Barrie Prepares to Normalize its Housing Market
A new report by the Real Estate Investment Network has highlighted Barrie as a potential housing destination in the midst of other leading Ontario housing markets as the city is well known for its variant economy which is well balanced in terms of GDP, jobs and also the increase in the population.
One of the possible ways to help put Barrie on the spotlight when it comes to attracting real estate buyers according to the report is to improve on its existing infrastructure coupled with making business friendly regulations and also improving on ties with Toronto.
REIN senior analyst Don R. Campbell noted that Barrie has made itself known through its vibrant economic background. There are lots of potentials in Barrie which is a favorable condition for a strong developmental housing market.
One of the other significant qualities of Barrie is the fact that despite its economic buoyancy, the region still has a moderate feel which makes it a great place for millennials and seniors who want to live a quite life away from the city. The housing market in Barrie is also relatively affordable in comparison to other leading housing markets across Canada.
Campbell went on to express that the young population are also highlighted because Barrie offers great opportunities for younger people as their numbers are on the increase in post-secondary institutions which adds to the demand for homes for people who do not want to reside on campus.
Young buyers have been finding it very difficult to have affordable homes in a hot real estate market which has led many youngsters to remain living with their parents or co-own homes with their friends.
For people who went through transportation constrains, Barrie has made itself a great option as it has transportation alternatives such as GO Train which is a very favorable sieve many people consider when looking for homes.
The REIN report also went on to showcase that the days that Barrie was just a weekend destination are over as more and more people are moving to the area to settle and this in turn is increasing on demand in the area.
