Robust Economy in Waterloo Region

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Last year’s unprecedented home growth in Waterloo Region reinforced the robust economy and quality of life for those living and working in the area.  The area continues to have a lot to offer, from world-class universities and colleges, to a mix of stable corporate anchors in the insurance, health, manufacturing, and of course our high-profile technology sector. And nowhere is this more evident than along the Ion LRT line (set to open in spring 2018) where over 2 billion in development has already occurred.  This article “Robust Economy in Waterloo Region” first appeared in Perspective which published as a special feature inside The Globe and Mail.

Picking up on the momentum from 2016, the first half of 2017 was characterized by an unparalleled number of home sales. There were 6,549 homes sold in Kitchener-Waterloo and area last year through the Multiple Listing System (MLS® System) of the Kitchener- Waterloo Association of REALTORS® (KWAR), just one percent behind matching last year’s record smashing results.

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Tony Schmidt, president of KWAR says “The quality of life enjoyed living in Waterloo Region has always been at the top compared to many other communities, even though our historical home prices have been relatively affordable. I think this secret is out now, and the activity of buyers from the GTA last year certainly demonstrates this.”

The average sale price of all residential properties sold in the Kitchener-Waterloo area in 2017 increased 20.7 per cent to $467,513 compared to 2016. When you compare that to the average selling price in Toronto of $822,681 last year, it’s easy to see what could be drawing in the GTA buyers.

6 reasons why Waterloo Region is an attractive place to live.

Transportation:
• The Ion LRT service is set to begin running in the spring of 2018. The spinoff development along the line has been tremendous and continues to expand with the recent announcement of mixed-use infill at the former Schnieders factory site.
• Located along Highway 401, and less than 1 hour from Pearson International Airport
• Home of Region of Waterloo International Airport Perimeter Institute for Theoretical Physics

Economy:
• One of the fastest growing areas in Ontario boasting a diverse economy. Everybody talks about Waterloo region’s flourishing tech sector. But did you know that manufacturing accounts for approximately one fifth of our local economy? We’re also really big in advanced manufacturing, food processing, business, finance and education.

Education:
• Two world class universities and a college: University of Waterloo,Wilfrid Laurier University, and Conestoga College Institute of Technology and Advanced Learning.

Location:
• Conveniently located along Highway 401 and 70 kilometres west of Toronto, we’re also close to many US cities

Quality of Life:
• Live music & festivals throughout the year, great restaurants, breweries, an active arts community, symphony orchestra, an OHL team, sports fields, parks and arenas provide for an active lifestyle no matter your interests

Lifestyle options:
• Is it the city life or country life for you? There is lots of choice in Waterloo region which is made of three cities: Kitchener, Cambridge, Waterloo and four townships: North Dumfries, Wellesley, Wilmot and Woolwich.

Read the full Perspective Waterloo feature here.