Thunder Bay is Canada’s top rated City to buy real estate in 2016, according to an article published in the April 2016 issue of MoneySense, by Ramona King and Mark Brown. The full article can be accessed HERE, for your reading pleasure! While it’s no surprise to me and many of my colleagues that Thunder Bay continues to be a fantastic City to invest in, with prices increasing overall at healthy rate while still remaining affordable- the average home price in Thunder Bay in 2015 was $216,000- modest in comparison to larger Ontario centres, it always boggles my mind when someone asks me why people are relocating to this wonderful and prosperous City.
The article sites an increasingly knowledge based economy which has provided us with a cushion against tougher economic times, and I have to say that I agree 100%. Over the last several years, we have worked primarily with relocations to our City for Government, Hospital, Med School, and University opportunities. Mining also continues to be a huge area of growth, with Thunder Bay acting as the primary staging centre for many remote areas.
People come here and they are blown away by the gorgeous lake views, the mountains, the food scene which features such amazing variety- upscale, local, trendy, niche- anything you can think of. We have our fun and trendy Bay and Algoma District, home of a great variety of shops, pubs, restaurants, and coffee shops, and the world renowned and famous Hoito which even has it’s own Wikipedia Page! Fabulous fitness centres, yoga studios, hiking trails, ski hills, salons and on and on- there is truly something for anyone here!
With home prices remaining so affordable, it really begs the question, if you’ve been waiting to purchase your first home, an investment property, or are thinking of upsizing, or downsizing, what are you waiting for? Now’s the time!
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