Most Affordable Markets In Ontario For Detached Homes According To RE/MAX SURVEY
For anyone looking for investment property, communities with Colleges and Universities are always a good bet. Sudbury, North Bay, Kingston, Peterborough, Windsor, St. Catherines, London and Niagara Falls all offer the opportunity to purchase reasonably priced student rental properties. I have many clients who have purchased these types of accommodations to house their child during their post secondary years and covered their costs by renting out the remaining bedrooms.
Below is a snippet from a recent RE/MAX Report which surveyed the most affordable real estate markets in Canada. You can read the report it's entirety on one of my recent blog posts.
Forty per cent of markets offered single-detached homes priced under $200,000, including Charlottetown, Saint John, Moncton, Peterborough, Niagara Falls, St. Catharines, Windsor, Fredericton, Halifax-Dartmouth, London, North Bay, Kingston, Saskatoon and Winnipeg. More than two-thirds (71 per cent) offered condominiums starting under $200,000, (Moncton, Fredericton, Halifax-Dartmouth, Sudbury, North Bay, Peterborough, Mississauga, Burlington, Niagara Falls, St. Catharines, Kitchener-Waterloo, London, Windsor, Surrey, Chilliwack, Victoria, Kelowna, Edmonton, Saskatoon, Regina, and Winnipeg).
The most affordable markets for detached homes, based on starting prices are: Moncton ($115,000), Charlottetown ($120,000), and Saint John ($130,000) in Eastern Canada; Windsor ($75,000), Niagara Falls ($119,000), and St. Catharines ($125,000) in Ontario; Winnipeg ($185,000), Saskatoon ($190,000), and Regina ($210,000) in Western Canada.
RE/MAX is Canada’s leading real estate organization with over 17,000 sales associates situated throughout its more than 670 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 36th year, is a global real estate system operating in more than 70 countries. Over 6,800 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in resident, commercial, referral, and asset management