The West-end of Guelph has always held a special place in my heart. It’s where I’ve lived most of my life, so naturally I favour this part of town, but from a real estate perspective I also believe the value in the West end can be unmatched compared to anywhere else in the city. Not everyone wants to live in the West, so for the people who do want to live here the home buying process can be much less competitive than other areas of the city and prices tend to be something more people can afford.
Now if you’re in the market for a reasonably priced townhome and you’re not too fussy on which part of town you live, I would say the West end should be one of the first places you start your search. Price per square foot is way down compared to other areas of the city, such as the South, and with everything the West end has to offer like schools, parks, trails, banks, accessibility to the Hanlon, and a booming commercial retail centre (can’t leave out the new Costco!) I would say the West end is worth some careful consideration.
So, keeping in line with my number-crunching blogosophy, I felt it was only right to compile some data about the West end, specifically looking at townhomes that were sold on MLS over the past 5 years.
Let’s look at some data.
You can see from the data the price per square foot has steadily risen since 2010. As a comparison, based on the data I’ve compiled from previous blogs, in 2015 most townhomes in the South end of Guelph would have run you around $240 per square foot, whereas you could have bought something in the West end for around $200 per square foot. Not a bad deal if you don’t mind the extra 6 minute drive down the Hanlon to the 401!
You will also notice the year-to-year average sale price increase seemed to have hovered around 4 – 4.5% for the last 3 years in a row. Pretty incredible considering an initial lower buy-in still performed as well or even better than some of the other higher priced areas of the city. With all of the new development going on in the next few years, and the desirability of location that tends to go with it, it will be interesting to see what these figures are when that time comes.
All-in-all I believe the West end has great value at very affordable prices, and has a very high potential for future value as more and more developments are completed.
Until next time, Happy Investing!