BARRIE - To the right buyer, every old bungalow is new again.
The Best Deals in Real Estate 2015 MoneySense report ranking cities across the country rated Barrie as the third best place to buy a home in Canada.
"We're seeing a lot of buyer demand with people downsizing from the city," said Lisa Fox at Keller Williams Experience Realty in Barrie's south end.
"They're retired or nearly retired and they want bungalows. Well, bungalows is what we've got, as soon as they go up (for sale) they're gone," she said.
Fox said another hot market in Barrie is filled with first-time buyers cashing in on low interest rates.
"Investors are big right now, too. Investors are looking for rental properties and with the interest rates so low, their return on investment is great," she said.
The report focuses on four key areas such as home values, market momentum, the local economy and income potential, said Mark Brown, author of the MoneySense report.
Ranking everything from average home price, appreciation of homes over a 10-year period, average rental price increase and vacancy, the report found Barrie in the top 10 for most categories, Brown said.
Barrie ranked in the top five cities with one of the fastest appreciating housing markets in the country.
"And it was for multiple years, not just a one year blip," Brown said.
Barrie's rental vacancy was 1.7%, again in the top 10 of cities. The national average is 3%.
Read the full article here.
Posted by: Littlewood Properties