Guelph the best place to buy real estate in Canada

A health economy makes the City of Guelph a great location to purchase a home according to the latest cross-country ranking by Money Sense magazine.

Growth of jobs in manufacturing and agriculture take some credit

The criteria for the Money Sense magazine's choice includes the health of the local economy, momentum of real estate purchases, and the real estate value of cities close (Kate Bueckert/CBC News)

Guelph has ranked the top city in Canada to buy real estate, according to Money Sense magazine, an early gift of sorts ahead of the 190th anniversary of its founding on April 23.

The magazine makes its decision based on the health of the local economy, momentum of real estate purchases and the real estate value of cities close by – like Brantford, which came in third spot, and Kitchener, Waterloo and Cambridge which came in collectively at fourth spot.

Barbara Maly, the Manager of Economic Development Services at the City of Guelph, said a number of factors are credited with the rise in both the residential and commercial/industrial real estate market.

"[We're] seeing a lot of business expansion where businesses want to stay in Guelph," said Maly.

Maly also points to the city's low unemployment and low vacancy rates.
Barbara Maly, the Manager of Economic Development at the City of Guelph says manufacturing and the agri-food sector is seeing job growth. (photo provided by the City of Guelph)

"People know there are jobs waiting here in Guelph and that's also driving a number of people to live here, work here and play here."

She says manufacturing and the agri-food and agri-innovation sectors are seeing growth, with many spin off jobs created by those industries.