 Real Estate Figures Nothing to Flip - April 17, 2004 Real estate figures nothing to flip over April 15, 2004
By Derek Abma
Ottawa Sun
Despite a rapid run-up in house prices in the past three years, Ottawa is ranked only the ninth-best place in Ontario to invest in residential real estate, an investor's group says. The Real Estate Investment Network (REIN), a club of about 1,000 real estate investors across the country, puts Ottawa one spot ahead of Toronto's Junction district and just behind Oshawa in terms of places in the province that can provide the best return on investment on residential properties.
The organization said 59 areas were measured.
REIN president Don Campbell said the organization consults with economists and realtors in the cities it looks at to arrive at its conclusions.
"We look for towns that have a future, not a past," he said. "A lot of people like to buy on reputation. We don't."
He said one of the best things about the Ottawa market is its high income levels, which increase the amount people are willing to pay for housing. The population base is also well-educated, thanks in part to post-secondary institutions based here.
The district consisting of Barrie and Orillia was ranked as the best place in Ontario to buy real estate.
Posted April 17, 2004 |
