New home buying opportunities abound in Oshawa and Durham Region

By NextHome Staff
November 28, 2018
[caption id="attachment_37001" align="alignnone" width="600"]EDITOR'S CHOICE: Podium Developments Ironwood Towns in North Oshawa by Podium Developments and Urban Capital[/caption]Despite the bad news this week that General Motors Canada plans to close assembly operations in Oshawa, there are some good new home buying opportunities in the city and elsewhere in Durham Region.As various levels of government and the Unifor trade union vow to somehow keep the plant open or otherwise deal with the fallout of the decision, the housing sector in Oshawa is expected to shift into a buyers’ market.That could mean deals for buyers in a market where home prices have already been under pressure. 

Also read: What the GM plant closure means for Oshawa economy and housing

Also read: Oshawa housing to move into buyers’ market thanks to GM closure

 For those looking to buy a new home, know that there are still plenty of good opportunities in Oshawa and surrounding area.First, let’s look at recent new home buying activity in the area, courtesy of statistics from Altus Group, theofficial source for market intelligence for the Building Industry and Land Development Association (BILD). 

Total new home sales, units

OshawaDurham Region
Annual
2013 682 2,376
2014 1,108 3,130
2015 971 3,433
2016 1,149 5,344
2017 490 2,385
Jan-Oct
2017 483 2,262
2018 83 1,065
Source: Altus Group
 Naturally, the GM news is a sensitive topic to an industry such as home building, where companies dedicate years to planning and construction development projects. So don’t expect a comment any time soon from BILD, the voice of home builders in the GTA, or individual companies.Might developers at some point offer deals – be they discounts or upgrades – in order to move an unsold inventory in a market not feeling the strongest at the moment?It never hurts to ask. 

A selection of new home and condo inventory

Ironwood in North Oshawa, Building Capital and Podium Developments, contemporary freehold townhomesHarmony Creek, Conservatory Group, townhomes and detached homesBrook Phase 2, Delpark Homes, detached homesFields of Harmony Phase IV, Greycrest Homes, detached homesKingsview Ridge, Treasure Hill, 30-, 36- and 40-ft. singlesPark Ridge, Tribute Communities, detached homes from the low $900’sU.C. Towns 2, Tribute Communities, townhomes form the low $600’sTop of Townline, Woodland Homes, detached homesFor more new home buying opportunities, visit MyHomePage.caWith files from Natalie Sicilia, New Home Research Manager & Map Editor

Have great ideas? Become a Contributor.

Contact Us

Our Publications

Read all your favourites online without a subscription

Read Now

Sign Up to Our Newsletter

Sign up to receive the smartest advice and latest inspiration from the editors of NextHome

Subscribe