Rural Caledon just like any other town has real estate as an integral part of its economy. The functions of real estate as part of the market have several elements in it. However, one of the major roles that real estate plays in rural Caledon is ensuring that there is enough income within the community. At this point, you may not actually understand how this is possible. Nonetheless, it is beyond any doubts that real estate plays the major role in this rural town in Ontario.
Taking a closer look at housing for families, you may agree that this is one of the areas where real estate makes most income. Normally, every family strives to have a sustainable housing plan that will make them lead comfortable lives. As such, it is common to find most of the residents contacting the real estate realm to purchase and sell houses or even build new ones. By so doing, the economic standards of the area are uplifted. This increases circulation of cash in the market which increases the purchasing power of the locals. There are those who are employed as workers, those selling and buying homes plus other traders who benefit from this.
Something else is that Caledon is a rural town in Ontario. However, it is growing significantly faster, a scenario that is attracting many investors. Therefore, many people are willing to put up homes or buy ready made ones in anticipation for the future growth in the town.
Business trends are also playing a major role in the economy of rural Caledon in relation to real estate markets. There is always need for commercial real estate. People need space for retail shops, put up offices, including the manufacturing industry. Much as it goes unnoticed to many people, most of the expansions and constructions bring about income to thousands of the locals. By doing so, you can directly conclude that real estate in Caledon is one of the fields that provides most revenue sources to the community.
If you are still not convinced, let us consider the fact that Caledon is a fast growing town. This is an indication that it is a prospective place for investors. Investors will need space to put up their enterprises apart from the fact that they will require decent housing. Consequently, the local real estate industry is working round the clock to ensure that all the requirements are met.
The construction of housing units began in 2006 in Caledon which has seen a total of 1900 housing units completed. Between 2006 and 2011, each year recorded an increase in the construction activities. However, the upward trend stopped in 2012. Housing statistics recorded a drop of 12.6%. The downward trend persisted into 2013 which has so far seen only 340 units done. This is a down by 11.2% from the previous year of 2012 at the same time.
Nonetheless, Caledon is believed to be the smallest apartment rental market in the entire GTA. As such, some of the vital income and resource information regarding real estate is missing.