In the last few years, we have seen a wave of growth hover over the Toronto area, then the Hamilton area and now is poised over the Niagara region. The area is more affordable than Toronto, allowing for an outstanding quality of life, with its parks, trails, recreational areas, 130 wineries and 30 golf course while providing a transit system which makes commuting a viable option.
So, whether you're looking for a place to invest, retire or just a change of scenery, the Niagara Region is a very attractive and profitable option.
Several development projects have begun with plans to make the area the go to location for capitalizing on growth. This also means jobs and more prosperity for the area. Growth will be spread around the Niagara Region to deal with increased congestion while keeping the Greenbelt and Niagara Escarpment preservation top of mind.
Niagara is the fifth best place in Canada to purchase real estate, up seven spots from its 12th-place showing in 2018, according to a recent annual study by the MoneySense online business magazine. Home prices in the area average $395,500, with an 8 per cent return on investment after one year, the study says.1
New homes account for much of this growth, with the Niagara Region Planning and Economic Development Committee reporting that investment in building construction grew by 56 per cent from 2015 to 2018, compared to 19 per cent for Ontario as a whole.1
In a master plan created in 2016, housing and population growth changes for the area were addressed.
As expected, land, building permits and construction along LRT lines are experiencing higher than average transactions.
The development emphasis is on low density single detached housing largely in greenfield settings.
The Niagara region is estimated to welcome 168,000 more people to the area by the year 2041.
Transportation was also included in the master plan. In fact, GO Transit has already begun a weekend train service, bringing visitors to and from the Toronto gateway.
GO Transit tickets start from $30 for an individual return ticket or a family plan of $65 for 2 adults and 3 kids under 12. The online train ticket purchase includes 2-days to WEGO, a hop-on, hop-off bus service that travels throughout the city of Niagara Falls and Niagara Parks. Niagara Parks Travel Packages can also be purchased such as the Niagara Falls Wonder Pass along with your transportation leaving dining and shopping the only added expense.
A daily service is expected to begin March 9th with 3 early morning departure times and early evening returns. The new Go Train service works with existing municipal transit systems operating in the region by connecting them together. Transfers can be used to hop onto the, Niagara Falls, St. Catharines and Welland Transits. A stop is also planned for Stoney Creek and future station in Grimsby (2021). For more information click here.
Here are a few new developments with more on the way:
In the community of Fonthill (Pelham)
Detached and townhomes low-rise residential development
Walkable neighbourhood in the Niagara Region.
Townhome prices from the high $500s.
In the heart of Beamsville
Near award winning wineries, country estates,
full-service marinas, world-class golf courses,
and a future GO Transit station just steps away.
Prices starting in the $200s.
Niagara Falls, ON
From invigorating thrills to all the finer things.
Pedal your way through picturesque Niagara-on-the-Lake,
visit Fallsview Casino, or play a round on the tree-lined fairways
at your doorstep.
Sources:
1 https://nationalpost.com/life/homes/go-train-fuels-niagara-housing-boom
https://www.niagararegion.ca/2041/pdf/mcr-pic3-boards.pdf
https://www.gotransit.com/en/travelling-with-us/promotions-and-events/niagara
https://www.niagaraparks.com/visit-niagara-parks/plan-your-visit/deals-packages/
https://niagarafalls.ca/living/transit/go-train-weekday-service.aspx
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