MoneySense Magazine has placed St. Catharines as one of the top 35 cities in Canada to invest in real estate.
According to the 2017 Where To Buy Now rankings which looks at the healthiest real estate markets across Canada, MoneySense ranked St. Catharines-Niagara as 7th on a list of 35 Canadian cities based on average home prices, income, and annual return on investment, up from 13th in the 2016 rankings. With rising concerns about the real estate market and affordability from financial institutions and realtors, the list looks at healthy markets that are able to withstand a potential downturn.
“While this ranking clearly demonstrates that St. Catharines has become one of the hottest housing markets in Canada, it also points to growing challenges people are facing who are looking to live and work in our city,” explains Mayor Walter Sendzik. “We need to ensure that we have a strong mix of affordable housing for all income levels, and the forthcoming Housing Action Plan will focus on this increasing issue in our city.”
The ranking also comes as St. Catharines-Niagara was showcased recently in media outlets such as the National Post and the CBC as an affordable alternative to skyrocketing home prices in the Greater Toronto-Hamilton Area. Both pointed to economic growth and quality of life as factors attracting more people to the region.
“The growing interest in living in St. Catharines and the wider region goes hand-in-hand with the economic growth that we’re seeing here,” says Brian York, Director of Economic Development & Government Relations for the City of St. Catharines. “Businesses and entrepreneurs are recognizing that St. Catharines is not just a competitive and affordable place to do business but also an affordable place to live with a great quality of life.”
For more information about investment opportunities in St. Catharines visit www.investinstc.ca.
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Contact:
Mayor Walter Sendzik
905-688-5601 ext. 1540 (office)
mayor@stcatharines.ca
Brian York
Director of Economic Development and Government Relations
905-688-5600 ext. 1720
byork@stcatharines.ca
