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Local Focus: Oshawa & Whitby

Is Oshawa & Whitby the next hot new destination?

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Is Oshawa & Whitby the next hot new destination?

As prospective homebuyers have looked outside the Toronto core in search of more affordable lowrise homes in recent years, most of them have headed to Hamilton, Burlington, Milton and other points west.

This migration may soon change.

“The west end of the GTA has a greater diversity of communities that are attracting a diverse range of buyers,” Christopher Alexander, executive vice-president, ReMax of Ontario-Atlantic Canada, told HOMES Magazine earlier this year. “In the past 10 years, there has been significant focus on the growth and development of these regions, whereas historically, Durham has not traditionally been viewed in this same regard. With the boom in areas towards the east, like Prince Edward County, and the affordability leveling out, we will likely see the tide begin to turn.”

So, there you go, homebuyers – keep an eye on Whitby, Oshawa and other parts of Durham Region.

Economic diversity

And don’t let any potential uncertainly over General Motors Canada’s announcement late last year that it would close its Oshawa assembly plant. Oshawa, and other points in Durham, are about a lot more than one company.

“(The) employment sector in Oshawa has been shifting for some time, and Oshawa has healthily diversified to add technology, educational institutions, healthcare, administration and many professionals to its offerings of great jobs and companies in the market,” says Christian Huggett, vice-president, development, at Podium Developments. The company has a number of townhome developments in the city.

“(The GM news) not altered our plans,” he says. “We continue to believe that the outlook is bright for home sales in North Oshawa, buoyed by its proximity and relationship to schools, the 407 network, the significant growth occurring and planned for North Oshawa.”

Location just east of Toronto along Hwy. 401 is among the reasons Whitby and Oshawa draw attention. With Whitby just 59 kms from Toronto and Oshawa 62, commuting is a real option – particularly with recent GO Transit improvements and the expansion of Hwy. 407.

Durham Region Transit connects with the other cities in the region, including Pickering, Ajax, Clarington, Brock and Uxbridge. The 401 runs through the south of region, Hwy. 7 runs across its northern edge and the Hwy. 407 extension to Hwys. 35 and 115 across the top of Durham Region.

Translation? Getting to, from and around Durham is getting increasingly easy, which makes living here and working elsewhere a real possibility.

Expanding attractions

As with any growing municipality, Whitby and Oshawa also offer expanding amenity and retail options. The Oshawa Centre, for example, is the largest shopping complex in Durham and is home to more than 230 outlets. And in downtown Oshawa, of course, there’s a variety of unique shops and restaurants.

In Whitby, Pearson Lane is a historical development that houses boutiques, cafes and services.

Nature is also front and centre, as Oshawa is home to wildlife preserves such as the Pumphouse Marsh, Second Marsh and McLaughlin Bay Wildlife Reserve. Oshawa Botanical Gardens boasts North America’s largest contemporary peony collection.

In Whitby, more than 100 parks more than 60 kilometres of trails, including the Bio-Diversity Trail, the Cullen Central Park Trails, Otter Creek Trail and the Whitby Shores Waterfront Trail, await residents. The 670-acre Lynde Shores Conservation area is known for its wildlife and provides habitat for nesting birds.

Location, location, location

  • Located east of Toronto in York Region, Durham forms the east end of the GTA. Whitby 59 km from Toronto, Oshawa 62 km. Durham population 645,862; Oshawa 159,458; Whitby 128,377.

Key landmarks

  • Lynde Shores Conservation Area
  • Oshawa Botanical Gardens
  • Oshawa Centre
  • Tribute Communities Centre

Select housing developments

OSHAWA

Eastmore Village by Delpark Homes

Ironwood by Podium Developments

O North Urban Towns by Greycrest Homes

Symphony Towns by Marlin Spring

Winchester Estates by Menkes Developments

WHITBY

Park Vista by Paradise Developments

Park Vista by Fieldgate Homes

Station No. 3 by Brookfield Residential

The Hamptons at Country Lane by Heathwood Homes


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Oshawa housing to move into buyers’ market thanks to GM closure

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Oshawa housing to move into buyers’ market thanks to GM closure

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In one fell swoop, General Motors Canada’s announcement on Nov. 25 that it plans to close all assembly operations in Oshawa, Ont. effectively has pushed housing there into a buyers’ market.

“The announced General Motors plant closure will certainly impact Oshawa, and the trickle-down effect will be felt across the province,” Christopher Alexander, executive vice-president and regional director, ReMax Integra of Ontario-Atlantic Region, told Homes Publishing.

“However, it’s important to remember that GM isn’t the economic driver that it used to be in Durham Region. The area boasts a growing education sector and a new casino is slated to open in 2019, which will boost new condo development and housing demand. With the rise of remote work and no relief expected for Toronto house prices in 2019, Oshawa will continue to be a popular choice with first-time and move-up buyers who have been priced out of the 416.”

There you have it, prospective home buyers.

Opportunity knocks

While such a major employment hit is hardly an occasion to celebrate, these developments could mean opportunity for those looking to buy a home.

“The fact is that more than 2,500 GM workers will be left in the lurch come 2020, and the looming loss of income will likely prompt a softening of the market at a local level, as existing residents and prospective homebuyers digest the news and what it might mean for them,” says Alexander. “This coming closure, coupled with further interest rate increases in 2019, is likely to trigger a market shift from the current balanced territory, as homebuyers delay purchases, scale down lower-priced properties or move away in search of employment.”

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

Also read: Focus on Whitby and Oshawa

Also read: 5 affordable neighbourhoods for detached homes in 416 and 905

Another real estate expert, Don R. Campbell, says the impact of the closure could take 18 to 24 months to play out fully in the region.

Diversified economy

Thankfully, there is more going for Oshawa and the Durham Region than just General Motors. Though it was once described as the “Automotive Capital of Canada,” in recent years the economy has diversified into education and health sciences. The University of Ontario Institute of Technology, Durham College and Trent University Durham and all have campuses in the city, among other economy-boosting facilities.

Indeed, in its latest Metropolitan Outlook, the Conference Board of Canada pegged Oshawa to be one of the strongest economies in the province for 2018. The Board forecast real GDP growth of 2.6 per cent this year, following 3.2 per cent in the last two years, citing strength in the non-residential construction, education, health care, finance and insurance sectors.

In addition, Statistics Canada figures show that Oshawa was one of the fastest growing cities in Ontario from 2011 to 2016, with 6.6 per cent population growth, second only to Guelph at 7.7 per cent. This, after growing 7.7 per cent from 2006 to 2011.

Importantly, for prospective home buyers, transportation improvements such as expanded GO Transit and the Hwy. 407 extension make it easier for people to live in Oshawa – at cheaper home prices – and commute to work in other areas such as Toronto. Another extension of the 407 eastward to neighbouring Clarington is due for 2020, further easing transportation options.

New home opportunities

Tomorrow, we’ll explore some of the opportunities to buy new homes in the Durham Region.

 

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