Cambridge properties attract Toronto home buyers
Jennifer K. Baker, CTV Kitchener
Published Saturday, September 17, 2016 7:18PM EDT
Last Updated Saturday, September 17, 2016 7:22PM EDT
Home prices in Toronto and surrounding areas have reached an all-time high.
That’s why some people are now looking to buy properties outside the GTA.
On Saturday dozens of realtors from Brampton, Mississauga and Toronto came to Cambridge with their clients who are hoping to buy a property off Limerick Road.
“This is an exciting area and the prices are good here,” says Sandeep Mohan, of World Class Realty Point Brokerage.
Mohan was one of several realtors who began lining up on Friday.
“The hope was that I would be the first few ones, but when I got here I was the 15th. People have been standing here since yesterday at 11 o’clock in the morning.”
The average price of a home in Cambridge is under $400,000. But the local real estate board says housing prices are on the rise. A lack of inventory and out-of-town buyers are just two factors being blamed for the increase.
World Class Realty Brokerage has been given exclusive rights to sell 120 townhomes by Crystal Homes. The brokerage says a total of 400 homes will eventually be built off of Limerick Road.