To enhance your buying and selling experience, it’s our job as real estate professionals to provide you with as much valuable information as possible. It is essential that the buyer or seller be aware of all aspects of the real estate market before making a major decision.
This pair of cities is known most for the multiple post-secondary schools in the area, and their growing economy, especially in the tech sector. Though technically two separate cities, they have grown to meet one another, and therefore are commonly seen as one market. The area is popular for families, as well as post-secondary students, young professionals, and new immigrants.
The average residential price in the region was $841,764 in October of 2021, a substantial increase of over 30% from the previous year. In addition, available inventory in the area has been very low for years, driving competition in the market. Despite this, the cities continue to be one of the fastest-growing cities in Ontario, indicating still much to come.
Exerpt from 'What are the hottest real estate markets in Ontario?' by Corben Grant on Dec 17, 2021. Canadian Real Estate Wealth Magazine
Waterloo Residential Rental Bylaw began April 1, 2012
The City of Waterloo's Residential Rental Housing Licensing By-law (no. 2011-047) give the City the ability to manage low-rise residential rental housing in the Waterloo.
It balances the needs of property owners with those of residents looking for safe, adequate and properly maintained rental accommodation as well as limiting the impact of large rental housing units on residential neighbourhoods.
Under this program, landlords must apply for a licence and renew it annually by April 1. If a rental property sells, the new owner must apply for a new licence, which includes getting all the necessary documentation and inspections.
Details can be seen on their website:
6 reasons why Waterloo Region is an attractive place to live.
From Perspective Waterloo Feature Jan 30, 2018
• The Ion LRT service
• Located along Highway 401, and less than 1 hour from Pearson International Airport
• Home of Region of Waterloo International Airport Perimeter Institute for Theoretical Physics
• One of the fastest growing areas in Ontario boasting a diverse economy. Everybody talks about Waterloo region’s flourishing tech sector. But did you know that manufacturing accounts for approximately one fifth of our local economy? We’re also really big in advanced manufacturing, food processing, business, finance and education.
• Two world class universities and a college: University of Waterloo,Wilfrid Laurier University, and Conestoga College Institute of Technology and Advanced Learning.
• Conveniently located along Highway 401 and 70 kilometres west of Toronto, we’re also close to many US cities
Quality of Life:
• Live music & festivals throughout the year, great restaurants, breweries, an active arts community, symphony orchestra, an OHL team, sports fields, parks and arenas provide for an active lifestyle no matter your interests
• Is it the city life or country life for you? There is lots of choice in Waterloo region which is made of three cities: Kitchener, Cambridge, Waterloo and four townships: North Dumfries, Wellesley, Wilmot and Woolwich.