The Rise Of Real Estate In The Oshawa Area

oshawa durham region picOshawa is a city in the province of Ontario, Canada which sits on the shoreline of Lake Ontario, about 60 kilometres east of Toronto. It is the largest city the regional municipality of Durham, and is known for its automobile industry, as it houses the Canadian division of General Motors.

According to many real estate publications, the regional area in general, and Oshawa specifically are very good buys right now for real estate. The Durham area is being recognized as a very good real estate value, and Oshawa is recognized as one of the best values in the region.

Residents of Oshawa certainly think so too, as the general sentiment of people who live there is that they would not choose to leave the area at all. They call it “one of the finest places to live and to invest” in recent surveys.

The town is touted as having an exceptional quality of life with very good post-secondary options in education as well as good opportunities for employment in various growth industries. There are many opportunities for leisure and entertainment and cultural facilities.

The transit network is very advanced and offers easy access via well maintained highways, rail, harbor and airport conveniences.

The average price of a home in the Oshawa vicinity sold for $387, 490 in 2014, which translates to 3.7 years of the average income of a family to purchase, compared to other regional area where it took 5.6 years for Toronto and 9.1 years in Vancouver.

Homes in the Durham area have appreciated roughly 7.3 percent over the last five years, a remarkable statistic when you factor in the overall real estate market during that period of time.

At the present time, the real estate market in the Oshawa area has more buyers than there are sellers, making the market a hot one, and this activity tends to push up prices, which makes it a seller’s market. Low interest rates are also driving up the demand as it is perceived by people to be a good time to invest in real estate in Oshawa.

Overall, Oshawa is considered to be a great place to live with all of the necessary elements being present from an economic and lifestyle perspective. When people identify a good area to live, it is usually based upon these factors, and the Oshawa and Durham areas certainly fit the criteria.