While recent headlines suggest Toronto’s real estate bubble may be on the verge of bursting, modest gains are still expected in 2019, so at least for the immediate future, the real estate market in Toronto seems solid. While investing in the Toronto real estate market can be pricey, investing in these up and coming areas still seem like a good bet.
Gerrard Street East
Investors say that Gerrard Street East is one of the best areas to invest in, with it being noted that the increasingly gentrified area has seen an influx of storefronts and restaurants within the last few years. Prices are relatively modest compared to the rest of the city but aren’t expected to remain this way for long, especially with an additional transit stop expected to serve both GO Transit and the new subway relief line that’s in the planning stages.
While Leslieville itself has undergone tremendous revitalization, Toronto Rentals states that the eastern part of the area, which straddles Leslieville and The Beaches district, is the next up-and-coming neighbourhood for homebuyers. It helps that the area is well served by Toronto’s Streetcar line, making the downtown core accessible in about twenty minutes.
MoneySense calls West Hill “a steal” for homebuyers. This is a family-oriented neighbourhood in the Southern part of Toronto, and it’s about a forty-five-minute commute by car, and just over an hour by public transit. The average home price sits at about $540,448, a fraction of downtown Toronto prices.
Meanwhile, if you’re willing to consider GTA suburbs, Real Insights pegs Markham as a city on the rise thanks to their booming technology sector. So far, corporate head offices number around four hundred– with hundreds of other tech and science-based companies also calling the city home. As the industry continues to dominate, homebuyers are expected to flock to the region, making it an ideal sector to invest in for the savvy speculator.
Real Insights also lists Vaughn as another potentially smart investment, thanks to changes to the subway line which have made it part of the Yonge-University. Commuters will flock to the growing city, which has also become a hub for large scale office buildings – just another reason why millennials are expected to help propel Vaughn’s momentum.