Housing as an investment.

By Pepper Parr

October 28th, 2022



The sale of a house on Tyandaga Park Drive is an illustration of what a real estate investment can do for you.

Tyandaga Park Drive

Built in 1975 it sold in August for $1,635,000 when the asking price was $1,699,000 after 17 days on the market.

The previous selling price in October of 2019 was $1,265,000

Prior to that, in July 2017 the property was sold for $965,000

Prior to that the house sold for $255,000 in 1988

Is this kind of price growth sustainable?


Return to the Front page
Print Friendly, PDF & Email

3 comments to Housing as an investment.

  • Keith Demoe

    No, it’s not sustainable. In order to purchase a house this amount… a family/person would require a household income of at least 250k or more with substantial down payment. The average income in the region is far less. Even if two people making 100k each, would not be able to purchase a home, unless they have a large down payment. Home prices will play a role on the rent market and rent will continue to spike. People with low incomes will have to leave the area since it will be unaffordable to live here. Many people who own homes and want the values to stay high (likely most those who voted in election), will start seeing services decline. You cannot expect low income workers who work in city to stay…it doesn’t make sense. The chamber of commerce references there is a shortage of workers, but they also recognize the challenge to live here due to cost of living. It has to change, but we will have to rely on the province to make those changes…this council will not likely address any of these challenges.

  • GBR

    Are you sure about that 1988 price.Looks very low.

  • Grahame A Youngs

    This property was actually on the market for 100 days. It listed for $2,199,000 was then removed 42 days later and relisted for $1,850,000. 41 Days later it was removed and relisted for $1,699,000. It did sell 17 days later for $1,635,000.

    This goes to show that people need to do their homework when buying a home, and use a reputable agent. The homeowner tried to make a profit of about 74% over what they paid less than 36 months earlier (They ended up at about a 30% gain over less than three years). Any reputable buying agent knew that this home was not priced correctly and would have advised their clients to steer clear.

    We tend to blame the government for unaffordable housing and not having enough regulations, Lets not forget we have some greedy homeowners looking to take advantage of a crazy market.

    Check comparables, and find a local reputable Real Estate Agent you can trust.