Metro Toronto is always a coveted region for homebuyers who can afford it that is! This is one of those zones dotted with attractive residential neighbourhoods that offer convenient commuting, good facilities and overall safety and security. This is what makes Metro Toronto so popular amongst buyers and investors alike. Sales figures in Toronto went up by a handsome 17% in April 2019, indicating a recovery of the property market overall.
Toronto’s property market may finally be on the road towards further stabilization after a year which majorly saw a prolonged slump. The cooling measures did their job as the authorities intended them to although it did hamper sales volumes overall. However, the basic market dynamics are still healthy and kicking for real estate in Toronto, namely its increase in population, commercial growth, higher immigration, more employment opportunities and higher income. This leads to increased housing demand in turn and prices continue to be on the higher side.
Best places to buy homes in Metro Toronto
- Rockcliffe-Smythe- This is a popular hotspot for buyers seeking detached homes which are located in decent proximity to downtown Toronto. This is one of the highest ranked residential neighbourhoods in recent times and wins brownie points since homes here come with amply sized yards and dedicated slots for parking. It is also located in close proximity to the Stock Yards Village which is the outdoor shopping mall present at Weston Road and St. Clair Avenue. This is a major win-win for residents. Additionally, the 24-hour streetcar line from St. Clair is located nearby along with other commuting routes.
The extension of the LRT line from Eglinton to Keele will boost connectivity even further. This neighbourhood in the western part of town is now one of the most popular places to buy a home in Metro Toronto. This residential community is filled with natural greenery and detached housing units for single families. Mid-income buyers usually look to buy homes in this location. Prices are comparatively lower in this area.
- Humber Summit (W05) – Humber Summit was a former mill zone and had transformed into a resort-esque neighbourhood. There were several middle class housing projects built here which have lent this area its distinct character. The area is home to several Italian communities along with increasing East and South Asian residents. There are several roads passing through this area including Steeles Avenue, Finch Avenue, Highway 401, Highway 400 and Weston Road. There are majorly semi-detached homes in this neighbourhood with attached double and single car garages. Average home prices are lower by approximately 35-40% as compared to several Metro Toronto areas while the GTA (Greater Toronto Area) average pricing is 25% higher as a result.
- Glenfield-Jane Heights- This area has also risen in popularity over the years. Developers have been steadily building new housing projects in the area and social and civic infrastructure have also improved considerably. It is steadily attracting homebuyers on account of its lower prices. There is a sizable immigrant community here including Italian, Spanish and Vietnamese residents among others. There are several semi-detached homes and apartments along with single-family homes here. There are several parks and shopping centres here. Some of the parks include Oakdale, Firgrove, Spenvalley, Stanley and others. The LRT station is expected to be ready by the year 2023 which will boost employment and connectivity alike. One may find homes which are cheaper by a whopping 35-40% as compared to counterparts in the City of Toronto and even 25-30% cheaper as compared to average home prices in the Greater Toronto Area (GTA).
These three residential neighbourhoods have become really popular picks for buyers owing to majorly the affordability factor along with improving transit and connectivity facilities and of course, better social amenities and liveability.