The Reality of the Ontario Rental Market
Supply and Demand.
There simply isn’t enough housing supply to sustain Canada (specifically Ontario’s) growing population.
Low Vacancy Rate
The most economically desirable regions of Ontario have attracted many people, and anticipated future demand is expected to continue to outweigh the supply, thereby keeping vacancy rates low for the foreseeable future.
High Rental Prices
Numerous municipalities are experiencing increasing rents due to the low vacancy rate and heightened rental competition, despite government regulations on rent controls.
Along with the intentional rent controls in Ontario, nationwide restricted lending rules have made it increasing difficult for people to buy houses, especially millennials. This has forced people to be renters, for longer (until they can save up a down payment, or increase their income).
As you can see, there is great growth potential in the Ontario Rental Market, especially in the Hamilton Burlington Area.
If you want to start growing your wealth through real estate, contact Stephanie today!