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Why Should You Invest in Oshawa Real Estate?

The city of Oshawa is located in Southern Ontario, along the shores of Lake Ontario, along what is known as the Golden Horseshoe of Canada. Located within the Greater Toronto Area, Oshawa is part of the Durham Region, along with other cities, including Ajax, Pickering, Brock, and Whitby. More than 300,000 people live in Oshawa, which is estimated to increase by 16% over the next ten years. A new home in Oshawa will put you close to excellent communities, recreational facilities, parklands, and schools. A rising population has led to new residential developments in the city as well as the creation of more jobs. In the city, single-family detached homes are most common, followed by buildings over five storeys. Owning a new home in Oshawa gives you easy access to other cities of the Greater Toronto Area. There are highways located north and south of the city, including Highways 401 and 407, which allow residents to travel to neighbouring cities easily. With a car or using the GO Train, Oshawa residents can reach Toronto in less than an hour. Oshawa residents may also access public transportation via Durham Region Transit, which provides transportation options to all residents of Durham Region. The Oshawa Executive Airport, located in the northern part of the city, only provides general aviation and corporate business travel services. Residents have access to a variety of recreational opportunities in the city, including hiking on 27km of trails, exploring the downtown area, and attending events and festivals. Among the city’s attractions is Oshawa Centre, Durham Region’s largest shopping center with more than 230 stores. The city’s three waterfront parks, Lakefront West Park, Stone Street Park, and Lakeview/Lakewoods Park, offer residents and visitors the chance to enjoy nature, or they can explore the trails that take them around 410 hectares of parkland.

Average Home Price for Oshawa in 2021

According to TREB data, the average sale price for all types of homes in Oshawa has been $775,987 over the past year. As a whole, detached houses in the Durham region are worth an average of $1,020,249, while semi-detached houses are valued at $734,458. In Durham, a detached home’s average price is below that of other GTA regions, which is $1,407,540. Durham also has a lower average price for semi-detached homes than other regions in the GTA, which averages $1,055,640. As of 2021, detached homes in Oshawa will sell for $875,538 on average, with an average listing duration of nine days. The average listing day for semi-detached homes is seven days, and the average sale price is $684,478, according to TREB. Home prices in Oshawa are lower than in the Durham Region and Greater Toronto Area. The benchmark price for a single-family detached home has changed by 38.76% since last year to $762,500 this year. Benchmark prices for attached single-family homes have increased 41.99% to $686,500 during the past year.

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Working in Oshawa

The health and biosciences sector employs over 20,000 people in Oshawa, with the most prominent companies in the industry being Praxair, Orthodent, Lakeridge Health, Grandview Children’s Centre, and Lakeridge Health Education and Research Network. There are more than 15,000 people employed in the advanced manufacturing sector in Oshawa, which accounts for 4.4% of Oshawa’s total employment. General Motors Canada, Fresh Del Monte Produce, and EHC Global are among the top companies in advanced manufacturing that operate in Oshawa. Through Ontario Power Generation and two nuclear plants in the city, Oshawa’s energy sector produces over 30% of the province’s electricity. Over 6,700 people are employed in the energy sector, with the most prominent companies being Ontario Power Generation, En-Pro International, and Lakeridge Precision. Information Technology is a sector that employs about 11,700 people delivering products and services to the public. Technology sector jobs include software development and computer services, among many other fields. Conpute, IFTech, and Concentrix are some of the top companies in the IT sector. Several factors contributed to the success of Oshawa in the logistics sector, including its location and infrastructure, such as the Oshawa Executive Airport, rail connections, and seaports, and highway access. The logistics sector, which employs more than 15,000 people, is dominated by companies such as Pival International, Enterprise Airlines, and Mackie Transportation.

Average Home Price for Oshawa in 2021

According to TREB data, the average sale price for all types of homes in Oshawa has been $775,987 over the past year. As a whole, detached houses in the Durham region are worth an average of $1,020,249, while semi-detached houses are valued at $734,458. In Durham, a detached home’s average price is below that of other GTA regions, which is $1,407,540. Durham also has a lower average price for semi-detached homes than other regions in the GTA, which averages $1,055,640. As of 2021, detached homes in Oshawa will sell for $875,538 on average, with an average listing duration of nine days. The average listing day for semi-detached homes is seven days, and the average sale price is $684,478, according to TREB. Home prices in Oshawa are lower than in the Durham Region and Greater Toronto Area. The benchmark price for a single-family detached home has changed by 38.76% since last year to $762,500 this year. Benchmark prices for attached single-family homes have increased 41.99% to $686,500 during the past year.

Oshawa Transit & Accessibility

Residents of new homes in Oshawa can travel elsewhere in the GTA and the city by taking a variety of transit options. Transit services are provided by Durham Region Transit (DRT) in all cities in the Durham Region, including Ajax, Pickering, Whitby, Scugog, and Uxbridge. Additionally, GO Transit provides train and bus services between Oshawa and the GTA and nearby cities. The VIA Rail Canada train service also allows residents to travel to other regions within Canada. Through Highway 401, Highway 407, and Durham regional Highway 2, residents of Oshawa can reach neighbouring cities and the GTA. The Durham Regional Transit buses are equipped with technology that provides easy access for customers with disabilities that comply with the Accessibility for Ontarians with Disabilities Act . Access can be made easier with kneeling vehicles and lowering a ramp for an easier exit and entry. Passengers are also informed about their destinations and routes through audio and visual announcements. For residents of Oshawa, GO Transit services are available at the Oshawa GO Station and the Oshawa Bus Terminal.

Oshawa Neighbourhoods

Oshawa is home to twenty distinct neighbourhoods, each offering a wide range of housing options from detached homes to freehold townhomes. You can find new home developments in Oshawa in the following neighbourhoods of Northglen, O’Neil, Samac, and Vanier. Northglen is located on the west side of the city and the border of Whitby and Oshawa. Northglen is a tree-lined residential neighbourhood with many large, detached homes, making up most of the homes in the area. Residents of Northglen have access to several green spaces, such as Somerset Park and Cedar Valley Conservation Area, and retail and dining options can be found on Taunton Road West or Simcoe Street North, which are not far away from Northglen. Near Downtown Oshawa is the culturally rich neighbourhood of O’Neil, where many prominent city landmarks can be found. The historical Parkwood Estate can be found in O’Neil, as well as one of the largest hospitals in Durham Region, Lakeridge Health. With Downtown Oshawa nearby, O’Neil offers residents the best of urban and suburban living. Located not far from O’Neil is the new neighbourhood of Samac. Samac consists primarily of detached homes, with some townhome and condominium developments. There are many shopping centres in Samac, and it is also home to Durham College and Ontario Tech University. The neighbourhood of Vanier sits on the border between Oshawa and Whitby. The Vanier neighbourhood is a great place to live if you are looking for affordable homes with easy access to education facilities, shopping, and recreation facilities. The Oshawa Centre, the largest shopping center in the Durham Region, is located in Vanier, as well as a popular farmers market where fresh produce, baked goods, and locally made items are available.

Questions & Answers

The Benefits of Investing in Oshawa Real Estate?
How Do Pre-Construction and Resale Homes Differ?
How Does Land Transfer Tax Work in Ontario?

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