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Are you a home buyer wanting to lay your roots in Canada? Want to take a step towards your home-buying journey, but Toronto is way out of budget! Then don't you worry; we have handpicked cities for you with immense long-term potential. The Canadian Home app analysis shows that many cities have grown in sales and popularity over the last three years
Here is the list of our top 7 picks for you!
This hidden gem has shown a record growth of 300% in Q1 2023 compared to Q1 2021, with home sales totalling 1,718. Today, the real estate market is even better than it was during the pandemic. The good news is; the prices are still lesser than two years ago, making it our top pick for you. The average home price here is $643,780, down 15% when compared to Q1 2022 and down almost 1% when compared to Q1 2021. This is the real deal.
The growing economy and low cost of living make London attractive to all buyers. Here the average home price here is $605,000. If you are on a budget and looking to buy a house in a vibrant community with good employment opportunities, this will be the one for you. London has grown over 100% in property sales in the last two years.
This city has a lot to offer to everyone; located an hour's drive away from Toronto, Brantford has grown 103% in terms of sales when compared to 2021. The average home price of $660,00 makes it affordable for first-time home buyers. Brantford offers an excellent quality of living without a big city's heavy expenses, crowd and congestion.
Do you know Kitchener is one of the fastest-growing communities in Canada? A growing population and GDP make it the apple of the eye for all investors. The city has witnessed a growth of 28% in property sales in comparison to 2021. The average home price is $755,000, making it affordable compared to the GTA. Anybody looking to buy a second home should consider Kitchener, as it has a hot student rental market.
Say hello to this city with a strong economy, a good job market and an average home price of $762,000. The residential sales soared 26% in Q1 2023 compared to Q1 2021. Many people are turning to these smaller markets ditching the shining big cities. Anyone looking to buy an affordable house with some extra square feet on the same budget should consider this beautiful city.
We have St. Catherine coming in at number 6 with its scenic natural beauty and an economy that is growing stronger by the day. If we talk in numbers, then St. Catherine has increased by 14% in properties sold from Q1 2021 to Q1 2023, while the average selling price is now $623k, which is a decrease of 22% from Q1 2022. So, if you are someone who is looking to buy a home in a place with many cultural attractions and proximity to major economies like Toronto at an affordable price, then St. Catherine's is your calling.
Last but definitely not least, we have Niagara Falls. If you want to build your dream home in a thriving market with scenic surroundings and tourism perks for future gains, then this is the place for you. It is ideal for individuals and families looking for a comfortable and luxurious living experience. The sales have spiked by 8% in comparison to Q1 2023. Niagara Falls is gaining popularity among buyers who want to invest in rental homes and those looking to buy bigger homes within a decent price bracket.
The market is stabilising, and the above numbers are a clear indicator of the same. The prices are bound to increase in the coming months for the above cities. With the aggressive sales in these cities the prices are expected to go up exponentially. Now is the time to make a move and reap the rewards in future.
