Are you looking to buy a home? Or maybe you’re curious about what the housing market is doing in Ontario? Well, either way, a new report has been released with all the deets on the best places in Ontario to buy a house. Ready to learn a thing or two? Keep on reading.
The report comes from MoneySense and ranks the best-value neighborhoods in the nation based on a few different factors. Some of those include things like the current average home price, price growth, and neighborhood characteristics. But for the purpose of today, we’re going to focus on Ontario.
Now you already probably know which areas will be low on the list but what’s high on the list might surprise you. Coming in at number one in both Ontario and the nation is Bancroft.
If you haven’t heard of the area, it’s about 250 kilometers northeast of Toronto and is known for being prime cottage country and in close proximity to Algonquin Provincial Park. But what really seals the deal is that the local selling prices are 47% below the national average. Can’t go wrong with that, can you?
Now next up is Woodstock Ingersoll which comes in at number 2 for both Ontario and the nation. They made the list for having an average home price of $433,383 which is 22% below the national average.
Coming in next is London and St. Thomas. A home in the area averages around $436,433 and has a three-year appreciation of 77%. Pretty good, pretty good.
Now you already know Toronto ranks low, the city comes in at 38 nationally with an average home price of $915, 001. Zoinks!
The good news about all this though is that there are plenty of great places to buy in Ontario. If you’d like to see more data from MoneySense you can click here.