Hamilton’s hot housing market

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According to new research by the Canadian Mortgage and Housing Corporation, when Toronto real estate goes up, so does Hamilton’s. This spillover affect here in Hamilton means a 1.4% increase for every 1% increase in Toronto.

A home on Carrick Avenue in downtown Hamilton has just been conditionally sold to a Torontonian, the asking price is $499,000. “Their perception is that’s really cheap.”

Many clients from the GTA are interested in just about any and every kind of property in Hamilton. Rick Ferroni from Royal Lepage says the market in Hamilton has been on a steady increase every single year, for over a decade.

“They are jumping on it, because they know next year is going to be another 27%”