Sudbury has some of the cheapest recreational housing in Ontario, according to a new report from realtor Royal Lepage.
Royal Lepage looked at the average prices for different types of recreational properties in 14 regions of Ontario in its 2016 Canadian Recreational Housing Report.
Sudbury had the lowest average price for lakefront property, at $230,000. The southern Georgian Bay region had the highest average price at $845,000, followed by Muskoka at $790,000.
Sudbury also had the lowest average price for riverside properties, at $210,000. Niagara-on-the-Lake had the highest average riverside property prices at $700,000.
“Despite a slower start to 2016, Sudbury’s recreational property market is stable,” said Alex Dumas, a broker with Royal LePage North Heritage Realty, in the report.
“While prices and inventory levels have remained the same, sales have increased slightly when compared to last year.”
Dumas said typical recreational property buyers in Sudbury are couples between the ages of 36 and 51.
“They see these properties as an investment, and some day hope to retire here,” the report said.
Property values can vary by as much as 10 per cent from lake to lake in the Sudbury region, the report said.
