Even with stricter mortgage lending rules and the recent quarter point interest increase in most mortgages, the Barrie real estate market is still poised for solid growth for the long term.
In the past half year several prominent real estate reports and articles have praised Barrie as being one of the best places to live and invest in Canada. Another clue for the direction that the Barrie real estate market is heading could be the high Barrie rental rates reported in August 2017, ranking Barrie just below the major Canadian cities of Toronto and Vancouver.
Here are a few reasons why young families and retirees will continue to move from urban centres to Barrie, Innisfil and surrounding communities:
1. Greater Purchasing Power
Simply stated, your money goes farther in the Barrie real estate market compared to Toronto, which means more space for you and your family OR greater savings for retirees from downsizing and selling their properties in Toronto.
2. Small Town Lakeside Atmosphere
Great family lifestyle including cultural and outdoor activities in all four seasons makes for a much more relaxed feeling compared to the faster-paced urban /corporate lifestyle scenario which many city dwellers can relate to. Barrie’s Kempenfelt Bay has 3 great beaches in the summer and great ice fishing in the winter, not to mention all the Summerfest and Winterfest activities. Barrie provides a great mix of city/ cottage and nature combined, with sprawling trails along the shorelines and throughout the parks and forests.
3. Growing Economic Diversity
Barrie is gaining a reputation as an entrepreneurial hub as Millennials who are graduating choosing to stay in Barrie to run their startups. Georgian College has recently announced the opening of a $30 Million Research & Development Centre to support industry-academic partnerships. Larger industrial and automation companies are also expanding in the Barrie area, with Suzuki Canada being a good example, moving its facility from Richmond Hill to Barrie.
4. Great City for Safety
Barrie and the surrounding communities continued to be rated as one of the safest places to live, according to the latest report from Statistics Canada. Living in a safe (and affordable environment) is practically a top priority for every individual, family, and particularly for the elderly, which makes purchasing Barrie real estate more of a good reason.
5. Toronto is Still Accessible
Some people hesitate moving from large metropolitan cities like Toronto because they believe that resources, facilities and opportunities there are one-of-a-kind. Well, Barrie has blossomed and offers great entertainment and recreational activities, delicious cuisine, excellent post-secondary education, good job opportunities and excellent healthcare, making it a very desirable place to live
For those who feel they cannot live without Toronto or have to commute for work, it is only a 60-minute GO train ride to Union Station and bit shorter by car, depending on traffic. For those who prefer the beach in the summer or the Ski hills in the winter the Barrie real estate market provides all the options!
If you are interested in purchasing a house or condo in Barrie or Simcoe County, put the Mark Leader team experience to work for you. Our team of experienced Barrie real estate agents have been helping families find the perfect home for many years and we are ready to help you find what is best to meet your needs.