Infrastructure development has a significant impact on the real estate market, and Durham, Canada is no exception. As the region experiences growth and development, infrastructure improvements such as new roads, public transportation, and community facilities can influence property values and attract new residents.
One of the most significant infrastructure developments in Durham is the expansion of Highway 407. The extension of the highway has opened up new areas for development, and as a result, property values in these areas are expected to rise. The highway's expansion has also made it easier for commuters to access Toronto and other parts of the Greater Toronto Area, making Durham a more attractive option for homebuyers.
The construction of new public transportation infrastructure, such as the Durham-Scarborough Bus Rapid Transit project, is also expected to have a positive impact on the real estate market. The project will connect Durham to Scarborough, making it easier for residents to access employment and recreational opportunities in the area. Properties located near the transit line are likely to increase in value, making them an attractive investment opportunity.
Community facilities such as schools, hospitals, and parks also have a significant impact on property values. New facilities can attract new residents and drive up demand for properties in the surrounding areas. For example, the construction of the new Oshawa Civic Recreation Complex has already had a positive impact on the local real estate market, with nearby properties experiencing an increase in value.
It's also important to note that infrastructure development can have both positive and negative impacts on the real estate market. For example, while the construction of new highways and public transportation can increase property values, it can also lead to noise pollution and traffic congestion in some areas.
In conclusion, infrastructure development plays a significant role in Durham's real estate market. As the region continues to grow and develop, new infrastructure projects are likely to have a significant impact on property values and attract new residents. It's important for home buyers and investors to stay informed about these developments and work with local real estate professionals to make informed decisions.
Colleen Steffl
Colleen started her sales career with an International News Agency in Europe selling Advertising. She has continued to rise early, dig deep, and built a solid sales career with 15 years dedicated to real estate sales. She has worked in all areas of real estate sales: buyers, sellers, investors, commercial, land development, and new construction.