Oshawa is a charming city located on the shoreline of Lake Ontario. Apart from being an educational and health science hub, the city of Oshawa is famously known as the automotive capital of Canada. The presence of the famous General Motors contributes significantly to the city’s economy.
In addition, Oshawa is the ideal place to stay as it offers a comfortable and top-notch lifestyle for everyone.
For those planning to move to and looking to get home, pre-construction homes in Oshawa are among the best investment options available.
There are various grand housing schemes currently under construction in this area, and there is a house for sale in Oshawa for everyone. Therefore, it is up to you to research and identify the perfect place to get a condo for sale in Oshawa for your family. If you’re still undecided if Oshawa is the place for you, some attributes attract many immigrants worldwide to this great city.
Matchless Attributes of Oshawa
Oshawa has a lucrative economy that is growing and thriving each day, with the major employers being General Motors, a giant in the vehicle manufacturing industry. In addition, there are other industries in the city majoring in various fields such as manufacturing mining equipment, rubber products, railway manufacturing equipment, and steel fabrication.
The booming economy extends to the real estate sector, where various agents and companies get attracted and invest in Oshawa pre-construction condos. Considering the market’s current and past performances, the likelihood of making a profit is very high.
The economic growth in Oshawa aids greatly in future economic growth and prosperity, as the economy is growing from an agricultural economy to the manufacturing hub it has become today.
Why should an investor care about economic growth?
Economic growth is of fantastic benefit for traders. The increase in the population will increase the demand for various goods. The purchasing power of the people will increase, which means that more is expected from the housing market.
The economy’s growth means greater demand for pre-construction homes in Oshawa and real estate.
Those concerned about their finances need to know how increasing financial growth will affect their capital and investments.
Accurate Financial Growth
A significant contributor to accurate financial growth is one’s economic security. Insecure people usually don’t invest in risky ventures like real estate or stocks. These types of investments require a certain level of knowledge regarding current conditions in the market and their future possibilities.
Incorporating your personal finance into your analysis helps you consider factors when making important decisions throughout life, like purchasing a pre-construction home in Oshawa or choosing an ideal company. It also enables you to keep track of your assets and investments, which would be very helpful if you are looking at investing some money in stocks or real estate in Oshawa, Canada.
An increase in gross domestic product means more goods and services are being consumed, resulting in greater demand for condos for sale in Oshawa. Therefore, it is clear that an increase in economic growth will lead to increased demand for housing, which will lead to a change in the real estate sector of Oshawa.
Improved government finances
Economic growth can lead to improved government finances. This is because the price of houses and other items rises in terms of regular income tax and municipal taxes. In such a way, the government can collect more tax from these items, leading to increased revenues for the local government.
Generally speaking, Oshawa’s economy will improve due to growth as it will encourage more investment, which will cause an increase in production within the commercial sector. Oswego County property values have shown steady rises for many years. People are already starting to recognize this trend and their ability to purchase and build new homes in Oshawa, Ontario.
Oshawa, Canada, has evolved from an agricultural community into a major industrial center (16 factories were established there during World War II).
As with most other parts of Ontario, Oshawa has experienced significant growth since 1990. People are looking for larger houses that are less expensive than those built before 1990; hence housing values have risen dramatically in recent times.
Economic growth also translates into higher incomes, which will lead to the increased spending power of the people. In other words, the more revenue a person has, the more money they will be able to invest and buy houses and other items that they want.
The growth of the economy has resulted in a considerable increase in the wealth of Oshawa.
This has been achieved using investments into new manufacturing plants and construction activities; those who invested in Oshawa before 1990 have started producing high-quality products that are pretty popular today.
Higher incomes have increased the demand for pre-construction condos in Oshawa and other goods and services such as housing, transportation, education, and healthcare.
Due to economic growth, these goods and services are already available at lower prices. Therefore, a person looking for cheap housing before 1990 will now be able to find such houses at lower prices than before.
Higher incomes have caused an increase in people’s spending power. This has led to increased demand for houses and other items like food, clothing, furniture, etc., already available at lower rates. Hence, a person looking for housing before 1990 will be able to get one at very favorable rates than before.
These factors will benefit property values by increasing the demand for houses for sale in Oshawa, Ontario. The price of real estate is affected by supply and demand factors that play out daily according to economic growth. Factors that influence supply and demand are general economic conditions (growth or decline) and interest rates (which also affect supply).
The result is that Oshawa real estate markets tend to vary significantly from one period of time to another—as they respond not only to supply but also change from the market condition. The Canadian economy has been doing quite well since the 1980s.
Since the 1980s, Canada has experienced an average 2.5% per year growth rate, which is approximately comparable to other G7 countries.
In addition, Canada’s economy has experienced a substantial rise in exports, increasing from $206 billion in 1982 to $307 billion by 1993. The strength of exports can be attributed to various factors, including a large manufacturing sector and a high energy consumption per capita (Canada is one of the world’s largest energy consumers). However, this more significant economic growth is not without problems, such as inflation.
Top-notch Real Estate
Although the present urban growth and success story have occurred since the inception of developments in the northern region of Ontario and the Haldimand County area (City), it plays right into investing by real estate agents upon considering Oshawa as an exclusive metropolitan area that is still constantly expanding its horizons.
Its development pattern has changed more than three times since 19xx’s beginning, recently developing newer houses starting five years after renovation and enhancement of city townships from stone to steel.
Therefore, skyscrapers have created higher desirability at each step of development.
Aside from the sophisticated aesthetic appeal, technicity and convenience also assist each other in attracting further new residents to these areas that have backyard expansions closer to the North Bay, powerfully sharing traits across many areas in GTA. For example, Oshawa is one of the latest areas for the first-home buyers’ market because its housing appreciation rates are growing steadily and have even been experienced at the top spot due to the aging-in-place population of Oshawa.
However, as with most cities nationwide, Oshawa’s housing market is oversupplied. Although new homes are being built and sold, prices have continuously declined throughout the 12 months of June 2020.
Thus this implies that the total supply in Oshawa’s housing market is too much to meet its growing demand due to rising home values.
Oshawa Real Estate Market Overview
Any investor must know a little about the real estate market in Oshawa before they buy their dream property. Here are a few things that will help you gain more knowledge about Oshawa real estate market: –
Many developers and homebuilders develop many new houses for sale in Oshawa and rent annually. However, there are still multiple vacant houses available for purchase and lease in an area where updates are constantly taking place.
Oshawa real estate for sale is mostly a mix of luxury houses, and new housing on the market will not be a hard-to-find type of property. The residents there are willing to pay high prices for the new home construction as more people come to live in the area.
The variations in real estate prices in Oshawa have been shown in the data from the past years, showing that both home value and sales price have been increasing.
Even though it has a higher-than-average median home price, it is still affordable to most buyers compared to other areas, affecting its job stability, decent school system, and quiet nature.
Oshawa Real Estate Market Trends
Highlights of recent sales data in Oshawa are similar to other cities throughout Ontario and Canada. When we compare the current median asking price (asking price for homes) against these significant cities across Canada, we can see that Oshawa’s current price is similar to the comparison cities where it ranks in the middle of Canada.
The number of new houses being built and sold in 2019 was the highest level leading up to 2020. This year Oshawa’s real estate may see an increase in sales thanks to new home developments. –
Oshawa’s Real Estate Market by Home Type
Over 3,000 properties were sold in 2019, primarily single-family homes (93%). The next most significant group of houses for sale in Oshawa was townhouses at 3% (589 properties), and secondary residences made up 11% (1,702 sales).
A total of 1,374 dwellings were listed for sale with a median asking price of $290,000 ($259,716 per month basis), as most sales took place in Oshawa’s most affordable neighborhoods, larger lots with less street frontage on average. The average number of days on the market was 65 days, while the number of homes sold had increased slightly as 51% were purchased by homebuyers and 49% as an investor/rental properties.
Oshawa’s Commercial Market
The commercial market in Oshawa has been on the rise, with 1,393 properties sold on an annual average basis. Due to the new developments and increase in low and mid-tier businesses, the demand for commercial real estate has increased.
Statistics show that only 48% of these sales were to residential clients, while 53% of them demanded commercial properties.
There were 1,136 listed assets available for sale, ranging from office space to industrial units (14%). As well as retail outlets (6%), land & buildings (8%) and shopping malls (6%).
Compared to other cities across Canada, Oshawa is comparable in its property values and rental yields, among other factors when it comes to purchasing a property.
Overall, Oshawa’s real estate market is stable and has a low rate of increase in home values.
The city has a safe community for life, boasting among the safest in Canada. That said, terrorist attacks that have taken place through the years motivate people worldwide to move and settle in areas where security is guaranteed. People who love outdoor adventures and outdoor games can also rest assured since several positions remain open for professional military forces of Canada.
In Oshawa, for members of the military forces to spend time off without any trouble, there is a Home Depot near Oshawa Premier Inn where they can store their duty equipment so they won’t have any problems when they return home.
High housing prices are never an issue in Oshawa, as the average price range with nearby suburbs is approximately $200k-500k depending on whether you’re purchasing new construction or an old property. Despite a slight increase in the housing market, Oshawa’s demand for affordable pre-construction condos has increased.
This motivated many people to build low-end previously deemed “unaffordable” and build more homes within reach of families and individuals currently searching for a home.
Overall, Oshawa is a great place to live, and it offers one of the best real estate markets in Canada. With its diverse economy, Oshawa is well equipped with residential and commercial properties to satisfy all clients.
In addition, various sites provide various services such as recreational activities and jobs. With such an abundance of amenities nearby, finding someone who would want to move there won’t be accessible if they were not comfortable living here.
Oshawa is a developing city that takes pride in its natural beauty and top-notch living standards. The city’s growing economy creates career and business opportunities for the residents. This leads to an improved state of the social amenities such as the exceptional schools and health care systems.
For example, Oshawa is one of the few cities that provides a police force to run a road safety campaign and environmental protection. They encourage their residents to do more outdoor living and sports activities to stay fit. In addition, the city has created opportunities for people with medical conditions like cancer, heart disease, and diabetes that often limit their ability to socialize with others.
Oshawa offers great educational centers. Despite having an average student population, the city’s schools are rated very high in academic performance. For instance, the Oshawa Board of Education provides special education programs, including speech therapy, occupational therapy, and physical therapy, so those with disabilities can receive help when they need it most.
The citizens of Oshawa have a lot to offer since there are plenty of dollars available when it comes time to buy a property or start a business.
Oshawa is the perfect destination worth visiting if you’re a nature enthusiast. Several beautiful beaches and parks transform the place into a paradise. Those who choose to stay in Oshawa and buy Oshawa pre-construction homes are guaranteed quick access to the vibrant coast. In addition, there are numerous trails and parks to explore as well.
For starters, the Credit River leads to a wooded area and connects with other rivers that originate in the wild. The trails are laid out so you can go hiking throughout this park. Moreover, the city has several golf courses to create a healthy lifestyle among its citizens.
Seagull Park also offers visitors many fun activities such as basketball courts, swimming pools, and baseball diamonds. This park has fantastic views of Lake Ontario and is surrounded by beautiful trees without competition from development.
Oshawa’s coastline also benefits from great activities for nature lovers who do not have time to go on adventures all day long. The city offers more than 50 playgrounds such as splash pads, walking paths, and sports fields so people can enjoy themselves when they get tired of playing all day long.
Many residents even form groups that go camping during various seasons and have exciting experiences with their families or friends.
Due to its top-notch amenities and natural beauty, among other things, it will not be difficult for someone who wants to move there since it boasts high-quality services and an affordable lifestyle.
Nearby Leading Cities
It is possible to enjoy affordable housing in Oshawa while working and commuting to Toronto daily; Oshawa is just 60km away from Downtown Toronto. If you own a car, it will take about 30 minutes to get to work.
In addition, there are other transits means available such as the Go Train and railway, that are convenient. There is no instance where you’ll have trouble commuting to nearby cities like Toronto and Mississauga.
It is very nice to have a temperate climate in Oshawa. The average annual temperature is typically between 9ºC and 15ºC, while the average yearly precipitation is around 3,500mm. The weather in his region is humid and arid, with dry periods in between.
The good news is that the weather is not a significant factor in moving there. It’s not a problem to keep calm when you want to go out for dinner and hang out with friends. You can also enjoy your leisure time outdoors throughout the year, like swimming or going on a walk if you need to relax after work.
Many people from all religions visit this place because it has a fantastic atmosphere and is safe for everyone, regardless of religious background. This friendliness even extends to practices like recreational activities such as golfing, hiking, and cycling, where you can meet people from different locations.
Those who work in Oshawa can choose to buy homes close to their workplace. In this way, they get to save time and money every day. There is always something enjoyable to do in the city, no matter your interest.
The community is tiny and even more friendly for you because not many people live in Oshawa. This boosts the natural beauty the place is famous for since there isn’t too much noise you have to deal with when living there. You will enjoy a peaceful place to relax after work and meet new people every day.
Apart from that, it has many parks where you can enjoy quality time with your family or friends without worrying about your children getting into trouble or losing their way while going out on some adventure.
No matter your reasons for deciding on moving here or why you would want to move here, it’s worth looking at the facts listed above. These are all things that everyone can benefit from, so keep reading this article if you want to know more about this city in Ontario, Canada!
Types of housing in Oshawa
The types of housing that you can find in Oshawa are apartments, townhomes, single-family homes, detached and semi-detached homes, Oshawa pre-construction homes, and condominiums. If you’re looking for the best house that suits your needs, it is essential to consider what type of housing you want and which parts of Oshawa are more suited.
You can find a great variety of different types of housing in Oshawa. Here are a few things to keep in mind as you go through this list:
- Rental Properties: Rental properties can be found in all areas of Oshawa. This type is excellent for city students who don’t have much money to spend on housing as they can get a place to rent for meager rates and make their home payment off the rental income alone.
- Moving in Costs: The moving costs could vary depending on where you live in Oshawa, but they shouldn’t be too high if you have enough money beforehand. You should also consider how much time it takes to move into your new place and if extra furniture will fit there or not before making any final decision.
- Prices: You shouldn’t expect that cheap houses are all that are available as some high-end apartments come with very high prices also. However, if you can afford these, they are worth the money as they will last a long time and will be worth paying for.
- Rental companies: There are many different rental companies in Oshawa that offer many choices of places to live. Some of them allow you to choose your furniture and belongings while others don’t, so it is essential to do some research into everything before investing in any condo for sale in Oshawa.
Characteristics of these houses
· Unique designs
Houses for sale in Oshawa are of unique designs, and this is one of the things that many people love about living here. Architects and designers design many places to maximize comfort and aesthetics for the residents, making them much more pleasing to live in.
The houses for sale in Oshawa are built from quality materials to last a long time. They will also be strong enough to withstand any blast or hurricane that comes their way without going down in just a few minutes. This can be seen in the fact that there has been very little damage from the most powerful hurricanes over these few years, and there is no risk of earthquakes happening either, so you can be rest assured that they won’t fall apart at any time because they were built to last a long time.
The Oshawa pre-construction homes are very secure, and you will be safe living in them as they will have all the necessary locks, bolts, and bars on all the doors and windows to keep intruders out. There is also security in the building itself as the alarm systems go off when someone gets in, so you will immediately know if anyone is breaking in.
Easy access to various places
Apartments and houses are easy to get to from all different directions so there won’t be too much of a problem getting from one place to another. You also won’t have to worry about which roads you will take as there are many different ways of getting around Oshawa, and this means that you can always find somewhere to park your car if it needs fixing or cleaning.
- The homes available here are placed in great locations, which means they are only a short distance from most major facilities like schools, malls, and hospitals. They also come with accessible access routes to reach them without wasting too much time on the road because they aren’t challenging to get to at all.
· Modern style
Oshawa preconstruction condos and homes have a modern décor that makes them seem much more welcoming and energetic than traditional houses, so it is good to buy one of these here.
It is clear that the houses for sale in Oshawa offer a lot of things that other places don’t; this is why many students decide to buy their home here regardless of how expensive it is or how far it might take them to get around town.
If you want to live somewhere with historical significance, you should look elsewhere or stick with renting since most people prefer Oshawa pre-construction homes over houses from past centuries.
On-Going Pre-Construction Housing Projects in Oshawa
U.C. Tower 2
Simcoe Street North & Winchester Road East, Oshawa, ON
Builder: Tribute Communities and RioCan Living
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U.C. Tower 2 is an exciting new Oshawa pre-construction condo and development project by Tribute Communities and RioCan that has 27 stories and different housing units varying in size, from 851 to 1626 SqFt. You have enough time until 2024 to visit and buy pre-construction condos in Oshawa at U.C. Tower 2.
100 Bond Street East, Oshawa, ON
Builder: Atria Development Corporation
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Atria Development Corporation is proud to introduce Beyond, new Oshawa pre-construction condos, for a sale development project. This community, located at 100 Bond Street East, Oshawa, ON, is designed to offer all urban conveniences.
80 Harbour Road, Oshawa, ON
Builder: Nahid Corp
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Nahid Harbour is a new condo development project by Nahid Corp that is currently in pre-construction and available for registration. The community is located at 80 Harbour Road, Oshawa, ON. This is one of the ideal places to consider if you’re looking for the perfect pre-construction house for sale in Oshawa.
King’s Cross, Melrose Street & Queensdale Avenue, Oshawa, ON
Builder: Downing Street Group and Holland Homes
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|Single-family home||Registration||Free simple||Pre-construction|
Downing Street Group and Holland Homes manage a new single-family home development project. The King’s Cross community is at Melrose Street & Queensdale Avenue, Oshawa, ON.
Why Purchase the Property In Oshawa?
As we’ve already mentioned earlier, one of the reasons you should purchase a house in Oshawa is that housing is affordable, although this doesn’t apply to rent.
Therefore, it is better to buy a house here if you’re planning on moving to the city. This decision will prove beneficial in the long run since it prevents you from paying monthly rent. Any good investor understands the importance of conducting extensive research and market analysis to help them make informed decisions.
Oshawa is an ideal place to live if you’re planning on moving to the city. This is because it is affordable and has many features and amenities. There are many great pre-construction homes in Oshawa. Investing in homes and condominiums here will never let you down since they are the significant investment you can make in Canada; this should be one of your primary considerations when making a home purchase decision.