• Real Estate Photography, Videos, Tours, Printing & Design - Toronto, GTA & Surrounding Areas

Posts Tagged :

Ontario real estate

Toronto’s Ritziest Neighbourhoods

 150 150 Nisha Muire
By:
0

Luxury living in Toronto is not hard to find. In fact, when it comes to posh places to reside in Canada’s bustling metropolis there are a number of hot spots from which to choose. With the cost of Ontario’s real estate market reaching ever new heights every year, the criteria for luxury living must take into consideration more than just the cost of housing – which could otherwise skew statics. The ritzier communities have an overall higher average household saving and overall higher average wage than in other neighbourhoods. The communities also tend to be closer to the city core and are mature spots that feature country-like environs. Here we will discuss the three most luxurious areas in Toronto according to the average household net worth, the average annual income and the average house price as compiled by Canadian Business Magazine and surveyed by Environics Analytics.

 

  1. York Mills – Windfields

 

Despite its industrial past, the York Mills area is the most affluent neighbourhood in the city. Today, the community boasts businesses and residential properties nesting together in a charming and serene natural setting. The area’s beauty is dissected by the main arteries of both Yonge Street and Bayview Avenue, which lead direct to the city center. Offering easy access to the downtown core, proximity to businesses and lifestyle services, it is clear why York Mills is a magnet for those wanting a suburban lifestyle, but with an easy commute to all that the city has to offer. Here is how the statistics breakdown for this community.

 

Average Household Net Worth: $21.55 million
Average Annual Household Income: $1,212,275
Average House Price: $3.40 million [i]

 

  1. Forest Hill

 

Forest Hill is another very popular area with those who want luxury living. Forest Hill has a long history and plenty of character to go with it. Divided loosely into the upper and lower sections, with the very picturesque Forest Hill Village being located in the upper part of the community, the neighbourhood’s homes are grand manors designed to impress with their custom architectural elements and impeccable landscaping. High-end shopping, fine dining and good schools are all part of the prestigious package found in this elite area.

 

Average Household Net Worth: $10.63 million

Average Annual Household Income: $629,972

Average House Price: $3.18 million[ii]

 

  1. Lawrence Park North

Lawrence Park North does not just earn its rank as the third most prestigious area to live in the GTA because of the wealth it holds, it is also considered one of the best because of the friendliness of the community and supportive atmosphere created by its residents. According to an article published in The Star, the neighbourhood scored a 92.05% on criteria including health, education and walkability[iii]. In the same article, Councillor Jaye Robinson is quoted as saying that the neighbourhood’s sense of community is inspiring to witness.

Average Household Net Worth: $10.44 million

Average Annual Household Income: $906,266

Average House Price: $2.81 million

[i] //bit.ly/1rWMqPe

[ii] //bit.ly/1yU40CT

[iii] //on.thestar.com/1yUe0fC

Canadian Housing Market Outlook 2015

 150 150 Chris
By:
0

Real estate in Canada has seen steady growth for many years now. The Canadian real estate market has defied global trends by outperforming markets in other countries year after year. Even after subprime mortgages led to the near collapse of the US housing market in 2008[1] and the dire predictions that Canada’s real estate sector was sure to follow, we continued to post gains in our residential property market. The strength of our real estate sector is due in large part to continued low interest rates, a mortgage market largely insured by the government-funded (taxpayer funded) CMHC and stricter lending practices than in the US. However, according to many experts, the gain train might be slowing. In 2014 the global residential property market was uneven with countries either showing growth or softness depending on the nation’s economy. Canada is one of the countries that came out ahead in this respect, posting housing price increases of 6% year-over-year. While this is a reflection of the country’s average increase, it really is an expression of the strong gains seen in the prime markets of Vancouver, Calgary and Toronto[2]. Short-to-Medium Term Outlook The short-term outlook for the Canadian housing market including the Toronto residential property sector remains rosy but cautious as talk of rising interest rates might dissuade first time buyers from entering the market. However, as interest rates have not yet started to rise, it is likely that those who want to get into the real estate market before the rates increase will do so in the short term. As Toronto is one of the country’s most expensive housing markets, it can expect to see a growth of less than 3%[3], which is less than half of what is projected for the rest of the country. However, given the cyclical nature of the property market, experts are expecting that the upward trend will start to slow and the sector will enter a downward phase in the medium-term. According to Scotiabank’s Global Real Estate Trends Report published on Oct. 9, 2014: “We expect home sales will slow in 2015 and beyond alongside a gradual upward drift in borrowing costs, tempering new and resale prices over the next several years.” While Toronto’s property prices are considered to be stretched in the metropolitan areas, the suburbs and the larger Ontario real estate market have a more moderated outlook as valuations have not yet been saturated by accelerated growth. However, given the attractiveness of living in the urban centre and the desire by many new home owners for a shorter commute to their workplace and a distinct trend in leading a “green lifestyle” by living and working within walking distance of all services, don’t expect housing prices in Toronto’s core to drop by very much either in the short term or the long term. [1] //bit.ly/1y55APD [2] //bit.ly/1z9uEad [3] //bit.ly/1z9uEad

Toronto Real Estate

 150 150 Nisha Muire
By:
0

Toronto real estate is one of the hottest commodities in Canada. Despite years of negative predictions from economists as to the sustainability of the Ontario home sale market, housing sales have defied the naysayers and continued their upward trend. With interest rates persisting at record low levels, greater numbers of first home buyers are able to join the ranks of proud home owners. The demand for housing has fueled a thriving and profitable market that continues to expand. Naturally when it comes to home buying and selling, consumers have a lot of questions that need answering and require a lot of guidance – especially if new to the game.

Imaginahome has been an integral part of the Toronto real estate industry for over a decade now. We have watched the housing market grow and change from the inside. We have access to information and professionals who can answer any question you might have. We realized through our daily contact with agents and home buyers and sellers that there is a real need for information regarding Ontario housing and so we have decided to share our knowledge and insight with you.

We will begin by posting bi-weekly articles related to the Ontario real estate market. We will discuss everything from buying your first home to flipping your fifteenth property to creating a realistic budget so that you can easily maintain the lifestyle you desire even after purchasing your residence.

Topics that we will cover include:
– Different Neighbourhoods
– Home Buying
– Home Selling
– Real Estate Trends
– Home Renos
– Creating a Green Home
– Landscaping

And so much more… As we move forward, we will also add a section where you can Ask An Expert; where you will be able to ask a realtor your question and we’ll get a Toronto real estate industry professional to answer for you. We’ll also post interesting news related to the real estate market in Toronto and the rest of Canada. In short, if it affects you – you’ll know about it!

We are excited about sharing what we know with you. We enjoy all things real estate and we are thrilled to be a in a position to help others. So, visit us often for the latest news and articles. Don’t forget to leave us comments so we know what you think and how best to serve your needs.

– The Imaginahome Team