Looking to invest in the housing market this year? Look no further than Oakville real estate. While the past year saw overall market fluctuations, there are several factors pointing to new and up-and-coming opportunities on the horizon.
Lack of supply leads to demand for Oakville property
Oakville continues to be one of the fastest growing regions in the Greater Toronto Area, not least because of its beautiful waterfront, high-end amenities, and, of course, stunning homes. While Toronto’s population is on the rise, the housing market isn’t meeting demand in both the retail and rental markets. Although prices remain on the higher end, a combination of successful millennials and recent retirees are hoping to make a more permanent move, and they are looking to Oakville to fill that need.
New developments in production in the Oakville area
One of the first things to note in this area is how many developments are currently in production. There are close to 50 new projects being developed, including condominiums, single-family homes, and townhouses. Oakville is responding to the demand for supply by not only increasing development projects but by injecting money into other important areas of the community.
Updates to key areas of town indicate signs of growth
Streetscape and road updates have already begun on Lakeshore Road, the heart of downtown Oakville. The good news is that this is more than just basic upkeep. In fact, these bustling city sidewalks are being widened and rebuilt to allow businesses the space for outdoor patios. There will be more room for pedestrians to stroll and more opportunities for retail experiences, which will ultimately strengthen the local economy.
International interest remains constant
For years, there has been global interest in Canadian real estate, with the GTA and Vancouver areas being of greatest value. Although tax rates have increased for international investors, the Canadian market remains a strong contender for investment. Oakville is one of the areas that benefits greatly from this. Many Canadian buyers are looking to avoid the downtown hustle by settling in the suburbs, and global investors are looking for luxury housing in an established, highly-desirable area.
Why selling now could be your best option
With its robust mixture of local and international buyers looking to invest in the region, homes for sale in Oakville are holding their value, with some even experiencing an increase. Although some areas are experiencing less stability, if your home or your area of interest is in a popular region, selling your home now could earn you a considerable return on investment.
Another reason to consider selling is that, according to the latest industry analysis, the government is hoping to increase the level of affordability of the real estate market by pushing housing prices down. If you’re looking to receive top dollar in the short term, now might be a preferable time to sell.
Whether you’re in the market to buy, sell, or rent in the Oakville area, there are countless opportunities for growth. Between city upgrades, a robust community, and a booming economy nearby, there are many great reasons to invest in the local housing market. If you’re looking to get into real estate, or simply buy a house in a wonderful neighbourhood, Oakville is the place to be!
For more information on how to approach your real estate investments, consult one of our realtors for their expertise and the latest in industry trends.