Hamilton among the best places to buy real estate in Canada, magazine says
Hamilton is among the top 10 places to buy real estate in Canada.
That’s according to MoneySense Magazine.
The publication says Hamilton is the seventh-best real estate market in the country, with Corktown listed as the best neighbourhood to buy a house, followed by Stinson, Beasley, Hamilton Centre and Crown Point East.
They were chosen based on three criteria: value, momentum and expert insight.
Nine of the top 10 Hamilton neighbourhoods in this year’s Where to Buy in Real Estate report are downtown, reflecting the demographics and needs of current home buyers — younger professionals who prioritize walking, biking and transit access above a two-car garage.
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The magazine’s annual report on real estate used data from Statistics Canada and the Canada Mortgage and Housing Corporation (CMHC) to analyze the real estate markets in Canada’s largest 35 municipal areas.
In the article, MoneySense says, “Often overshadowed by Toronto to the east and Niagara Falls to the west, Hamilton is a city primed to explode. While prices have certainly appreciated over the last decade, there are still deals to be found in this city with Steeltown roots.
“And, in recent years, developers finally gave Hamilton a second look.”
The article said the average house price in Hamilton is $587,300 and the average annual return on investment over the past five years has been eight per cent.
Windsor topped the list followed by Guelph, Brantford, Victoria, St. Catharines/Niagara and London.