Similar to most waterfront communities, Barrie has become a hot real-estate commodity. Located on Lake Simcoe, the area is experiencing highest price appreciation in the province, up 17 percent from 2015 to 2016. With a bigger square footage and less mortgage, residence is increasing in Barrie, there are many homes available in Barrie, for now! With the growth in number of homes availble and the rental marketing looking good, it is a perfect city for new investors, who are not yet ready to invest such a large sum in Toronto.
With improving access to GO Transit, Barrie is attracting more workers commuting to Toronto, not only their student population. There is easy access to highway 400N, only 100 KM from the core of Toronto. Direct access to Highway 400N making it easy to get around the region and province. GO Transit offers routes connecting Barrie with the core of Toronto and the GTA.
Barrie has made a major stride in the real estate market due to its increase in GDP, population growth coupled up with simultaneous creation of job opportunities. It is an amazing city with lakeside access without all the crowds, a great place to raise kids while having easy access to Toronto. One of the most affordable cities with access to the Go Train Line. The city is planning ahead, including growing infrastructure and supporting future businesses and jobs, the City of Barrie has created a variety of plans varying from Land Use, Special Policy Areas, Road, and Intensification plans.
With the average price less much lower than Toronto’s and good rental rates, Barrie makes for a great rental property.
As part of the Simcoe County, Barrie attracts a large portion of the billion dollars tourism brings to the County. This southern area accounts for upwards 70% of Ontario’s GDP, and the tourism industry alone welcomes nine million visitors annually to the Simcoe County. Over the next 15 years, Barrie is expected to see the population ride to 210,000. The demand for rental properties in the City of Barrie remains on a steady incline, this is due to the city expecting a sizeable population increase and property prices sky rocketing in early 2017. With affordability becoming an issue, more people are starting to rent and with younger families being able to afford less, this is great for investors. However, it is important to remember, two- and three- bedroom units outperform one-bedroom units.
One of the investment benefits Barrie has over its neighbours in the Simcoe Valley is the main hospital, Royal Victoria is in Barrie, this attracts hospital- focused residents including elderly looking for affordable units, professionals in the health care industry for nice apartments to rent, or even homes. Patents or family of patients in long-term treatment.
The average price for all homes sold in January 2018 was $522,053, up 8.7% from January 2017. New residential listings rose 31.1% from January 2017 to 527 units in January 2018