3 Top Places to Buy Real Estate in the GTA | South CornellOnce upon a time, homebuyers priced out of the Toronto market could move outside the city toward affordable housing. But as immigration increased and more families infiltrated the housing market, prices skyrocketed with no foreseeable end in sight.
Though sales activity dropped off dramatically during the second half of March 2020 due to the initial impacts of COVID-19, the market is back in full swing, according to the Real Estate market by the Toronto Real Estate Board.
To put things into perspective, the average house price for all home types across the Greater Toronto Area (GTA), excluding Toronto, is $1,062,256, a 12.6 percent jump year over year. Meanwhile, the average sold price in Toronto for all home types for August 2021 was $1,070,911.
Since the pricing is nearly similar, the only question remaining is which GTA neighbourhood is best for you?
Canada’s largest and most diverse city, Toronto, is surrounded by every kind of neighbourhood imaginable. The GTA includes 25 municipalities comprising family-friendly suburbs, bustling towns with lucrative job opportunities, countryside settings with metropolitan amenities, each encompassing excellent schools, exclusive clubs, golf courses and lakeside recreation.
The places that make up the GTA include:
York Region to the north: Vaughan, Woodbridge, Markham, King City, East Gwillimbury, Stouffville, Georgina, Newmarket, Aurora, and Richmond Hill.
Peel and Halton Region to the west: Milton, Burlington, Oakville, Halton Hills, Mississauga, Brampton, and Caledon.
And Durham Region to the east: Pickering, Ajax, Whitby, Oshawa, Clarington, Uxbridge, Scugog, and Brock.
The average commute time in the GTA is a little over an hour. But all areas are connected by transit and the 400 series highways. It’s just a matter of what best suits your lifestyle.
We’ve made a list of our top 3 places to live in these regions to make things easier for you when deciding on your move.
1. Markham (York Region) - For young families looking to connect with green space and culture.
Markham is at the top of our list as one of the finest living options in the GTA. Often outshined by Richmond Hill and Thornhill because of their prime location, Markham is the quiet business corner of the GTA. With over 10,000 companies headquartered here and just over 1,500 in tech alone, Markham is making waves as the high-tech capital of Canada. Meaning, not only is there a substantial job base in Markham, but a presence of ancillary services such as schools, hospitals, shopping and much more.
Young families come for the beautiful neighbourhoods and spacious single-family homes in Markham but stay for the city’s vibrant community life. You can find new homes in Markham in almost any neighbourhood, but our favourite Neighbourhood around Cornell Village . Located just northeast of Markham, Cornell has several parks and public attractions to keep you and your loved ones engaged.
South Cornell is the newest development in the Cornell neighbourhood that offers a visionary collection of 28’ and 32’ detached singles intrinsically crafted to last for years to come. If you are planning to move to Markham, this might be the best place for you.
Still not convinced Markham is right? Read a more in-depth blog on Top 10 Reasons To Live In Markham, Ontario .
2. Oakville ( Halton Region) - Established families trading city lights for small-town charm.
Voted by MoneySense as the number 1 best place to live for new Canadians in 2018, Oakville is a popular choice for established families who want access to the Toronto job market without the hefty downtown-living price tag.
Oakville has a thriving retirement community and is known as one of the best places to retire. The city is home to a spectacular waterfront and many opportunities to explore the harbour. Downtown Oakville has over 400 different unique shops and boutiques and many different restaurants and cafés to grab a bite to eat.
Oakville properties are beautiful, especially if you’re lucky enough to snag a spot by the water. However, the city does have an unfortunate reputation that it’s only for the wealthy. And although the rumours arent completely unfounded, with multi-million dollar lakefront mansions, boarding schools, country clubs and tech-geniuses buying up real estate like candy. Oakville can make a lovely home for the middle class too.
3. Whitby (Durham Region) - Enjoy more bang for your buck with big backyards and lakeside living.
Last and certainly not least, Whitby. The ultimate hybrid community that allows residents the leisure of country living connected to the bustle of the city. In 2019 Macleans counted Whitby among the best Canadian communities. And for good reason too.
The relatively low cost of living compared to other areas in Greater Toronto makes Whitby so attractive. Housing is quite affordable despite its ideal proximity to Toronto. On average, property prices go from $769+ which is below the market average for other GTA communities. That, coupled with family-friendly activities, an award-winning marina, walkable streets and backyards large enough to host friends for a bonfire party make for a great investment.
Click Here to Stay up to date with the recent market trends in Whitby .