Economic fundamentals of Barrie set the stage for real estate investorsJune 13, 2017
CNW, The Wire
VANCOUVER, June 13, 2017 /CNW/ - New research from the Real Estate Investment Network shows the City of Barrie is poised for growth. Barrie meets criteria on REIN's Long-Term Real Estate Success Formula for a future stable real estate market as the city continues to diversify its economy to support GDP, employment and population growth.
A diverse economy combined with Barrie's younger population, post-secondary growth, business-friendly policies, infrastructure and proximity to downtown Toronto make the city a potential real estate investment market for strategic investors.
"Barrie has become a city with strong economic roots," says REIN's Senior Analyst Don R. Campbell, "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." The city is the major urban centre of Simcoe County, but retains its small-town feel, making it an ideal location for young families seeking relative affordability.
Additionally, the average age in Barrie is younger than Simcoe County and Canada's average age. The growth of post-secondary institutions attracts a large student cohort, increasing the need and demand for off-campus housing. Furthermore, the younger demographic suggests future housing demand will shift towards family-oriented two and three-bedroom units in both rental and ownership markets.
Transportation options, including the GO Train, attract 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.
Cautious and strategic investors may find reasonable returns in Barrie. As a smaller centre, Barrie is subject to greater real estate market swings as the larger GTA market experiences ups and downs. Today, Barrie is subject to these swings, but REIN's latest research and REIN's Long-Term Real Estate Success Formula show Barrie is poised for growth and stability.
To learn more and for exclusive interviews with REIN's senior analyst with Don R. Campbell and His Worship the Mayor of Barrie, Ontario, Jeff Lehman, you are invited to attend our REIN Member Meeting. This report and Ontario's real estate market will be discussed.
June 14, 2017 at 7:00 PM
Report when released (public link):
Report (direct link for media):
Report infographic summary:
Long-Term Real Estate Formula graphic: http://cdn3.reincanada.com/Research/Long_Term_Success_Formula_Graph_2016.pdf
SOURCE Real Estate Investment Network Ltd.
For further information: Jennifer Hunt, Director Strategic Projects, Real Estate Investment Network, media@REINCanada.com, 604.449.6034