On Thursday April 25th, 2019 the Barrie Advance published the results of a report written by Zoocasa comparing home prices in the City of Barrie to Toronto.
An average home in Barrie sold for$494,488 in March while the average home in Toronto sold for $830,043. This provides proof of the affordability of Barrie as compared to Toronto. The report even broke it down by neighbourhood and displayed approximate income needed to purchase in that neighbourhood. It then compared required income in to the actual average income of the neighbourhood. It only found one neighbourhood in the City of Barrie where the home prices exceeded the needed income. This neighbourhood was also the most expensive in town in the south east end called Innishore.
Sales were up 12% in March 2019 as compared to March 2018. Zoocasa reports that the resurgence in Barrie is due to the spillover of Toronto residents looking for affordable options.
The report also states that rents are rising in the city of Barrie according to Padmapper. Barrie has the 6th highest rental cost of $1380 for a one bedroom apartment, up 3.8% from a year ago. A two bedroom in Barrie is down to $1500 a month, or 5.1% over March 2018.
Unbelievable!
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