Waterloo Region No. 2 place to invest in Canada: survey

RECORD STAFF
WATERLOO REGION — A diverse economy, strong post-secondary institutions and the planned investment in light rail transit makes Waterloo Region the second best place in Canada to invest in real estate, according to a survey by the Real Estate Investment Network.

Don Campbell, the network’s president, said Waterloo Region finished second behind Calgary in the snapshots of best Canadian cities to invest in between now and 2015. “We looked at what regions will outperform the average over the next five years,” he said in an interview Monday.

The survey by the network, a national organization comprised of real estate investor members, considered a variety of factors, including average household income, population growth and affordability of property, plus factors such as the transportation infrastructure.

The report describes Waterloo Region as the “economic Alberta of Ontario,” in terms of investment potential for residential and commercial real estate, outperforming other cities in the province and in eastern Canada. Hamilton and the Barrie-Orillia area are the two other Ontario locations that made the list of 11 best Canadian places to invest in.

Campbell said a diverse economy and favourable geographic location, along with strong post-secondary institutions, were big factors in why Waterloo Region did so well.

The report also cited the region’s high-tech job growth. The investment in the information technology sector has protected the area from the steep economic downturn that affected other communities, the network’s report said.

The planned light rail transportation system will help to make the region a hot investment location for the future, Campbell said. “That will raise the region up on the world map, because it will be one of the smallest centres with its own regional light rail transportation line. That will be a factor in investment and it will also be a factor in attracting new residents from outside the Waterloo Region.”

Another major factor is the affordability of real estate relative to average household income, he said.

In past years, Waterloo Region has ranked as the best place in Ontario to invest in for real estate. This was the first year the network did rankings for all of Canada, Campbell said.