July 2014 a month to remember for Real Estate in Hamilton. Another exceptional Hot Seller Market month.Comparing with July 2013, more houses on the market (12.5%), more houses sold (20.1%), more money for sellers (7.9% in average). Mainly, more affordability.
The low interest rate of the banks and other lenders helps a lot but I think the main engines of the increase in affordability are a thorough economic development of Hamilton area (more income stability), an infusion with newcomers in our region, a lower affordability in the GTA, the increasing price of renting a decent place to live.
After speaking with several young couples from Hamilton, I would add the desire to take some risks and saving some money for their own future. And they are right. Buying a house doesn't mean only having a mortgage. Means also developing a sentiment of property and responsability, means to be proud of another success in your life, to bring a thorough contribution to the stability of your family, to enjoy when you see your investment growing.
Anywhere you go, you are eager to come home.
And more important, home is the place to gather together.
Without doubt, "the brick" will ever be one of the most stable investments.