Located approximately 60 kilometres to the east of Downtown Toronto, Oshawa is the eastern anchor to Greater Toronto Area and of the Golden Horseshoe. City’s name is derived from the Ojibwa term “aaz haway,” which means “the crossing place” or just “(a)cross.”
If you’re thinking of buying a condo in Oshawa, you’re definitely thinking in the right direction. This is down to two things: low prices, and Oshawa’s booming economy.
Compared to the rest of the GTA, the condo prices in Oshawa are still on the lower side, making it easier for you to invest. However, every sign suggests this trend will come to an end soon as Oshawa has been at the forefront of the economic growth and development in the Durham region and become one of the fastest growing cities in Canada. The average household income in Oshawa vouches for that. The city recorded the fifth highest income in Canada. This tells a lot about Oshawa as an investment destination.
On the education front, the city is home to many post-secondary institutions. Around 22,000 full-time students studying at three post-secondary institutions – Durham College, Trent University Durham and University of Ontario Institute of Technology (UOIT). Many of these students are going to graduate and take up jobs soon, they’ll need a place to stay, right? With the urban mindset they carry, the sale of condos in Oshawa is bound to rise.
Considering it all, this could well be the ideal time to buy a condo in Oshawa.
The primary thing to be considered when investing in any region is its economy, and Oshawa is faring admirably. Oshawa was Canada’s first centre of the automotive industry, and it has remained Canada’s automotive capital till date. General Motors Canada, the largest employer in the city, has its headquarters in Oshawa.
There is no doubt about the fact that the automotive industry is the leading sector in Oshawa. However, other sectors are also becoming prevalent in Oshawa. The sectors such as advanced manufacturing, health technology, logistics, energy and IT are growing more prevalent in the city. As a result, Oshawa ranked first in Canada for jobs in Canada when compared to 33 cities across the country.
In 2015, with half a billion dollars in construction value, Oshawa broke its previous year’s record of construction value. Moving forward, the growth and development of Oshawa are set to continue their upward trajectory as the government of Canada has identified the Oshawa’s downtown as an Urban Growth Centre.
The stronger the economy, the stronger has to be the connectivity and accessibility of a region. Oshawa doesn’t disappoint you one bit, whether it’s connectivity or public transportation.
GO Transit is responsible for regular bus and train service between Oshawa and other Greater Toronto Area (GTA) and nearby municipalities. The buses of GO Transit serve from Oshawa along the Highway 401 and Highway 2 corridors in Durham Region and to Toronto and York Region. GO Transit buses also provide service from Oshawa train station to Clarington and Peterborough via the downtown bus terminal. Durham Region Transit (DRT) also provides bus transit service in Oshawa.
Oshawa is also home to inter-linked highways that connect it with the rest of the state. This includes Highway 2, Highway 401, Highway 407, and Highway 412.
Summing it all, getting in and around Oshawa is one of the last things you should worry about. Oshawa is beautiful, prosperous, and accessible. The current house prices in Oshawa make it one of the best destinations to invest in.
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