9 Ontario Hotspots To Invest in Real Estate This Year

Find Your Ideal Location to Invest in Real Estate Property

9 Ontario Hotspots To Invest in Real Estate This Year | Storey Collective

Buying property is one of the best ways you can protect your wealth. Thanks to Ontario’s ongoing growth and Canada’s low-interest rates, Ontario is one of the best locations to aim for. But selecting a city in Ontario to invest in real estate property can be overwhelming. 

Luckily, here at Storey Collective, we’re well-versed in the advantages that each city offers. In this blog post, we’ll share our top nine places to invest in real estate to help you find the best area for you. 

1) Hamilton

Hamilton is an industrial port city at the west end of Lake Ontario, offering a key opportunity for those who are looking to invest in real estate. The census metropolitan area is a key business hub that has seen immense revitalization over the last few years, and many families are relocating to the area as a result. 

Hamilton’s rentals are in high demand, to the extent that prospective tenants have been known to offer a whole year’s rent upfront to secure a property. Meanwhile, Hamilton has approved the construction of laneway houses in many areas to meet growing demand. Laneway housing is a fantastic way to develop your investments by building on land you already own—perfect for homeowners who are looking to expand their rentable units.

Hamilton’s average sale price in January was $722,628.

2) Kitchener-Waterloo

As one of Canada’s fastest-growing regions, Kitchener-Waterloo’s population and employment opportunities have risen exponentially over recent years. Plus, Kitchener-Waterloo sits on the far side of the Greenbelt, so there’s plenty of flexibility for housing development. 

Nestled in the regional municipality of Waterloo, 100 km west of Toronto, Kitchener is the fourth-largest census metropolitan area in Ontario. Business booms here thanks to the rapidly growing healthcare and tech industries, teamed with top-rated universities and the Kitchener GO expansion. 

Meanwhile, business-focused Waterloo is widely recognized as a university city. The locale is famous for its flourishing technology and insurance sectors. Waterloo is also home to five expansive parks featuring sporting facilities, historical architecture, animal displays, hardwood forest, meadows, and wetlands—a scenic location for real estate investment. 

Keep in mind that those buying property in Waterloo need a rental license. Applying for a license is simple, but you will need to submit HVAC and electrical inspections, as well as a hand-drawn floor plan, criminal check, yearly renewals, and payment. 

Kitchener-Waterloo’s average sale price in January was $695,582.

3) London

London is based in the Quebec City-Windsor Corridor at the confluence of the Thames River. The city sits within easy reach of Toronto, Detroit, and Buffalo, enjoying a cosmopolitan population of over 384,000. London is prominent on the medical scene and is home to hospitals among the city’s top ten employers.

As a city with one of the lowest vacancy rates in Canada, London is ripe for rental opportunities. This decade will see new properties, schools, roads, and water systems support the city’s growing population. With around 200 infrastructure projects underway, London is ready for rapid expansion. 

Meanwhile, London’s Western University and Fanshawe College are actively recruiting international students. As Canada prepares for its pandemic recovery, many new students are more than ready to move to the city. We should also keep in mind that many of these students will likely apply for permanent residency when they have finished their studies.

It’s hardly surprising that London is booming. The demand for rentals is skyrocketing, and investors are making their moves to capitalize on this demand.

London’s average sale price in January was $607,431.

4) St. Catharines

St. Catharines has remained one of the best places to invest in real estate in Ontario for many years. As always, many investors receive a wealth of competitive offers from prospective tenants when they buy properties here. New listings often flood with interest the moment they appear on the market.

As the biggest city in the Niagara Region, St. Catharines’ transport links have improved over recent years. This has made traveling around and out of the city much easier. But St. Catharines has actually become increasingly popular with tenants now that more people can work remotely. With less need to live near Toronto and other employment hubs, many are making the most of St. Catharines’ scenic backdrop. Locals enjoy living on the brink of Niagara Falls amid the Niagara Wine and Fruit District. 

St. Catharines’s average sale price in January was $529,200.

5) Welland

Nestled in the centre of the Niagara Region, Welland is conveniently placed within a half-hour drive of Niagara Falls, Niagara on the Lake, St. Catharines, and Port Colborne. Welland continues to perform well above residential growth expectations and will likely expand its population yet further over upcoming years, especially with its current expansion and development plans in place.

Welland is one of the few Canadian cities that has approved adding Accessory Dwelling Units (ADUs) to residential properties. Homeowners may develop their homes with secondary suites and detached dwelling units, potentially creating three units in one. Renting out a suite in your existing property can be a particularly effective way to enjoy an additional stream of income without having to manage multiple properties. And you can’t do this in many parts of Canada.

Welland’s average sale price in January was $450,800.

6) Peterborough

Based on the north side of the Greenbelt, Peterborough enjoys a quiet spot away from the rest of the Golden Horseshoe and has much room for expansion. While its somewhat isolated location may once have put prospective tenants off, the new stretch of Highway 407 has made travel much easier for those travelling into North-East Toronto.

As a result, Peterborough has flourished over recent years, fast-becoming one of Ontario’s most urban centres. New subdivisions constantly pop up—and fill immediately. The city currently houses 82,847 residents, many of whom either attend Trent University and Fleming College or work for Peterborough’s impressive melting pot of local and global businesses. 

Peterborough’s average sale price in December was $595,670. 

7) Barrie

Barrie’s tranquil landscapes have attracted more than 141,000 residents to homes surrounding Lake Simcoe. As more people take advantage of the city’s recent GO Transit connections to commute and visit Toronto, living in the Gateway to Cottage Country has become not only a viable but a luxurious choice location-wise.

Like Welland, Barrie is one of the few cities that allows homeowners to add Accessory Dwelling Units to their residential properties. This means Barrie homeowners can develop a single-unit home by adding a secondary suite in the basement and/or a detached ADU in the yard to rent out.

Barrie is already experiencing noteworthy growth. This is only likely to continue, especially thanks to the idyllic city’s growth and intensification plan.

Barrie’s average sale price in December was $662,096. 

8) Brantford

Much-admired for its large yards and family-oriented neighbourhoods, Brantford is yet another city that is experiencing major growth. Not only are the spacious homes perfect for families, but many entrepreneurs set up here, too. Based just southwest of Hamilton, Brantford’s flurry of family-run businesses and international companies fuel the city’s growing economy and reputation as one of Canada’s most business-friendly cities. 

Brantford also has a major development plan in place, which will support the growing population over the next two decades. For starters, in 2017, the city expanded its boundaries to accommodate an additional 1,830 net metres of land for industrial development. This development should support the city’s ever-expanding population and employment needs over the next 15 years.

9) Toronto (GTA)

While the condo market in downtown Toronto has suffered at the hands of coronavirus, Canada’s central hub will find its way back to economic success. Now isn’t the time to rule Toronto out for real estate investments. The demand for homes in Toronto isn’t going anywhere, especially with the government’s new Immigration Levels Plan in place. 

Also, like Hamilton, Toronto now allows the addition of laneway suites, which can kickstart fantastic opportunities for Toronto investors. The city is also reviewing the possibility of allowing the addition of Garden Suites to properties. This would allow homeowners to make the most of their unused yard space and add value to their properties. As we look ahead, Toronto should soon take up its position as a haven of opportunity for investors once again.

In January, the average sale price in Toronto was $866,331 in the city and $967,885 in the GTA. 

Choosing a Location To Invest in Real Estate 

We advise that you consult a real estate expert when narrowing down your locations to invest in real estate. A qualified realtor can make predictions on real estate trends that will allow you to gain long-term financial benefits on your property investment.

Like the sound of our top nine real estate investment locations? Get in touch with Storey Collective for more information.