James Armstrong – Global News

Looking to make a good investment? Several Toronto neighbourhoods are among Canada’s top 100 in which to invest in property, according to a real estate magazine.

The list was published by Canadian Real Estate Wealth, a magazine dedicated to investing in real estate across Canada, and lists each neighbourhood by how much its real estate market is expected to grow.

And what is the best neighbourhood in Toronto to invest in property? Willowdale.

“Willowdale hasn’t experienced the growth that other neighbourhoods in Toronto have, not yet,” Olivia D’Orazio, a staff writer with the magazine said.

“As inventory in Toronto does decrease, people in Toronto are going to be looking outside of the major trendy neighbourhoods for places they can grab for low and either flip or rent out, or sit on that property until it does appreciate.”

The average price of a home in the northeast Toronto neighbourhood is $417,250 and is expected to grow by 1% over the next year. The population in the area is expected to grow by 6% according to the magazine.

But this isn’t the typical ‘hot neighbourhood’ list that ranks trendy neighbourhoods. Instead, this is for the investor looking to make a profit.

Comment: Why would you buy there with a 1% annual increase, when “trendy” neighbourhoods see 10% growth? That is just stupid.

The magazine analyzed several factors in creating the list including population growth, the median price of homes, price growth potential, average rents, renter profile, and the local economy.

One of the areas where home prices are expected to climb is Parkdale.

Parkdale, the magazine reads, is loved by renters for the neighbourhood’s “relatively” low rents and investors for its lower property prices.

Comment: Say what now? Parkdale prices are no longer low. Five years ago was the time to buy, or even further back. But now? Nice Victorians are already $1 million. Too late.

But David Bailey, a real estate agent for Remax, said residents in the area flock there for other reasons as well.

“You’ve got Queen West, you’ve got the proximity to Liberty Village, you’ve got transit, you’ve got the lake, you’ve got these old houses. The size, you don’t get these houses in other neighbourhoods.”

The average price of a home in the neighbourhood is $463,339 – far less than the $661,567 for a single-family home in Toronto.

Comment: Where are these numbers coming from? Detached houses are in the $950,000 range and semis over $700,000. There aren’t many single-family homes for $661,567…

And according to Canadian Real Estate Wealth, prices are expected to increase 6% in the next year.

“A lot of people are coming to Parkdale because they can’t necessarily afford some of the other areas,” Bailey said.

There are several other Toronto neighbourhoods on the list as well, including Etobicoke, Richmond Hill, Dovercourt Village, and Rouge River.

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Contact Laurin Jeffrey for more information – 416-388-1960

Laurin Jeffrey is a Toronto real estate agent with Century 21 Regal Realty.
He did not write these articles, he just reproduces them here for people who
are interested in Toronto real estate. He does not work for any builders.
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