OSHAWA – A business magazine has placed Oshawa at the top of the heap in terms of places to buy real estate in the GTA.
MoneySense looked at Canada’s top 35 largest cities and compared housing prices and price appreciation then factored in value, momentum, income potential and economic health. Durham/Oshawa was also rated ninth in Canada (up from 10th in 2015). In the ranking for five-year price appreciation, Oshawa placed first in the GTA and second in Canada.
According to the study, the average price for a home in Durham/Oshawa is approximately $439,842, with an impressive five-year price appreciation of eight per cent.
In addition, two Oshawa neighbourhoods, when compared to 400-plus neighbourhoods in the Toronto area, made the top 25 list for real estate investment. The central Oshawa neighbourhood ranked No. 5 and the O’Neill neighbourhood ranked No. 25.
Two other Oshawa neighbourhoods -- Windfields and Taunton -- received a 4-star realtor grade and were among a small group of 19 Toronto neighbourhoods (out of 400-plus) to receive the top 4-star rating.
“Oshawa is one of the best places to live and invest,” said Mayor John Henry. “Our community boasts an exceptional quality of life with top-notch post-secondary options; job opportunities in growth sectors; and a wide variety of leisure and recreational opportunities. Include an integrated transit network of highways 401 and 407, Durham Transit, GO Transit, VIA Rail, airport and harbour. Oshawa simply has it all.”
“Oshawa has a robust housing market with both existing home sales and sales in new subdivisions,” added Councillor John Aker, chairman of the development services committee. “There is excellent choice and value for homebuyers who want to live in a healthy, safe and progressive community.”