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Guelph chosen as top city in Canada to buy real estate

MoneySense has the Royal City ranked number one
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20160202 Guelph Basilica of Our Lady Immaculate Downtown 02 KA

According to MoneySense.ca, Guelph is the best city in Canada to buy real estate in.

The magazine's online portal has Guelph at number one in a story released on its web site on Tuesday.

"Guelph has topped the list as the city with the most attractive real estate for buyers in Canada," the article says.

"Homes in Guelph go for about $441,000, which is more than four times the average household income. Relative to markets like Saint John, Thunder Bay or Moncton, this Southwestern Ontario city certainly isn’t cheap, but in the shadow of Toronto, this is what passes as affordable."

"Still, as important as affordability is, cheap house prices alone don’t make for a healthy housing market. A strong housing market should offer some income potential, sustained price growth, and a strong economy to support it. Guelph excels in each of these areas. These are the factors that drive the Where to Buy Now rankings."

The MoneySense top 10 and the average home price in those cities is:

1. Guelph ($441,880)

2. Durham/Oshawa ($528,475)

3. Brantford ($335,584)

4. Kitchener-Cambridge-Waterloo ($387,235)

5. Thunder Bay ($219,249)

6. Hamilton ($490,486)

7. St. Catharines-Niagara ($342,342)

8. Vancouver ($1,017,228)

9. Peterborough ($325,000)

10. Windsor ($221,432)

 




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