A new study says that niagara has the second strongest economic momentum in Canada right now…
The National Bank of Canada’s new Metropolitan Economic Momentum Index looks at the economic momentum of 20 areas across the country. Niagara came in at number 2 and first-place went to Hamilton.
Kitchener-Cambridge-Waterloo, Victoria, B.C. and Gatineau, Que. came in after Niagara in the top five areas which include six key economic indicators including housing starts, home sales, non-residential building construction, housing prices and employment and unemployment levels.
In particular the study said Niagara’s excellent economic showing is being driven by housing prices that have spiked faster than almost every region in the country and non-residential building investment that’s grown by more than 30 per cent.
Earlier this month, the new Royal LePage house price survey showed that in the last three months of 2017, the average price of a bungalow in Niagara rose 23.5 per cent over the same period the previous year, while the average price of a two-storey home jumped 23.4 per cent.
That was the second highest price increase recorded among 53 markets nation-wide, ahead of third-place Hamilton.
To see the results of the entire study click HERE.
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