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Concept
Economy of Hamilton, Ontario
Summary
Hamilton, Ontario is a port city in Canada.
List of Hamilton, Ontario Head Offices
Average house prices in Hamilton were up almost 6 per cent in January 2007 compared to January 2006. The Realtors Association of Hamilton-Burlington says that 'Consumers are continuing to show confidence in resale housing' and reports that 823 properties were sold in January 2007, a 1 per cent decrease from the same period last year. The number of properties listed rose by almost 6 per cent to 1,723. During January 2007, 786 homes were sold, including 650 houses and 136 condominium properties. The average price of non-condominium properties was 193,735.
The city of Hamilton is ranked in its top 10 Ontario places (#5) to invest in real estate. Hamilton's economic diversification which is shifting away from the dirty steel town impression, new immigration to Canada from other parts of the country settling here, low mortgage rates, migration of housing refugees from Toronto, improved GO Transit service, completion of the Red Hill Valley Parkway and booming development at Hamilton airport in Glanbrook are all reasons for the new bloom on Hamilton's real estate market. The report also goes on to add that "Hamilton has lots of properties that are undervalued." All of this, however, was calculated before the 2008 economic recession.
Hamilton's Real Estate Hot Zones:
East End: Anywhere within 500 metres of a ramp from the Red Hill Valley Parkway is expected to open up economic potential in the area, especially the east mountain because of the "easier commute."
Ainslie Wood and Westdale: Anywhere near McMaster University where investors continue to buy property as student housing.
West End: Anywhere within 15-minutes of McMaster Innovation Park (being developed on Longwood Road)
Downtown: Central city, north of Main Street. A lot of activity by landlords picking up two-family and three-family homes as income properties.
Official source
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