The Boom of Niagara’s Real Estate Market
2017 has brought a rush of optimism and opportunity to the Niagara Falls real estate market, primarily thanks to this year’s hot housing market in the region. The Niagara housing market has been steadily increasing over the last year. It joins a list of new activities that have given the local economy a boost.
If you’ve been considering investing in property or moving to a new area, check out Niagara real estate for your next move.
More people are moving to Niagara than before, thanks to this new and improved economy. This has helped to drive the rise of the housing market as well as projects to create more residential options.
It’s also driven an increase in transportation options and city amenities, including new hospital projects and an expansion of the GO train Lakeshore corridor to Niagara.
Local Businesses are Thriving
Many industries benefit from the increase of building construction. The construction, landscaping, real estate, and manufacturing industries are all expected to see a rise in profit over the next year. As a result, the retail trade, transportation, and tourism industries will get a bonus.
Employment rates for the area are directly influenced by the success of local businesses, which is a major factor in today’s day and age.
The employment rate for the Niagara region took a major hit after 2009, but has made an impressive comeback in the last few years. Since the end of 2014, the employment rate has grown by 5 percent.
The boom in local industry and development projects has created many new job openings for hopeful residents who are looking to avoid having to move to Toronto for employment.