In keeping with my previous post about maintaining a healthy perspective on market forecasts, I will try to follow my own advice summarizing my findings.
According to Canadian Real Estate Magazine (December/January 2015 Issue), Ontario is said to continue reaping the benefits of on-going housing sales and population growth. Ontario's steady source of immigration, it's existing large population, and it's stability over the years are all economic drivers for its positive forecast, and are the reasons people keep coming here. Steady population growth means the demands for housing remain high, keeping housing prices steady, and for growth to remain inevitable. The forecast also goes on to say as the U.S. economy continues it's upturn, Ontario will once again benefit from the U.S.- Canada trading partnership in part because of our proximity to busy border crossings. This forecast speaks largely to the cities of Toronto and Ottawa, but does broadly represent the Southern portion of Ontario.
How might these facts apply to our friendly city of Belleville? First and foremost, we are on a major route that connects Toronto to the U.S. border crossing at the Thousand Islands Bridge, meaning we have an excellent location for industry, which means lower unemployment and more people can afford to buy around here, which equates to housing prices remaining stable in the Quinte area. A statement in favour our friendly city, Canadian Real Estate Magazine (December/January 2015 Issue) states:
"Now is the time to look beyond the big city" in regards to real estate investment.
This is because many smaller cities house large aging populations that are starting to downsize to condos, leaving behind a hefty influx of houses for investors to scoop up. These houses are often priced to sell quickly, and make great flips for investors.