When media outlets talk about Canadian real estate and where the largest increases in property value are, Hamilton is often overlooked. However, when you look at housing price increases across the country for the past 5 years, Hamilton has increased in value more steadily than any area in Canada..
Data from the Canadian Real Estate Association pointed to one of Ontario’s most promising markets in terms of consistency: Hamilton, which saw its prices dramatically shoot up by 70% over the past 5 years.
“Investors are still flocking to Hamilton because the property values have consistently increased year over year for the past 5 years, but it is still affordable to purchase homes and rent them out with positive cash flow. Hamilton is also an excellent spot for first time home buyers to invest. $400,000 barely gets you a one bedroom condo in Burlington, but 15 minutes over the Skyway Bridge into Hamilton, $400,000 can still get you a 3 bedroom detached home with garage.” – Sean Kavanagh
This considerably outstripped the 58.5% price growth in the GTA since 2013, as well as the 43% national average.
The trend was especially apparent in Hamilton-Burlington, where the average price stood at $581,900 — the fourth highest in Canada.
Top 5 Neighbourhoods in Hamilton
Ottawa Street is the consensus hot neighbourhood pick for real estate in Hamilton
1. Ottawa Street
2. Crown Point East
3. Crown Point West
4. Gibson/Stipley (South of King Street)
5. Corktown
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THE 905 REAL ESTATE GUYS
Sean Kavanagh 905.220.9198
Leo Manchisi 905.334.9650