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Mr Derf · 07-20-2007, 08:17 PM

Tony Wong
Business Reporter
If you wanted to invest in a home over the last year, where would be the best place in Ontario?
Forget about the Greater Toronto Area. According to a study released today by ReMax Ontario Atlantic Canada, you'd have to go to Timmins.
The average price of a home in Timmins, population 43,000 and perhaps most famous for being the home of pop star Shania Twain, increased by 29 per cent over the last year, the highest in the province, according to ReMax.
Smaller suburban markets in Ontario are now enjoying the substantial price appreciation of markets in the Greater Toronto Area according to ReMax. Smaller markets also typically see a greater percentage price appreciation because base average prices tend to be lower.
Even with a 29 per cent increase, the average price of a home in Timmins is a relatively modest $129,272.
ReMax credits a new call centre in the area and a growing retail sector as some of the reasons for the new prosperity.
“Prospects are expected to improve further for Timmins when the mining sector moves from the exploration phase to production,” said ReMax. “More of the young people are choosing to stay and make a go of it, in contrast to years past when poor job prospects created a significant brain drain to areas south.”
Sudbury was in second place with a 22 per cent gain to $178,290, and Haliburton was in third place, up 20 per cent at $117,496.
The towns of North Bay, Collingwood, Pembroke/Petawawa and Sarnia all saw gains of 10 per cent year over year.

Toronto, on the other hand, saw a comparatively modest increase of 4 per cent year over year, but remains the most expensive city in the province with an average house price of $371,905, according to ReMax. The Toronto Real Estate Board recently reported that there were more than 11,000 sales in May, the highest ever for a single month in the history of the board.

07-20-2007, 08:17 PM	#31 (permalink)
Mr Derf Vote Derf 4 Prez! Join Date: Jun 29 2006 Location: NE Age: 46 Posts: 2,470 Rep Power: 9	Re: Holy Moly Tony Wong Business Reporter If you wanted to invest in a home over the last year, where would be the best place in Ontario? Forget about the Greater Toronto Area. According to a study released today by ReMax Ontario Atlantic Canada, you'd have to go to Timmins. The average price of a home in Timmins, population 43,000 and perhaps most famous for being the home of pop star Shania Twain, increased by 29 per cent over the last year, the highest in the province, according to ReMax. Smaller suburban markets in Ontario are now enjoying the substantial price appreciation of markets in the Greater Toronto Area according to ReMax. Smaller markets also typically see a greater percentage price appreciation because base average prices tend to be lower. Even with a 29 per cent increase, the average price of a home in Timmins is a relatively modest $129,272. ReMax credits a new call centre in the area and a growing retail sector as some of the reasons for the new prosperity. “Prospects are expected to improve further for Timmins when the mining sector moves from the exploration phase to production,” said ReMax. “More of the young people are choosing to stay and make a go of it, in contrast to years past when poor job prospects created a significant brain drain to areas south.” Sudbury was in second place with a 22 per cent gain to $178,290, and Haliburton was in third place, up 20 per cent at $117,496. The towns of North Bay, Collingwood, Pembroke/Petawawa and Sarnia all saw gains of 10 per cent year over year. Toronto, on the other hand, saw a comparatively modest increase of 4 per cent year over year, but remains the most expensive city in the province with an average house price of $371,905, according to ReMax. The Toronto Real Estate Board recently reported that there were more than 11,000 sales in May, the highest ever for a single month in the history of the board.