New home buying opportunities abound in Oshawa and Durham Region
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.
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
|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 townhomes
Harmony Creek, Conservatory Group, townhomes and detached homes
Brook Phase 2, Delpark Homes, detached homes
Fields of Harmony Phase IV, Greycrest Homes, detached homes
Kingsview Ridge, Treasure Hill, 30-, 36- and 40-ft. singles
Park Ridge, Tribute Communities, detached homes from the low $900’s
U.C. Towns 2, Tribute Communities, townhomes form the low $600’s
Top of Townline, Woodland Homes, detached homes
For more new home buying opportunities, visit MyHomePage.ca
With files from Natalie Sicilia, New Home Research Manager & Map Editor