Guelph was rated on Monday as one of the best cities to buy real estate across the country, only second to Windsor, according to an annual list posted by business and analysis publication MoneySense.
MoneySense ranks cities on value in terms of how affordable the community is “compared to the surrounding area and the region overall”, momentum in regards to how quickly prices are appreciating long-term and expert inside from an exclusive panel of real estate agents.
“Employees often want to live in the same city they work in, so a community’s real estate market really matters,” said Barbara Maly, manager of the city’s economic development, in a press release.
“Whether local businesses choose to expand here or new businesses make the move to Guelph, they can be confident that our community has great housing options for their employees, and all the amenities of an urban centre with the connectedness of a small community.”
MoneySense recorded that the average house price in the Royal City sits at $527,300, some 5.26 times greater than the average annual income, and the five-year annual return on investment is 8 per cent. The average five-year rent increase is 20.02 per cent.
Guelph has been ranked in the top five places in Canada to buy real estate in 2017.