
Between 2001 and 2006 areas located within the Greater Golden Horseshoe reported population growth rates higher than the national average. These population centres inlcuding Guelph, Kitchner, Toronto, Oshawa, Barrie and Brantford.
"While the GTA's bidding wars tend to dominate headlines, multiple offers are also occurring in more than half of the markets surveyed in the RE/MAX Report," says Polzler. "Limited inventory levels, particularly in hot pocket neighbourhoods, are seriously contributing to the increase in this phenomenon."