Guelph the best place to buy real estate in Canada

Guelphhasranked 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 purchasesand the real estate value of cities close by like Brantford, which came in third spot, andKitchener, 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.

"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 jobscreated by those industries.