New Condos For Sale in Guelph
Guelph expects to attract a large number of new residents and homeowners as the city’s economic and population expansion drives demand for local real estate.
This 131,000-person city, which is expected to grow to a population of 170,000 by 2030 and 191,000 by 2041, is now already planning for this tremendous inflow. By 2041, medium- and high-density units development is expected to make approximately half of all new construction, making condominium development a key component of Guelph’s future.
Even though the city has one of the lowest vacancy rates in Ontario, the primary rationale for investing in Guelph real estate is the city’s bright economic future. Guelph, which has a strong mid-sized economy, was rated a leading Canadian city for job growth and low unemployment during 2018.
Due to its diverse economy and major location in the Greater Golden Horseshoe area, Guelph is continuing to boom. Much of the economic growth that’s propelling “The Royal City” stems from the city’s robust industrial sector.
This status as a great investment destination hasn’t gone unnoticed. Guelph emerged as MoneySense’s top Canadian city to buy real estate after Windsor in 2019. It continues to be one of the personal finance publication’s greatest places to live; previously getting a highly regarded top-ten ranking, Guelph stays well represented on the perennial list, being 128th in 2018 for its relatively low taxes, rapid commuting times, and excellent health care and amenities.
Guelph is surely a real estate market that real estate investors should absolutely focus on, as an affluent community with great career prospects and residences with outstanding return-on-investment.
What Are The Average Prices For Various Home Types In Guelph?
The current average rental rate in Guelph is $1,500. The vacancy rate in this region is at 1.1%, showing that housing is in high demand.
According to zolo.ca, current Guelph MLS statistics indicate an average property price of $570,185. The average sales price is $570K, up 7.4% from last month and 5% from the previous year.
Also, a 1-bedroom condo unit costs $394K, a 2-bedroom condo costs $487K, and a 3-bedroom condo costs $444K, as per zolo.ca. The price increase has ranged from 37 to 43% year on year.
According to the figures, real estate prices in Guelph have increased significantly over the previous year and are expected to rise further as a result of the city’s ongoing attempts to entice companies to invest in the city.
About The City Of Guelph
Guelph, located one hundred kilometres towards the west of Toronto and just outside the GTA, is an excellent area to reside because of its numerous handy services. And, while its present amenities are equivalent to those found in large cities, Guelph aims to go even further with ambitious goals.
Founded in the 1820s, the city has grown into a lively, dynamic town with numerous Victorian architecture. Guelph’s downtown core is brimming with a variety of retail shops and services, centred by the Old Quebec Street Shoppes, and more. Wellington County, Guelph offers residents a few of the best restaurants and accommodations, educational and entertaining activities, and wide shopping experiences.
Downtown Guelph has several city amenities. Moreover, the city life will remain to get better as the city continues to bring additional local municipal facilities.
South End Community is an upcoming 160,000-square-foot community centre. So, it will have twin ice arenas, a double gym, an aquatic complex, multi-use program and meeting space. Further, Guelph General Hospital may expand health care services with a planning of 4,100-square-foot expansion.
Also, the University of Guelph stands as a prominent institution for possible profitable real estate investment. The area surrounding this prestigious university may be an ideal location for an off-campus student home.
Despite its advanced urban facilities, the city maintains a deep connection with nature. The Speed River runs through city’s downtown core, providing scenic riverside pathways. Furthermore, Eramosa’s construction of Guelph Lake to the city’s north has subsequently become the Guelph Lake Conservation Area.
Employment In Guelph
It’s impossible to discuss Guelph professional or service jobs without mentioning the university. Guelph University has roughly 30,000 students, and its graduates help generate high-skilled opportunities in the region and around the university. The University’s Agricultural College is one of the best in Canada for agricultural science, adding to the university’s strong agricultural background.
There is also a campus of Conestoga College in Guelph. Environmental management, advanced manufacturing, and technology, are a few of the top industries that employ city residents.
About The Transit
Guelph has close proximity to major highways passing through the city and links to Waterloo, Kitchener, and the Greater Toronto Area via route 401. The region’s major expressways are Highway 6 and Highway 401 that lets people reach downtown Toronto approx 100 minutes. For public travel in and out of town, there are numerous GO bus lines that run along the motorway. Many residets commute to Cambridge or Kitchener-Waterloo for work.
Baker District Redevelopment Project
Guelph’s Baker District Redevelopment represents one of the most widely awaited projects presently in the works. This new 500,000-square-foot complex, located on Baker Street between Woolwich and Quebec Streets, will blend residential, commercial, and institutional areas to create a lively, walkable community.
Buyers, first time home buyers looking for their first home, or any one interested in buying rent apartments, new condos Guelph, can reach out to us for any real estate investment. Our realtor can help you locate the ideal apartments or condos for sale out of the several listings.