Quote:
Originally Posted by Berklon
Even though home prices aren't insane in Hamilton, I still think they're overpriced. I've seen way too many homes that were priced at 240k only 5 years ago which are now valued at 360k. A 120k increase in price for a home that has gone through minimal upgrades in a neighbourhood that has seen no changes is too fast/too soon.
|
It was probably the flippers and the realtors being greedy, as all the media (them people again) were wittering on about how great Hamilton would be for Toronto commuters, as they could buy twice as much for half the price. However, the demand from the higher paid Toronto commuters isn't there yet. However, as soon as the James North station is in place and the 45min commute is a reality. The flippers will try again.
My advice, if you're going to buy somewhere, try and buy it before the new station opens. I've seen areas in London literally double in value within 2 years of a new station being opened. Not that that's applicable globally, but better transport links will translate into a house price rise of some kind in the neighbourhoods closest to them.