Among Ontario’s burgeoning markets, Barrie has been cited by the Real Estate Investment Network’s latest report as a promising housing hub, chiefly because of its diversifying economy that aims to buttress GDP, employment, and population growth.
Helping the city’s chances as a premier destination for strategic real estate investors in the future is its infrastructure, along with its business-friendly policies and proximity to downtown Toronto.
“Barrie has become a city with strong economic roots,” REIN senior analyst Don R. Campbell explained. “It has all of these fundamentals lined up in support of a bright future, which are ideal conditions for a stable and growing real estate market.”
Another factor that might magnetize investment funding is Barrie’s small-town feel despite its status as a major urban centre, “making it an ideal location for young families seeking relative affordability.”
Campbell stated that the younger population is especially of note, since the increasing influence of this cohort is leading to a pronounced growth in post-secondary institutions, in turn fuelling demand for off-campus housing.
In addition, transportation options like the GO Train play a major role in attracting downtown Toronto professionals seeking affordable living.
“The city is no longer just a weekend destination. Professionals can continue to work in downtown Toronto and end their day in a much more affordable backyard, driving housing demand in Barrie,” REIN noted in its report, which can be accessed here