Guelph New Condos for Sale
Why Should You Invest In Guelph Real Estate?
Guelph looks to attract no shortage of new residents and homeowners as the city continues to experience massive economic and population growth, driving demand for local real estate.
Expected to reach a population of 170,000 by 2030 and 191,000 by 2041, this 131,000-strong city has already begun preparing for this massive influx. With new home development of medium and high-density units expected to account for half of all new construction by 2041, condominium development is prominently featured in Guelph’s future.
Even as the city continues to rate as one of Ontario’s lowest vacancies for rental properties, the true reason for investing in Guelph real estate is due to the city’s promising economic future. Endowed with a robust mid-sized economy, Guelph has been named as a leading Canadian city for job growth and low unemployment in 2018, boasting a 3.6 GDP growth rate that ranks highest among Canadian cities.
As a result of its diverse economy and prime location in the Greater Golden Horseshoe region, Guelph continues to boom. Much of the economic prosperity driving “The Royal City” comes from the sustained growth of its strong manufacturing sector, averaging annual increases of 5.9 percent over the past five years. This positive growth can be clearly seen in the city’s most significant auto parts maker, Linamar, that looks to create 1,500 new local jobs with a 2018 government fund worth $99 million.
As it is, this distinction as an excellent investment location hasn’t gone unnoticed. Named MoneySense’s top Canadian city to purchase real estate after Windsor in 2019, Guelph also has the distinction of being named one of the personal finance publication’s best places to live;
previously earning a prestigious top-ten ranking, Guelph remains well represented on the perennial list, ranking 128th in 2018 for its low taxes, quick commuting times, and great health care and amenities.
As an affluent community containing top job prospects and homes with excellent return-on-investments, Guelph is undoubtedly a real estate market that real estate investors should definitely focus upon.
Average Price for All Home Types in the City of Guelph in 2019
The average resale price for all home types, including condos, in the City of Guelph for 2019 is around $553,100 - up 6.9% compared to the previous year.
The average rental rate for Guelph is presently $1,500. The demand for housing is still strong here as the vacancy rate currently sits at 1.1%.
City of Guelph
Located 100 kilometres west of Toronto just outside the GTA, Guelph makes for a great place to live due to its many convenient services. And while its existing amenities are already comparable to those found in large cities, Guelph looks to become even better with ambitious plans with far-reaching ramifications.
Founded in the 1820’s, historic Guelph and its many Victorian buildings have developed into a bustling, vibrant cityscape. At its downtown core, Guelph is fully-equipped with numerous retail outlets and services anchored by the Old Quebec Street Shoppes, a two-hundred-year-old shop-lined street that was enclosed and converted into a shopping mall in the 80’s.
As well, downtown Guelph is well-served by city amenities that include the Sleeman Centre, a 4,174-seat multi-purpose $21-million premier sports and entertainment facility that hosts the OHL Guelph Storm, and the Guelph Concert Theatre, the region’s largest concert and event venue that has hosted acts like The Weeknd, Kim Mitchell, and Billy Talent.
Additionally, city life will continue to improve as the city continues to unveil new local municipal facilities.
South End Community is an upcoming 160,000-square-foot community centre that will will feature twin ice arenas, an aquatic complex, double gym, multi-use program and meeting space. Along the same lines, Guelph General Hospital is expected to expand health care services with a future 4,100-square-foot expansion.
As its top educational facility, the University of Guelph remains an important institution for the city that may also serve as a potentially lucrative real estate investment. With an annual student enrolment of some 27,000, the vicinity around this popular university may serve as a good place for an off-campus student residence.
As well-developed as its urban amenities have become, the city retains a strong link with its natural element. The Speed River flows past Guelph’s downtown core, providing the city with picturesque riverside trails. Not only that, the formation of Guelph Lake to the city’s north by Eramosa has since become the Guelph Lake Conservation Area, ensuring future generations will continue to enjoy Guelph’s excellent forested woodlands.
With an average household income of $98,572, Guelph is an affluent city with a high value of living that has traditionally been a safe city to live in.
Baker District Redevelopment
One of the most eagerly anticipated projects currently in the works for Guelph is its Baker District Redevelopment project. Located along Baker Street between Woolwich Street and Quebec Street, this new 500,000-square-foot development will integrate residential with commercial and institutional space to create a vibrant, walkable community.
Anchored by the new main branch of the city’s public library, this ambitious new project is expected to provide living space for 500 residents and create 190 permanent jobs, helping rejuvenate a part of downtown that plans to increase by 1,000 new residents over the next five years.
Read more about Baker District.
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Accessibility / Getting Around
Served by its own bus transit system and an extensive network of arterial roads, Guelph is a convenient city for travelling around.
Beginning with just 11 routes in 1992, The transit has grown to have 30 routes at present. With a daily ridership of some 19,400, the transit looks to attract more commuters with improvements such as “Next Bus,” a 2007-introduced service that accurately predicted bus arrival times through GPS technology and advanced computer modelling.
The city’s main public transport hub is Guelph Central Station, an inter-modal transit hub that serves some 5,000 bus commuters on a daily basis. Located in the downtown core next to City Hall, this important transfer point began as Guelph Railway Station in 1911, a national historic site, as well as the 22-bay Guelph Bus Terminal.
Here, commuters can catch local connections for GO busses and train, VIA Rail, Guelph Transit, and Greyhound, allowing for trips throughout the city and beyond. A GO Train trip from Guelph Central Station to downtown Toronto takes approximately 100 minutes.
With cars serving as the primary mode of transportation for many Guelph residents, local drivers will find a number of options available to them. The region’s main expressways are Highway 6 and Highway 401, a route that lets local residents reach downtown Toronto in approximately 100 minutes. What’s more, local road infrastructure is expected to receive a number of future upgrades that include widening 3 kilometres of Highway 401 and the 2007-approved extension of Highway 7 from Kitchener to Guelph.
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Questions & Answers
Who are some of Guelph’s biggest employers?
The largest private employers in Guelph include Linamar, Cargill Meat, and Polycon Industries while the city’s largest private sector employers include the city’s school boards, the University of Guelph, and Guelph General Hospital.
How good is the service at Guelph General Hospital?
Even though it serves as the city’s only hospital, Guelph General Hospital is well-known for its excellent service. This hospital was rated as one of the safest when it comes to hospital standardized mortality ratio as well as one of the best in-province for emergency department wait times.
Who is John Galt, and why is he important to Guelph?
John Galt is a Scottish novelist that is credited with founding the City of Guelph in 1827. Galt’s son, Alexander, would go on to become one of Canada’s “Fathers of the Confederation.”
John Galt Day is celebrated in Guelph each year on the first Saturday in August, coinciding with the civic holiday.
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