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Top 15 cities in Ontario to watch and buy in 2018-2019


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Guelph has topped the list as the city with the most attractive real estate for buyers in Canada. Homes in Guelph go for about $441,000, which is more than four times the average household income. This certainly isn’t cheap, but in the shadow of Toronto, this is what passes as affordable.

Still, as important as affordability is, cheap house prices alone don’t make for a healthy housing market. A strong housing market should offer some income potential, sustained price growth, and a strong economy to support it. Guelph excels in each of these areas. These are the factors that drive the Where to Buy Now rankings.

Economically, Guelph is on a solid and stable footing with a minuscule unemployment rate. It’s home to advanced manufacturing companies, green tech firms, while also supporting several high paying government and education jobs.

Real estate investors looking in this market will appreciate how tight the rental market is in the city. Rents have risen 20% over the past five years while the city’s vacancy rate is below 1%, meaning investors should not have to work very hard to find a tenant.

RankCityAverage Home price (3 bedroom house)Average income to home price5 year annual ROIAverage 5 year rent increase
1Guelph
Average rent to average home price ratio:
0.63
Home sales to new listings:
86.1
1-year price change:
16.7%
10-year annual ROI:
5.5%
Discretionary income levels:
$50,114
$441,8804.40.0680.2
2Durham/Oshawa
Average rent to average home price ratio:
0.54
Home sales to new listings:
81.6
1-year price change:
20.2%
10-year annual ROI:
7.4%
Discretionary income levels:
$52,653
$528,4754.90.1090.215
3Brantford
Average rent to average home price ratio:
0.73
Home sales to new listings:
86.2
1-year price change:
14.5%
10-year annual ROI:
5.3%
Discretionary income levels:
$44,648
$335,58440.070.185
4Kitchener
Average rent to average home price ratio:
0.69
Home sales to new listings:
83.2
1-year price change:
11.2%
10-year annual ROI:
5.0%
Discretionary income levels:
$48,099
$387,23540.0520.209
5Thunder Bay
Average rent to average home price ratio:
1.06
Home sales to new listings:
68.3
1-year price change:
1.5%
10-year annual ROI:
6.0%
Discretionary income levels:
$47,446
$219,2492.60.0590.249
6Hamilton
Average rent to average home price ratio:
0.53
Home sales to new listings:
83.6
1-year price change:
10.8%
10-year annual ROI:
6.8%
Discretionary income levels:
$48,934
$490,4865.20.080.209
7Niagara
Average rent to average home price ratio:
0.70
Home sales to new listings:
84.9
1-year price change:
16.4%
10-year annual ROI:
4.9%
Discretionary income levels:
$42,600
$342,3424.30.070.172
8Peterborough
Average rent to average home price ratio:
0.76
Home sales to new listings:
77.5
1-year price change:
9.4%
10-year annual ROI:
4.3%
Discretionary income levels:
$42,117
$325,7953.90.0510.108
9Windsor
Average rent to average home price ratio:
0.91
Home sales to new listings:
73.7
1-year price change:
12.6%
10-year annual ROI:
3.0%
Discretionary income levels:
$42,442
$221,4322.80.0590.127
10Toronto
Average rent to average home price ratio:
0.43
Home sales to new listings:
72.6
1-year price change:
21.1%
10-year annual ROI:
7.5%
Discretionary income levels:
$52,653
$753,52870.0930.183
11Barrie
Average rent to average home price ratio:
0.68
Home sales to new listings:
74.1
1-year price change:
17.6%
10-year annual ROI:
6.0%
Discretionary income levels:
$48,506
$438,8284.50.0880.202
12Kingston
Average rent to average home price ratio:
0.93
Home sales to new listings:
48.3
1-year price change:
4.6%
10-year annual ROI:
3.8%
Discretionary income levels:
$48,139
$306,8493.30.0320.222
13London
Average rent to average home price ratio:
0.87
Home sales to new listings:
68.5
1-year price change:
5.4%
10-year annual ROI:
3.9%
Discretionary income levels:
$45,645
$279,6343.20.0370.157
14Greater Sudbury
Average rent to average home price ratio:
0.95
Home sales to new listings:
50.0
1-year price change:
4.2%
10-year annual ROI:
5.3%
Discretionary income levels:
$50,670
$252,4842.70.0180.161
15Ottawa
Average rent to average home price ratio:
0.78
Home sales to new listings:
52.9
1-year price change:
1.1%
10-year annual ROI:
3.8%
Discretionary income levels:
$53,837
$373,7193.50.170.13

 

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