I had another call last week from a Toronto investor. He is interested in finding a rental property in a good school district and he called me because of the post I wrote, “Where are the best schools in Waterloo Region?”
We had a long conversation about schools and neighborhoods and I asked him why he wanted to invest in Waterloo. He said Toronto is too expensive and for Toronto investors KW is what everyone there is talking about (Barrie too).
According to Stockmarketsreview.com Kitchener-Waterloo is one of the top seven places to invest in Ontario right now.
Kitchener Waterloo is one of Canada’s most dynamic economies. The average price of a home in Kitchener increased by 6.1% during the first half of 2010 over the same period during 2009. The presence of large-scale employers, such as Research in Motion, Manulife, Sunlife and Toyota, as well as two universities and a community college has had a direct impact on positive migration. The region has good infrastructure with good proximity to several industrial parks – the largest being the Huron Business Park is home to a number of industries from seat manufacturers to furniture components.
Buying near a profitable major employer usually means security and good wages for employees, which means that the employees are typically good tenants. There are plans for new infrastructure, connecting Kitchener-Waterloo & Cambridge, making it easier for commuters. The average vacancy rate in Kitchener moved lower to 2.6% in the Fall of 2010. It is projected that the vacancy rate in Kitchener will move lower to 2.4% in 2011.
Kitchener Waterloo is considered to be a top investment area based on:
1. Employment rate
2. Population growth
6. People perception
7. Geographical location
8. Household income