THINGS TO WATCH FOR IN THE YEAR AHEAD!
The year 2017 is showing strong promise for being a heated seller’s market throughout local Brant to the Greater Toronto Area. A lack in available housing supply is promising a stronger seating for eager sellers within the market.
RE/MAX™ Real Estate Company estimates the average price of a Canadian home (including condos) will climb 2% in the year 2017. This is roughly in line with RBC’s November forecast for 2017, which has also predicted Ontario will be experiencing a forecast average home price increase of 4.4% totaling approximately C$506,800.
What to Expect In Brantford & Brant County
A Break for First Time Home Buyers!
It has been estimated average house costs rose by nearly 15% over the course of 2016, which creates large financial impacts on new home owners. It is estimated Brant had an average house cost of C$337,000. In turn, it has been announced the land transfer tax for first-time home buyers in Brant has been eliminated! Full details are available here.
For those not yet aware, on 13 December 2016, it was announced that the “Boundary Restructuring Order” has been signed and approved, by the Minister of Municipal Affairs, Honourable Bill Mauro.
This will introduce expanded areas for residential and commercial development within the region. The map below shows the adjustments.
Commercial Development in Brant
Part of an expansion plan for Costco, has been set to introduce seven new store locations across Canada. One of the destinations set for these warehouses is within our own Brantford, Ontario. While the set timeline is not yet declared, the proposed location is set to be Wayne Gretzky Parkway and Morton Avenue. Keep your eyes and ears open as it is likely this commercial superstore will be a part of our local community before we know it!
Another commercial giant, Loccoco has had interest sparked in the potential to invest within the city. It will be moving into the renovated space at 175 Lynden Road this year!
Some key areas to watch for development apart from the Western Portion of Brantford, include
My Priorities Are Simple… They’re Yours!
Kim Bailey-Brown – D: 519-865-0078
Real Estate Sales Representative
Re/Max Twin City Real Estate
515 Park Road North, Brantford, ON.