Homes & Relocation Detail
Property prospects in Ontario
Ontario remains very popular as a destination for Brits. But just what are the property prospects like in this area?
Migrant and local resident, Mike Howe says, "The most popular area to live in Ontario is in the centre of the major cities such as Toronto and Ottawa". Toronto, the provincial capital, is Canada's largest municipality by population, with Ottawa, the national capital, following its lead, being the second largest municipality in Ontario. Howe continues: "I have seen a lot of people heading towards Toronto and the Greater Toronto area which includes areas such as Guelph, Kitchener and Waterloo, and Brampton, all within an easy drive of Toronto.
Indeed, The Greater Toronto Area, located in southern Ontario and stretching along Lake Ontario's shoreline receives more than 80 per cent of Ontario's immigrants. Served by good road, air and rail networks, many people have moved away from major cities and are now commuting to work. For example, Howe states that "there has been an increasing number of people moving from the city to Barrie and Simcoe Country. "Located on the shore of Lake Simcoe, approximately one hour north of Toronto and the gateway to cottage country, property prices are lower here and the commute has been made easier with the introduction of a direct train this year."
Property prices in Ontario are closer to the national average than any other province or territory in Canada. Recorded at CDN$317,346 in December 2007, the average property price was just below the national average of CDN$317,825. Despite its popularity with both inter-provincial and international immigrants, property prices in Canada's central province are by far the most expensive in the country, with the average price in British Columbia, CDN$457,865, and Alberta, CDN$354,290 warranting more concern over issues of affordability. "Property prices vary enormously but the rule of thumb would be that the further you are from one of the major cities, the cheaper the property and the more land you get with it," says Howe. "This does not mean you have to be out in the wilderness – even an hour away from the major cities is enough to see a significant change." He continues: "There are a wide range of properties available with a boom in condominium living taking place in the major cities as people move back downtown."
Related articles:
Ontario is so popular with Brits
Ontario Provincial Nominee Programme
Canadian property taxes to rise
Register for your FREE emigration starter pack
Subscribe to Emigrate magazine. Read more ...