Barrie rates fourth among Ontario’s top investment cities…….

 

 

 

 

 

 

In its latest rankings, the Real Estate Investment Network (REIN) ranks Barrie behind only Waterloo, Kitchener/Cambridge and first-place Hamilton as an area poised to outperform other provincial regions during the next three to five years.

Hany Kirolos, Barrie’s director of economic development, says he’s not surprised by the city’s position.

“We’ve been continually ranked in the top five cities for investment for the last five years,” he said, “and any solid reinforcement of our investment opportunity in Barrie makes our job easier.”

REIN’s report says Barrie is an attractive community for people seeking the nearness and vitality of a big city, but who want a more laid-back lifestyle. It’s no longer just a recreational area – with its golf courses, ski hills and trails – but has a year-round, diverse economy.

Barrie isn’t just part of cottage country, REIN says; there’s job growth, economic diversification, major transportation improvements and a very aggressive economic development team.

“It’s true. I’ve got a team that’s strongly backed by a number of city departments that continually demonstrate we’re Ontario’s top investment-ready city,” Kirolos said. 
 “We compete hard and fast when we hear about a business development opportunity. But we don’t just wait to hear, we chase, tackle and fact-find every day to find new, less obvious business opportunities.”

REIN says Barrie has become a magnet for not only new residents, but new development and new business. It cites the 2010 addition of 5,664 acres of the former Innisfil land to Barrie, giving the city much-needed space for future development.

These rankings are not based on past or even current performance indicators of how a region will perform in the future, REIN says. Instead the focus is on economic fundamentals that will drive real estate markets in the future and an area’s potential to generate positive annual income.

REIN considers key fundamentals such as if an area’s average income, population and job creation is increasing faster than the provincial average.

It looks at the number of major employers, whether its political leaders have created an atmosphere of economic growth and if its infrastructure is being built to handle the expected growth.

The report also looks at whether an area is attractive to Baby Boomers, if labour and materials costs are increasing and if there’s a short-term problem now which will disappear in the future.

After Hamilton, Kitchener/Cambridge, Waterloo and Barrie, Ontario’s top investment cities are Brampton, Ottawa, Orillia, Durham Region (Whitby, Pickering, Ajax), Toronto, Vaughan and Brantford.

The report is authored by Don Campbell, president of Cutting Edge Research and a founding partner of REIN, as well as Melanie Reuter and Allyssa Epp, both research analysts with REIN.

REIN bills itself as Canada’s leading resource centre for real estate investors that provides investing workshops, services and products for its members. It says it provides unbiased research and economic insights combined with investment strategies and education.

For more information, visit reincanada.com