Oshawa Real Estate
Oshawa Real Estate Market
Oshawa Real Estate has been and continues to be an attractive place for local buyers and investors alike. Oshawa, Ontario is another community in GTA located along the shorelines of Lake Ontario. As the eastern anchor of the Golden Horseshoe, it is the biggest municipality in the GTA. This is partially due to the fact that it is the headquarters to General Motors Canada. In fact, Oshawa is known as the “Automotive Capital of Canada,”, and with a population of almost 150,000, (2011 Canadian census), the Oshawa real estate market continues to grow attracting first time and seasoned buyers on regular basis.
Oshawa got its name from an Indian word meaning “the crossing place,” due to its location in the GTA. Oshawa became a town in 1879 and incorporated as a city in 1924. With a history rich in automotive plants and union factory jobs, Oshawa is the 11th largest city in the Toronto region and continues to be a Canadian hub for automotive manufacturing.
Demographics of Oshawa
The Oshawa real estate market boasts a population growth of 6% which was up from the previous 5 years (2011 Census). Although the General Motors Canada headquarters continues to be the area’s largest employer, changes in the automotive industry have contributed to the 7.6% unemployment rate.
Minority immigrants make up approximately 16% of the Oshawa’s population with blacks making up 39% of the minorities and south Asian making up the next group at 17%. English remains the mother tongue of Oshawa with 93% of its population speaking it. Only 0.1% of the Oshawa population speak French and a small 6.4% of the population speaks both French and English.
As the “Automobile Capital of Canada,” you can only imagine that transportation is largely relied upon automobiles. The GO Transit train system does connect Oshawa with Toronto, Hamilton, and other surrounding areas and is a popular means of transportation for commuters to other parts of GTA. A major stop for automobile and steel industries, road salt delivery, and agricultural fertilizer delivery, the Port of Oshawa keeps Oshawa as a major sea port for imports and exports. Oshawa is also the home of a regional airport with in-terminal customs and immigration stations.
With over 2,500 acres of parkland and almost 30 miles of trails, Oshawa is internationally known for its parks and natural treasures. Locals and tourists alike take advantage of all Oshawa’s many indoor and outdoor facilities from parks to recreations complexes making it an attractive place to call home for many.
The Oshawa real estate market continues to be stable. Though many commuters are lured to Oshawa by low housing prices and easy rail service to Toronto, rising property taxes, due to concern with urban sprawl, continue to be on the radar of property owners in the Oshawa community. Home to Durham College, Oshawa’s top rated college was ranked in the Top 50 Research Colleges in Canada and is the 10th largest employer in the Oshawa-Durham area.
According to the Durham Region Association of Realtors, home prices in the Oshawa real estate area are selling more quickly than other Durham Region areas with an average selling price of $345,851, still below the Toronto national average of $507,000.
If you have any questions about the Oshawa Real Estate, please do not hesitate to CONTACT ME for additional information.
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