Hamilton now has a hotter real estate market than Toronto

Hamilton might be the waterfall capital of the world and also a great escape for those looking to get away from Toronto for a little while, but those hoping to head to Hamilton in search of a more affordable house might want to consider moving quickly.

That's because, as the Hamilton Spectator reports, the city is now the hottest housing market in Canada in regards to escalating real estate prices.

According to the RE/MAX annual Housing Market Outlook Report, the average residential sale price in the Hamilton-Burlington area has gone up nearly 20 per cent.

The report notes that many first-time buyers from other parts of the GTA head to Hamilton in search of properties because it's still much more affordable than Toronto.