Hello Everyone Investing in Hamilton Real Estate!!
For those of you who already own a piece of Hamilton, I imagine you’re very happy with how your investments are doing (if you’re not, you’re doing something wrong because me and my clients are DAMN happy).
Check out the latest stats from the Realtors Association of Hamilton Burlington broken down by area:
For my clients or anyone who’s spoken to me about where to invest and have followed through with my advice, you shouldn’t be surprised the Mountain, Hamilton West and Central are performing so well based on FUNDAMENTALS and not cheap property as the masses and novices try to do.Â Notice how Hamilton East, an area ranked low on my list is cheap but under performs compared to the neighbouring areas.
Prices have gone up a lot so is there still good investments out there?Â To answer your question check out CMHC’s Hamilton Market Outlook (link: http://www.cmhc-schl.gc.ca/odpub/esub/64303/64303_2013_B01.pdf).
Here are some interesting excerpts from the report:
With mortgage rates expected to remain relatively low in the next year, a higher number of financially stable young professionals will move into the homeownership market particularly in the second half of this year.
the average home price gap between Hamilton and the Greater Toronto Area (GTA) remains significant enough to encourage more people to move from the GTA into the Hamilton CMA.
Given that prices are projected to grow more slowly coupled with steady income gains, homeownership affordability in Hamilton and Brantford will improve slightly by the second half of 2013. According to the latest CMHC calculation, the required income to buy a home in Hamilton and Brantford is projected to decline relative to the actual income for the average household. Improved affordability will attract more prospective homebuyers which may further support the housing market recover in the second half of 2013.
Outlook sounds pretty good to me…. and I’m not sure why they keep mentioning recovery, on the streets we’re facing multiple offers on almost every property we’re trying to buy placing pressure on prices to go no where but UP.
Finally, we have two new listings to announce!Â They are right next to the downtown Go Train Station where $244,900 buys you 1,000 square feet, 2 bedrooms, 2 full bathrooms, granite counter tops and laminate floors.Â Â That’s $245/sqft in the #1 Investment Town vs. your typical $550/sqft in downtown Toronto yet the rents are pretty similar…
Click here for details if you’re interested in investing in the rejentrifying of downtown.
Till next time – Happy Hamilton Investing Everyone!
Erwin |Â MrHamilton.ca
PS: If you are just starting out investing, start by investing in yourself by getting training by Clicking here for FREE Training on “How to Invest in Nice Homes in Nice Areas”
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