If you look at the year over year stats, there’s no denying that Ontario is growing fast. And this growth is being seen all across the province, not just in the major metros. Many smaller municipalities are also seeing major growth spurts in both housing development and in commercial space. As cities like Toronto become more expensive, and as other A+ areas reach their full growth potential, some cities are becoming the new hot spots for buyers.
If you’re curious about where in Ontario you should be looking to move in 2019, here are five areas you can move to now to get ahead of the boom.
Ottawa is one of the most desirable places to live in the world right now. It has a low cost of living compared to other cities, a strong economy, affordable daily life, and a very vibrant and diverse makeup. Even with a population of just around a million, it still has maintained a community vibe. Being the capital of Canada, there’s no surprise that there is so much to see and do here, from arts, entertainment, and sports, there’s something for everyone.
Ottawa also has a broad range of employment options and hosts one of the largest tech hubs in Canada. And when it comes to housing, you can find suburban detached homes, high-end condos, new builds and just about whatever you’re looking for.
Guelph is one of Canada’s fastest growing cities. In fact, the Conference Board of Canada has projected Guelph to grow by 2.2 percent in GDP in 2018. The report also predicts that Guelph will continue to grow above the provincial pace in 2019. With a population of just over 150,000, it still has a delicate balance between country life and city living. Housing is also priced right. If you’re looking for a townhome or new build, this city has a number of fine development projects underway.
Another growing city in Ontario is Belleville. In fact, in 2016 Belleville ranked #2 on the U-Haul Migration Trends that listed the top growing cities in Canada. Due to its location on Lake Ontario and being across from Ontario’s popular wine district, Prince Edward, Belleville offers a nice blend of family living with tourism and recreation. If you enjoy golfing, hiking, fishing, and shopping, Belleville has it all making this the perfect area to raise a family.
London is a safe and welcoming city that still maintains small-town charm but has the employment opportunities of a large city. Like Guelph, it’s also a booming university city that has low unemployment and affordable housing options, but it has a much larger population — approximately 495,000 people. London also has an array of entertainment options, world-class health care, and a quality transit system.
The real estate market here has been exploding over the past five years. One of the biggest reasons this has become a popular place to move to is because of the job market. With offices of Google and Shopify here, it has become the country’s biggest tech spot. Kitchener/Waterloo also has a growing immigrant population, which makes it one of the largest ethnic communities after Toronto. And there are plenty of parks, conservation areas, and a number of exciting festivals that makes this a popular area to live.
If you’re looking to move in 2019, contact The Mortgage Advisors to explore your options! Our team of real estate and mortgage professionals can help make your process easier. Contact us to find out how.