Want to capitalize on appreciation to invest in another property?
If you have a property in the South Western Ontario area now is the time to capitalize on property appreciation to either sell or pull money out and invest in a rental property in another province or purchase an Airbnb property in Ontario. I have had a lot of clients this past year either sell their property or refinance to increase their investment portfolio. During Covid Airbnb's did very well in the Niagara Region as well as in Lake Erie with solid cap rates. We have seen a significant interest increase in both these areas and it is still affordable.
In Hamilton, Kitchener and Waterloo (KW) we are seeing price increases weekly at this point. It is 100% a Sellers Market, for example from last week to this week we have seen an average sale price increase of: Hamilton $23,868.00 • Burlington $87,453.00 • Haldimand $87,586.00
CMHC is predicting an overall increase of 10% this year and Bank of Canada (BoC) has held their interest rates as of this last week. This will incentivize first time home buyers this year which of course continues to drive up prices.