In recent years The Hammer has rapidly become one of the most sought-after Greater Toronto Area cities to settle down in. If you’ve been looking at what the Hamilton real estate market has to offer, then you’re probably ready to take a leap of faith and relocate to Ambitious City, which is fantastic! To help you out, we’ve done a bit of research and have come up with 5 things you need to know before moving to Hamilton.
Cooled-off Real Estate Market
Residential prices have more than doubled since 2009, thanks to the fast development of The Hammer. After a considerable spike last summer, the local real estate market has cooled down somewhat. The average residential price here is currently set at $550,000, which is much more budget-friendly than those of other cities in the Greater Toronto Area.
Rental vacancies are currently down to 2.4% due to the high demand for leasing instead of purchasing a property. Chances are you can score a bachelor unit for an average rent of $650 monthly. A two-bedroom property will set you back about $1,100, whilst a three or more bedroom unit can cost up to $1,345 on average per month.
Booming Food Scene
The culinary scene in The Hammer has been growing as of late, drawing a large number of professional chefs from all around the Greater Toronto Area right into the heart of Hamilton. This continuously advancing city offers a wide range of gastronomic delights, from sushi and salads to kebabs and pizzas. To really delve into the local food scene, don’t miss out on Nosh Hamilton, a week-long food festival celebrating the unparalleled variety of The Hammer’s restaurants.
The Ambitious City also features an impressive number of chic cafes, cozy pubs and trendy clubs where you can dance the night away. A large number of live music venues can also be found in the city, which brings us to our next point.
A Penchant for Performing Arts
Hamilton boasts a thriving arts and culture scene, with an emphasis on the performing arts. On every second Friday of each month the James North Art Crawl takes place, when the historic neighbourhood turns into a huge outdoor festival. Performers with all types of backgrounds put on a lively show while the nearby cafes and restaurants stay open late. The city is also home to numerous other venues, including The Factory Media Centre, Downtown Arts Centre and the McMaster Museum of Art.
Numerous communities have been established in the city to support aspiring artists and help them in creating a platform to share their endeavours. The Hamilton Arts and Culture Guide also promotes local artists and their exhibitions to the general public.
Outdoor Lover’s Paradise
Boasting over 3,480 acres of parkland and over 50 kilometres of nature trails ideal for hiking and biking, it’s safe to say that Hamilton is abundant in green spaces. If you’re a lover of the great outdoors, you’ll surely appreciate the lush forests, picturesque waterfalls and serene beaches where you can spend countless hours of rest and relaxation.
The Hammer also boasts quite a few outdoor fitness opportunities, along with inclusive recreation services for individuals with special needs. A number of community-based environmental initiatives also encourage residents to help maintain the outdoor areas.
Beneficial Future Prospects
Undoubtedly, Hamilton has come a long way and aims to continue this tendency of growth in the future as well. With the help of the Our Future Hamilton initiative, The Hammer aspires to further develop the quality of life through six different priorities: community engagement, economic prosperity, a healthy community, sustainability, cultural diversity and a better public transportation system.
Regarding the last of these, concrete plans are already in place for building a Light Rail Transit system in the city. Although public transportation in The Hammer is good, getting around the city will be much easier once the LRT line is built.
All in all, even if Hamilton hasn’t exactly been the most desirable place to live in the past, conditions have improved drastically over the past 20 years and the developments are not stopping anytime soon. If you’re in search of a family-friendly place with an improvement-oriented mindset and huge potential, Hamilton might be the perfect place for you.
