It was another record month for Durham Region. Construction continues to boom with hundreds of building permits issued totaling millions of dollars.
Drive through the north end of Oshawa and you will see new homes being built daily… and it doesn’t look to slow down anytime soon.
“The big thing of course is afford ability and it’s more affordable to live in Durham Region than it is on the West side of the City. And it’s certainly far more affordable to live here than in the city.”
RBC released its latest Housing Affordability Report and not surprising, single family homes in Toronto are becoming unaffordable for families with detached homes going for a million dollars.
The average selling price for a home in Oshawa last month is 4 hundred and ninety thousand dollars, that’s a 16.5 percent increase from February 2015.
Durham Region Association of Realtors President, Sandra O’Donohue says Durham Region is the place to live.
“It is a great place to raise a family, educate the children and the children can then take that education and turn that into a job in their own area so they can truly work where they live.”
Four records were set in February 2016. They include highest residential construction value issued.
It was also the highest number of permits, single detached dwellings and highest total number of dwellings issued in February. O’Donohue believes the demand for homeownership in the Durham Region will continue into the spring market due to low interest rates and a good economic environment and will only continue to grow.