Most Common Types of Homes Sold in Guelph

Strong Demand for Single-Detached Homes

Within Guelph, single-detached starts (new home construction) will increase in late 2015 before declining in 2016 and 2017. This is due to the strong demand from buyers from the GTA (Greater Toronto Area) find Guelph more of an affordable market. With this rise in demand, prices will also rise, leading to a very competitive and pricey market. Buyers will opt for the development of new homes, and the prices of these newly completed homes will increase by more than 5% in 2015.

Townhouse Development Surges with Rise in Demand

There is a strong demand for affordable homes within Guelph, leading to doubling the amount of townhouse development. Townhouses are also a denser form of housing, which is aligned with the City of Guelph’s targets.

Apartments

Apartment developments will be lower until all current units are sold. Several new projects are already being planned in the meantime. Price growth in the new and resale markets will continue to support demand for affordable high-density housing. Newer apartment developments were targeted at students, despite the slowing growth for Guelph’s student population.

Key Takeaways

• It is clear that single-detached homes are the most common types of homes sold in Guelph.
• With the rise of GTA buyers looking to more affordable housing in Guelph, brand new developments of single-detached homes have sparked (growth of 5% over 2015).
• Due to the mass demand of these single-detached homes, buyers have looked to alternative affordable housing options.
• You may have to look for alternative modes of housing if competition is too fierce. See below for a chart showing the number of starts (new developments) over the years in Guelph.

This article was written by a fivewalls writer. fivewalls has a database of over 150 real estate agents profiles in Guelph, KW and London with thousands of independent reviews. We believe that people should be able to research agents before choosing one to work with.

Sources: Canada Mortgage and Housing Corporation