Barrie Rents Are The Sixth Highest Among Canadian Metropolitan Areas

BARRIE, Ontario - April 6, 2014 - PRLog -- Investor interest in the city of Barrie, ON., is expected to rocket if a city proposal to allow basement apartments and in-law suites is allowed.

It is hoped that this move will help lift the region’s vacancy rate which has been hovering around the two per cent rate for some time. Rents in the city are the sixth highest among Canadian metropolitan areas, with a two-bedroom apartment averaging at $1,037 monthly.

Barrie currently has a policy that restricts second suites to multi-residential units, a specific second-suite zone and residential apartment zones created before August 2009.

There are many issues that need to be ironed out by city council officials, the change in bylaws should be implemented within the near future.

“There is a real need and demand for additional housing in Barrie” says Murree. “I believe the focus will be on duplexes and in certain areas of the Barrie so there may be certain locational restrictions.”

There are currently 771 registered two-unit properties in Barrie, many of which are located in the Georgian College neighbourhood as well as Charlboook Avenue and Daphne Crescent.

I have seen several out of town investors investing in Barrie for several years now. For one reason is the affordabilty of the property and strong rental markets and they cash flow.

For more information on Barrie real estate vist http://www.newbarrierealestatelistings.com

Mark Turcotte