As the cost of living continues to skyrocket in the GTA, Oxford County is attracting more commuters.
OXFORD COUNTY - Oxford County is the new hot spot for people from the GTA.
Nick Lalli, President of the Woodstock - Ingersoll and District real estate board says they do not have statistics for the migration to Woodstock but he has definitely witnessed an influx of people moving here.
Lalli says as house prices rise there we are the next affordable option.
"They are starting to looking for lower prices that are within easy reach, what we would call commuting distance, so they start seeking those options out - that's a natural thing that happens. We all hear what is happening in the GTA area, that spread to the Guelph, Milton, and Kitchener - Waterloo area."
Lalli says there is no statistical evidence for this claim but he has definitely witnessed an increase.
He says this is beneficial for the area.
"From a business perspective, it is an increase of workforce, an increase of commercial activity which is going to bring some benefits to the people that are already here and are working in businesses."
It is also a positive thing for people who are already in the market because it increases their equity and property value.
Lalli says it is a different story for people have not yet entered the market.
"The best advice you could get is get in the market as soon as possible with whatever you can afford to get into with. Then the increase in value that you are going to benefit from will allow you to move into the next property."
Lalli says we saw similar trends in 2003, when around 30 % of the people coming here were from the east.
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