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Report gives Orillia top spot April 16, 2004 Toby Gorman An organization formed to help average Canadians learn to successfully invest in residential real estate has declared Orillia the top spot in Ontario in which to invest. The Real Estate Investment Network (REIN), an Alberta-based company that has more than 900 members countrywide, researched and travelled to 59 Ontario cities before deciding Orillia has the best potential for future residential investments. "Property owners and people who are in the market for property in that area should be driving around with big goofy grins on their faces," said REIN president Don Campbell from Vancouver yesterday. "The potential in the Orillia area based on our thoroughly researched criteria is huge. We look at each city and consider the future rather than the past, its potential with respect to lifestyle, recreation, employment and proximity as well as demographics, and come up with a ranking." Barrie tied Orillia for first place while the Kitchener-Waterloo region and Brampton-Orangeville corridor finished second and third respectively. All but two of the top 10 cities, Orillia and Ottawa, were within an hour's drive from Toronto. Campbell, who said he plans to invest here, said that Orillia's population, its proximity and accessibility to Toronto, potential for waterfront development and lifestyle all pushed Orillia to the top. Robert Lamb, Orillia's economic development officer, said the report is a good indication of what lies ahead for real estate in Orillia. "I think the research (REIN) did indicates we are poised for good, stable growth in several aspects of our economy and that people will be attracted to that sort of positive climate," said Lamb, who met with REIN officials to provide information on the region. "I've had a huge number of inquiries recently relating to residential real estate because people are starting to recognize the potential here." Lamb believes the 52-page report, titled The Top 10 Ontario Towns to Invest in, carries some clout. The group has been providing investors with unbiased research for 12 years and its members own a cumulative total of $750 million worth of property throughout Canada. "To be at the top of their list is a very prestigious event for the community," said Lamb. According to the report, Orillia achieved top ranking because it has transformed itself from merely a vacation get-away destination to an economically vibrant area of the province. According to Campbell, the entrepreneurial spirit of Orillia and its representatives was key to creating a diversified and attractive community. He also said that strategically taking advantage of both the area's natural beauty and proximity to Canada's largest city, Barrie and Orillia, the two major cities on the shores of Lake Simcoe, will prove to have "an amazing run in the next decade." To produce the report, REIN researchers compiled data from a variety of sources including the Ontario government, the Canada Mortgage and housing Corporation, Statistics Canada and the Conference Board of Canada. The company's researchers traveled to each of the 59 cities to interview officials, assess local economies and inspect local housing inventories. |
