First of CBC Hamilton’s four-part series on the city’s housing market
By Samantha Craggs, CBC News
For seven years, 446 Dundurn St. S. didn’t get much love.
It’s a large brick house built in the early 1960s, a former duplex in the Kirkendall neighbourhood. It went on the market a couple of times in the past decade, sometimes for as low as $105,000. And still, no one bit.
Last year, developer Greg Hart bought it for around $200,000. Today, the house that sat vacant for seven years is expected to go for about $600,000.
Such is the strength of Hamilton’s booming real estate market. Ten years ago, houses in this quiet neighbourhood near trendy Locke Street sold for an average of $186,267. Today, the average sale price has nearly tripled to $317,089.
Hart probably wouldn’t even have bought the Dundurn place 10 years ago, he said, let alone put five months of renovation work into flipping it. But times have changed.
Article and image source: CBC Hamilton