Go Where GO Transit is Going
According to Metrolinx, construction will begin this year or next on the GO expansion program, which will offer additional service, faster trains, more stations and convenient connections to a regional transit network. This 25-year, multibillion-dollar project also offers tremendous opportunities for residents in the Greater Golden Horseshoe area, as
well as investors looking to add lucrative real estate to their financial portfolios. Historically, homes and condominiums that are situated close to GO Transit increase in value exponentially over those located farther a way. The smart approach for investors is to watch for where the GO is going — and invest before it gets there. Investors often think of areas in Toronto where people will want to live but pay less attention to regional economies where people are commuting from the city to outlying areas such as Kitchener-Waterloo to work. In fact, GO extension to
London began in October 2021 through a pilot program providing day service to Union Station via London, St.
Marys and Stratford. In addition, this service uses the existing VIA rail line to connect to the Kitchener GO line and has attracted an estimated 25,000 new riders. Commuting from London to Kitchener via GO train is now a convenient reality. West Hamilton Harbour is another up-and-coming area benefitting from infrastructure investments. The expansion has increased the number of trains from 40 per week to 250 each week, day trips to Union Station with hourly service. This is paving the way for frequent service to the Niagara region. Another phenomena l example is the City of Barrie, where home values have skyrocketed over the past 15 years. With downtown Toronto only a one-hour GO train ride, and trains to Union Station every 15 minutes, Barrie to Toronto is a reasonable commute. And 33-foot detached homes in Barrie that once cost in the high-$300,000s a decade ago now go for over $1 million. Closer to home, Brampton is also receiving day service to Toronto, and the Milton and Richmond Hill lines will offer up to 30 per cent more service with the expansion. The announcement that Milton will receive expanded GO service has led to an increase in price per square foot. If you are an investor or a builder looking forward, think of how well those have done who purchased land and/or condominiums close to subway lines in Toronto years ago. Watch where the GO
expansions are going in and make your move sooner rather than later.