Live, or Looking to Live, in the GTA? See if Your Neighbourhood Rates!

Recently the Canadian Real Estate Wealth magazine released its list of the top 100 neighbourhoods within Canada to live, work, and invest. Taken from an investor’s standpoint, these areado in fact provide things such as large annual capital returns with relatively low-priced real estate. But it’s those great home prices (when comparing within Canada, and within the GTA especially) that has everyone taking notice of this “Top 100” list – investors, as well as homebuyers and homeowners!

The above chart has been created using data taken from Canadian Real Estate Wealth’s magazine numbers, and it shows  the different price points in different neighbourhoods.

  • Markham – $650,000
  • Richmond Hill – $595,000
  • Vaughan – $560,000
  • Whitchurch-Stouffville – $538,888
  • Aurora – $515,000
  • Newmarket – $449,204
  • Toronto – $429,000
  • Oakville – $560,000
  • Mississauga – $410,000
  • Brampton – $383,000

These were the 10 that fared the best in the GTA when it comes to home prices, but Pickering, Oshawa, and even the downtown core of Barrie made the list. But, while the news of so many prosperous areas is good news for those looking within the GTA, some think that the results might be misleading. And surprisingly, one of those individuals is Carl Minicucci, an investment broker in Vaughan (the neighbourhood that made #3 in this list of GTA communities.)

Mr. Minicucci says, “What may be good in my eyes as a real estate investment may not be good in yours. There are a lot of characteristics about Maple that are good but for price appreciation, Maple might not be No. 1 in Vaughan.” He also listed off other Vaughan neighbourhoods that are just as appealing as Maple – Crestwood, Spring Farm, Uplands, and East Woodbridge being just a few.

And, he has a word to the wise investor, too.

“If you’re concerned about the recession,” he says, “you may have to re-evaluate your situation unless you have to sell.”

But the recession’s over, and some people do actually have to sell. And for those folks, whether they’re looking for their next home, or their next investment, these neighbourhoods certainly do hold a lot of appeal – low home prices being the main one.

For those that are looking to jump into the GTA investment pool, Vaughan was also one of the cities that had the highest annual capital growth rate, at about 7.77%. Aurora came out the clear winner in that category though, at a whopping 17% capital growth rate.

Of course, we’ve always known how great it is to live in Toronto, and the GTA. We’re just happy that the Canadian press is starting to realize it too!