LOCATION AND GOOD FINANCING ARE KEY TO INVESTMENT SUCCESS SAYS VERICO MORTGAGE BROKERS AND RE/MAX IN CANADA’S TOP 100 LIST
September 26, 2013
A special report supported by the VERICO Network of Mortgage Brokers and RE/MAX of Western Canada has revealed the Top 100 Neighbourhoods for investment in Canada – a list of the top micro markets set to lead the country in growth.
While familiar markets from coast to coast made the Top 100 list, which was compiled by the Canadian Real Estate Wealth Magazine, number crunching and analysis uncovered several surprises that will challenge conventional thinking. Small towns and neighbourhoods from downtown St. John’s, Nfld., and Bedford, Halifax, to Kitimat, B.C., and Cold Lake, Alta., are among the Top 100.
“As this report clearly shows, investment opportunities abound across Canada, both in bigger cities and smaller towns,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “No longer are the big cities dominating the real estate investment landscape.”
In addition to finding the right location for a real estate investment, finding the right financing is also essential to ensuring a good return on investment as it has a direct effect on profits.
“Investors should seek local expertise to navigate the mortgage funding process. Familiarity with the real estate and mortgage financing markets is the key to a sound investment strategy in these markets,” says John Kelly, COO of Verico Financial Group, a national network of over 2400 mortgage brokers.
“This is particularly true in towns with a smaller and less diverse economy, employment base, and rental market. A mortgage specialist with access to both national and local lenders as well as traditional and private financing sources is often essential to make the investment proceed, and make the investment perform," Kelly adds.
Real estate investors should seek professional advice from RE/MAX REALTORS® and VERICO Mortgage Brokers as real estate markets are often dependent on local conditions.
Extensive industry analysis and statistics were used in this report including population, average home price, capital growth and vacancy rate.
The results will be featured in the Canadian Real Estate Wealth Magazine which will be on newsstands across Canada on September 30.
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Data Source: Canadian Real Estate Wealth Magazine
| Prov | City/Town | Neighbourhood | 2012 Avg. Price | 2013 Avg. Price | Price Growth (%) | Avg. Rent |
| AB | Bonnyville | Bonnyville | $348,700.00 | $396,340.00 | 13.66 | $5,700.00 |
| AB | Calgary | Lynnwood Ridge | $330,330.00 | $382,770.00 | 15.88 | $2,000.00 |
| AB | Cold Lake | Cold Lake | $320,110.00 | $356,630.00 | 11.41 | $5,000.00 |
| AB | Edmonton | South Bonnie Doon | $333,090.00 | $402,120.00 | 20.72 | $2,000.00 |
| AB | Edson | Edson | $315,410.00 | $387,450.00 | 22.84 | $2,400.00 |
| AB | Grande Prairie | Central Grande Prairie | $250,020.00 | $270,990.00 | 8.39 | $2,900.00 |
| AB | Hinton | Hinton | $321,570.00 | $359,480.00 | 11.79 | $1,500.00 |
| AB | Leduc | Leduc | $344,130.00 | $368,110.00 | 6.97 | $1,800.00 |
| AB | Lloydminster | Hale Park | $337,470.00 | $368,890.00 | 9.31 | $1,200.00 |
| AB | Medicine Hat | Medicine Hat South | $311,900.00 | $353,730.00 | 13.41 | $1,200.00 |
| AB | Red Deer | Red Deer North | $302,370.00 | $314,860.00 | 4.13 | $1,500.00 |
| AB | Rocky Mountain House | Rocky Mountain House | $326,710.00 | $358,300.00 | 9.67 | $1,200.00 |
| AB | Whitecourt | Whitecourt | $339,950.00 | $391,460.00 | 15.15 | $1,900.00 |
| BC | Castlegar | Castlegar | $291,220.00 | $298,060.00 | 2.35 | $1,500.00 |
| BC | Fort St. John | Fort St. John | $333,820.00 | $362,600.00 | 8.62 | $2,800.00 |
| BC | Greater Victoria | Coolwood and Langford | $413,790.00 | $522,380.00 | 26.24 | $1,500.00 |
| BC | Kitimat | Kitimat | $171,600.00 | $222,070.00 | 29.41 | $1,700.00 |
| BC | North Vancouver | Lynn Valley | $538,980.00 | $588,490.00 | 9.19 | $1,400.00 |
| BC | Surrey | Whalley | $300,760.00 | $342,230.00 | 13.79 | $2,200.00 |
| BC | Terrace | Terrace | $208,180.00 | $240,580.00 | 15.56 | $850.00 |
| BC | Vancouver | Grandview-Woodland | $374,510.00 | $386,860.00 | 3.30 | $1,500.00 |
| MB | Brandon | East Brandon | $209,880.00 | $241,270.00 | 14.96 | $800.00 |
| MB | Selkirk | Selkirk | $244,520.00 | $286,330.00 | 17.10 | $1,100.00 |
| MB | Winkler | Winkler | $226,580.00 | $280,910.00 | 23.98 | $1,000.00 |
| MB | Winnipeg | Broadway and The Forks | $247,460.00 | $380,050.00 | 53.58 | $1,700.00 |
| NB | Grand Bay-Westfield | Grand Bay-Westfield | $206,610.00 | $216,090.00 | 4.59 | $1,100.00 |
| NB | Moncton | Old West End Moncton | $156,520.00 | $180,000.00 | 15.00 | $3,200.00 |
| NB | Rothesay | Rothesay | $193,480.00 | $318,230.00 | 64.48 | $1,200.00 |
| NFL | Conception Bay | Conception Bay South | $265,220.00 | $292,900.00 | 10.44 | $1,100.00 |
| NFL | Portugal Cove-St. Philip's | Portugal Cove-St. Philip's | $324,780.00 | $397,590.00 | 22.42 | $2,400.00 |
| NFL | St. John's | Downtown St. John's | $311,280.00 | $345,930.00 | 11.13 | $2,100.00 |
| NS | Halifax | Bedford | $311,350.00 | $328,670.00 | 5.56 | $2,000.00 |
| NS | Halifax | Central Halifax | $367,510.00 | $402,260.00 | 9.46 | $7,500.00 |
| NS | Halifax | Dartmouth | $252,980.00 | $314,830.00 | 24.45 | $1,500.00 |
| NS | Halifax | Harrietsfield | $253,970.00 | $282,010.00 | 11.04 | $1,200.00 |
| ON | Arnprior | Arnprior | $256,680.00 | $277,170.00 | 7.98 | $1,400.00 |
| ON | Aurora | Aurora | $514,525.00 | $531,260.00 | 3.25 | $2,000.00 |
| ON | Aylmer | Aylmer | $204,050.00 | $245,220.00 | 20.18 | $1,000.00 |
| ON | Bradford-West Gwillimbury | East Bradford | $400,440.00 | $413,640.00 | 3.30 | $2,900.00 |
| ON | Brampton | Northwood Park | $401,940.00 | $428,070.00 | 6.50 | $1,600.00 |
| ON | Burlington | Burlington North | $421,070.00 | $484,640.00 | 15.10 | $2,800.00 |
| ON | Burlington | Burlington South | $343,940.00 | $387,530.00 | 12.67 | $2,800.00 |
| ON | Clarington | Bowmanville West | $277,950.00 | $308,940.00 | 11.15 | $1,500.00 |
| ON | Clarington | Courtice | $314,300.00 | $326,110.00 | 3.76 | $1,200.00 |
| ON | Georgina | Keswick | $321,360.00 | $340,950.00 | 6.10 | $1,500.00 |
| ON | Greater Sudbury | New Sudbury | $247,480.00 | $264,460.00 | 6.86 | $3,000.00 |
| ON | Guelph | Guelph Northwest | $292,380.00 | $337,800.00 | 15.53 | $1,800.00 |
| ON | Halton Hills | Acton | $396,390.00 | $436,690.00 | 10.17 | $2,000.00 |
| ON | Hamilton | Confederation Park | $359,025.00 | $382,362.00 | 6.50 | $1,250.00 |
| ON | Hamilton | West Stoney Creek | $278,440.00 | $318,700.00 | 14.46 | $1,800.00 |
| ON | Hamilton | Dundas | $386,800.00 | $403,360.00 | 4.28 | $3,000.00 |
| ON | Innisfil | Innisfil | $305,590.00 | $326,170.00 | 6.73 | $1,200.00 |
| ON | Kenora | Kenora | $155,200.00 | $185,290.00 | 19.39 | $2,000.00 |
| ON | Kincardine | Kincardine | $246,810.00 | $292,920.00 | 18.68 | $1,100.00 |
| ON | Kingston | Westbrook | $323,420.00 | $346,230.00 | 7.05 | $1,200.00 |
| ON | Kitchener | Doon | $408,100.00 | $458,550.00 | 12.36 | $1,800.00 |
| ON | London | Old North Area | $375,670.00 | $414,880.00 | 10.44 | $1,800.00 |
| ON | Markham | Thornhill East | $538,960.00 | $589,350.00 | 9.35 | $2,400.00 |
| ON | Mississauga | Malton | $340,580.00 | $351,420.00 | 3.18 | $1,500.00 |
| ON | Mississauga | Mississauga City Centre | $434,670.00 | $464,880.00 | 6.95 | $1,660.00 |
| ON | New Tecumseth | Alliston | $323,400.00 | $343,950.00 | 6.35 | $1,200.00 |
| ON | Newmarket | Newmarket Northeast | $397,540.00 | $435,740.00 | 9.61 | $2,400.00 |
| ON | Orangeville | Orangeville South | $356,030.00 | $406,120.00 | 14.07 | $5,200.00 |
| ON | Oshawa | Oshawa East | $341,200.00 | $362,660.00 | 6.29 | $1,800.00 |
| ON | Ottawa | Beaverbrook-South March | $340,280.00 | $375,420.00 | 10.33 | $2,200.00 |
| ON | Ottawa | Centretown | $339,350.00 | $419,670.00 | 23.67 | $1,500.00 |
| ON | Pickering | Central Pickering | $423,500.00 | $444,000.00 | 4.84 | $1,500.00 |
| ON | Scugog | Port Perry | $383,090.00 | $421,780.00 | 10.10 | $1,300.00 |
| ON | Thunder Bay | Thunder Bay North | $304,730.00 | $338,070.00 | 10.94 | $1,300.00 |
| ON | Toronto | Agincourt | $412,450.00 | $420,090.00 | 1.85 | $1,800.00 |
| ON | Toronto | Eringate-Bloordale Gardens | $427,940.00 | $494,100.00 | 15.46 | $2,200.00 |
| ON | Toronto | Guildwood | $397,620.00 | $421,290.00 | 5.95 | $1,500.00 |
| ON | Toronto | High Park | $518,940.00 | $560,330.00 | 7.98 | $5,400.00 |
| ON | Toronto | Humberwood | $361,080.00 | $387,690.00 | 7.37 | $2,500.00 |
| ON | Toronto | Mimico | $401,630.00 | $459,360.00 | 14.37 | $1,800.00 |
| ON | Toronto | The Junction | $381,110.00 | $419,480.00 | 10.07 | $1,500.00 |
| ON | Toronto | Weston Village | $414,270.00 | $436,480.00 | 5.36 | $1,600.00 |
| ON | Toronto | Woodbine Heights | $463,220.00 | $502,720.00 | 8.53 | $2,400.00 |
| ON | Uxbridge | Uxbridge | $483,540.00 | $524,180.00 | 8.40 | $1,500.00 |
| ON | Vaughan | Patterson | $621,000.00 | $651,750.00 | 4.95 | $2,400.00 |
| ON | Whitby | Whitby North | $441,920.00 | $467,950.00 | 5.89 | $1,600.00 |
| ON | Woolwich | Woolwich Township | $313,310.00 | $313,560.00 | 0.08 | $1,800.00 |
| PEI | Stratford | Stratford | $299,870.00 | $323,030.00 | 7.72 | $1,750.00 |
| QC | Boisbriand | Sainte-Thérèse | $273,090.00 | $320,740.00 | 17.45 | $1,200.00 |
| QC | Brossard | Brossard South | $323,620.00 | $337,730.00 | 4.36 | $2,300.00 |
| QC | Dollard-Des Ormeaux | Dollard-Des Ormeaux Southwest | $346,920.00 | $380,750.00 | 9.75 | $3,500.00 |
| QC | Laval | Chomedy Northwest | $304,990.00 | $315,750.00 | 3.53 | $1,200.00 |
| QC | Laval | Saint-Vincent-de-Paul | $301,500.00 | $343,790.00 | 14.03 | $3,000.00 |
| QC | Longueuil | Longueuil North | $326,070.00 | $342,020.00 | 4.89 | $6,800.00 |
| QC | Montréal | Central Saint-Laurent | $432,570.00 | $527,240.00 | 21.89 | $4,000.00 |
| QC | Montréal | Mercier-Ouest | $424,320.00 | $491,350.00 | 15.80 | $3,900.00 |
| QC | Montréal | Pointe-Saint-Charles | $354,930.00 | $403,320.00 | 13.63 | $4,250.00 |
| QC | Montréal | Sainte-Geneviève-Pierrefonds | $348,690.00 | $377,630.00 | 8.30 | $1,500.00 |
| QC | Montréal | Saint-Henri | $296,940.00 | $319,740.00 | 7.68 | $2,400.00 |
| QC | Montréal | Saint-Laurent East | $467,810.00 | $521,500.00 | 11.48 | $3,800.00 |
| QC | Québec | Quebec City East | $332,620.00 | $364,990.00 | 9.73 | $1,181.00 |
| QC | Québec | Sainte-Foy | $331,180.00 | $358,350.00 | 8.20 | $1,200.00 |
| QC | Trois-Rivières | Cap-de-la-Madeleine Ouest | $195,230.00 | $231,040.00 | 18.34 | $600.00 |
| SK | Regina | Central Regina | $256,810.00 | $301,660.00 | 17.46 | $2,100.00 |
| SK | Saskatoon | East Central Saskatoon | $325,720.00 | $360,900.00 | 10.80 | $2,000.00 |
| SK | Swift Current | Swift Current | $225,370.00 | $258,290.00 | 14.61 | $1,350.00 |
Data Source: Canadian Real Estate Wealth Magazine
Media Contact:
Pin Luk
Marketing Communications Manager
Verico Financial Group
Phone: 604.681.6155 ext 230
Email: pin.luk@verico.ca
Media Contact:
David Geraghty
Communications Coordinator
RE/MAX of Western Canada
Phone: 250.712.0037
Email: davidg@remax.ca
About Verico Financial Group Inc.
Verico Financial Group is Canada’s largest network of independent mortgage brokers comprising of over 190 offices with over 2400 brokers who originate over 12 billion dollars in annual loan volume. Our brokers collectively originate approximately 45,000+ mortgage transactions per year.
VERICO is comprised of the top professional and influential mortgage companies and originators in the country.
The VERICO Mortgage Broker Network prides itself on our core pillars of excellence, professionalism and ethical standards; as a result, we have earned a reputation that is coveted in the industry.
For mortgage help, contact a VERICO mortgage broker near you. www.verico.ca
About the RE/MAX Network
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording RE/MAX agents and franchisees the flexibility to operate their businesses with great independence. With over 90,000 agents and a global reach of more than 90 countries, RE/MAX is recognized as one of the world’s leading franchisors of real estate brokerage services.
With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $53 million for Children’s Miracle Network Hospitals®,Canadian Breast Cancer Foundation and other charities.
For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.ca.
About Canadian Real Estate Wealth
Canadian Real Estate Wealth magazine is Canada's only monthly publication dedicated to Canadian real estate investors. It is designed to offer readers the kind of accurate, cutting-edge information needed to guide their investment decisions and help them build wealth through real estate.
