Investors Are Flocking To Hamilton

New numbers are confirming a rapidly growing Ontario city as the hottest hotspot for many investors.

According to CREA, housing prices in the Hamilton area have jumped 16.6 per cent over the past year, the biggest jump in any real estate market in Canada.

In Vancouver, by comparison, prices went up 12.2 per cent while Toronto saw a 10.3 per cent jump.

And it’s not just a case of demand vastly exceeding supply according to some, as the hot market is encouraging homeowners of fixer-uppers to invest in their properties.

Erwin Szeto, a sales representative with Rock Star Brokerage Inc., who specializes in helping property investors in the city, says it’s not just the renovated homes that are appreciating.

“We’re seeing people who are desperate to get into the market, so we’re seeing everything bid up, even if it’s not renovated,” says the agent known around town as “Mr. Hamilton.”

Szeto points to a case on a street where a renovated property was sold for only $10,000 more than an identical home on the same street that hadn’t been touched in 30 years.

Stephen Harper's Stance On Affordable Housing

What else but bizarre would you call Conservative Leader Stephen Harper’s re-election promise to spend a half a million dollars of taxpayers’ money to collect data on foreign ownership of our real estate market to ensure that the purchase of homes by foreign, non-resident investors doesn’t affect the “availability and affordability of homes for Canadians”?

As if the government couldn’t readily obtain such data from the Canada Revenue Agency’s tax records of foreign buyers. Better yet, Mr. Harper’s policy advisers could call major Canadian real estate brokers, such as B.C.’s Macdonald Realty Ltd. Managers there would tell him that buyers from mainland China accounted for 70 per cent of their sales of property priced over $3-million.


Meet Our Team

Maison Valley consists of Mase Dhirani and Sam Valimohamed, two top-producing RE/MAX Ultimate agents, who specialize in the various aspects of both residential and commercial real estate including selling properties, acquiring for buyers, investments & property management.

Broker, RE/MAX Ultimate
Broker, RE/MAX Ultimate