Things to know, Trends

Top neighbourhoods to buy in GTA (2018-2019)


Posted by .

Choosing where to buy a home is an intensely personal decision, but gut feeling alone shouldn’t guide the biggest financial decision most of us will make in our lives.

For most Canadians, housing is both their largest asset and their largest source of debt. Whether you’re an income property investor or just looking for somewhere to raise a family within reasonable commuting distance to work, it’s important to think about how homes in the neighborhood you pick are likely to appreciate over time compared to their peers.

How we do it

To identify the top neighborhoods we start by looking at value, using average housing prices provided by local real estate boards across the country. To be clear, when we say value we aren’t simply looking for the cheapest areas. Cheap prices alone could be indicative of neighborhoods mired in social problems, or that lack amenities and offer little in the way of a return on your investment.

Instead, we’re looking for relative value, when a neighborhood is more affordable than areas nearby. We measure this by comparing the average home prices in each neighborhood to prices in the surrounding area.

Next we scour each market looking for areas where homes are appreciating faster than in other parts of the city over the past one, three and five years. With this data we’re looking for signs of sustained price gains which can uncover an area that is in greater demand. The stronger the overall appreciation, the higher these neighborhoods ranked in our list.

Our ranking of cities takes a broader view of the economy and rental market. We incorporate data from a variety of sources — including the Canadian Real Estate Association and the Canada Mortgage and Housing Corporation.

We consider factors such as sales to new listings, the ratio of average income to average housing prices and the local unemployment rate. The top-ranked cities have strong economies, solid rental markets, good value for your dollar and robust price appreciation.

We’ve done the hard work for you, correlating value and price momentum with what realtors think about these neighborhoods. You’ll still have to do some of your own research to find areas that meet your needs, but we hope this narrows down your search area to help you find and buy your dream home.

These are our top 25 picks for the best neighbourhoods to buy real estate in GTA’s inner suburbs.

 

 

Rank Neighborhood Area Average home price (2017)
1 Central Ajax
Average price vs. area- 73.3%
Avg. price vs. metro district- 75.06%
Avg. price vs. outer region- 43.73%
1-year price change- 10.82%
3-year price change- 69.03%
5-year price change- 104.32%
Ajax $476,215
2 Aurora Heights
Average price vs. area- 86.91%
Avg. price vs. metro district- 84.81%
Avg. price vs. outer region- 91.13%
1-year price change- 32.79%
3-year price change- 81.35%
5-year price change-113.88%
Aurora $992,408
3 Village East
Average price vs. area- 78.16%
Avg. price vs. metro district- 98.48%
Avg. price vs. outer region- 57.37%
1-year price change- 22.74%
3-year price change- 68.18%
5-year price change- 91.07%
Pickering $624,770
4 Bayview Wellington
Average price vs. area- 76.24%
Avg. price vs. metro district- 74.4%
Avg. price vs. outer region- 79.94%
1-year price change- 14.8%
3-year price change- 64.89%
5-year price change- 95.9%
Aurora $870,565
5 Heart Lake West
Average price vs. area- 86.58%
Avg. price vs. metro district- 75.56%
Avg. price vs. outer region- 54.68%
1-year price change- 21.54%
3-year price change- 64.56%
5-year price change- 79.51%
Brampton $595,521
6 Queen Street Corridor
Average price vs. area- 96.64%
Avg. price vs. metro district- 84.33%
Avg. price vs. outer region- 61.04%
1-year price change- 33.83%
3-year price change- 77.63%
5-year price change- 103.14%
Brampton $664,688
7 Brampton North
Average price vs. area- 86.07%
Avg. price vs. metro district- 75.11%
Avg. price vs. outer region- 54.36%
1-year price change- 20%
3-year price change- 62.93%
5-year price change- 79.6%
Brampton $591,991
8 Central Park
Average price vs. area- 81.7%
Avg. price vs. metro district- 71.29%
Avg. price vs. outer region- 51.6%
1-year price change- 23.54%
3-year price change- 56.67%
5-year price change- 83.75%
Brampton $561,910
9 North Richvale
Average price vs. area- 89.14%
Avg. price vs. metro district- 101.95%
Avg. price vs. outer region- 109.54%
1-year price change- 27.13%
3-year price change- 75.99%
5-year price change- 106%
Richmond Hill $1,192,907
10 Bay Ridges
Average price vs. area- 86.2%
Avg. price vs. metro district- 108.61%
Avg. price vs. outer region- 63.27%
1-year price change- 28.41%
3-year price change- 64.52%
5-year price change- 83.7%
Pickering $689,013
11 Aurora Grove
Average price vs. area- 81.01%
Avg. price vs. metro district- 79.06%
Avg. price vs. outer region- 84.95%
1-year price change- 12.51%
3-year price change- 73.85%
5-year price change- 104.55%
Aurora $925,075
12 Liverpool
Average price vs. area- 84.85%
Avg. price vs. metro district- 106.9%
Avg. price vs. outer region- 62.28%
1-year price change- 20.33%
3-year price change- 51.7%
5-year price change- 95.97%
Pickering $678,190
13 Heart Lake East
Average price vs. area- 89.1%
Avg. price vs. metro district- 77.76%
Avg. price vs. outer region- 56.28%
1-year price change- 20.12%
3-year price change- 64.83%
5-year price change- 74.55%
Brampton $612,854
14 Brock Ridge
Average price vs. area- 88.09%
Avg. price vs. metro district- 110.99%
Avg. price vs. outer region- 64.66%
1-year price change- 22.14%
3-year price change- 59.45%
5-year price change- 88.74%
Pickering $704,120
15 Town Centre
Average price vs. area- 66.1%
Avg. price vs. metro district- 83.29%
Avg. price vs. outer region- 48.52%
1-year price change- 15.34%
3-year price change- 58.73%
5-year price change- 72.95%
Pickering $528,378
16 Crosby
Average price vs. area- 75.51%
Avg. price vs. metro district- 86.36%
Avg. price vs. outer region- 92.79%
1-year price change- 12.12%
3-year price change- 68.32%
5-year price change- 101.77%
Richmond Hill $1,010,479
17 West Shore
Average price vs. area- 99.55%
Avg. price vs. metro district- 125.43%
Avg. price vs. outer region- 73.07%
1-year price change- 20.51%
3-year price change- 63.27%
5-year price change- 108.97%
Pickering $795,736
18 Downtown Brampton
Average price vs. area- 89.31%
Avg. price vs. metro district- 77.94%
Avg. price vs. outer region- 56.4%
1-year price change- 28.56%
3-year price change- 54.02%
5-year price change- 73.86%
Brampton $614,253
19 Northgate
Average price vs. area- 81.39%
Avg. price vs. metro district- 71.03%
Avg. price vs. outer region- 51.41%
1-year price change- 20.56%
3-year price change- 59.01%
5-year price change- 76.35%
Brampton $559,827
20 Bayview Northeast
Average price vs. area- 90.93%
Avg. price vs. metro district- 88.74%
Avg. price vs. outer region- 95.34%
1-year price change- 16.53%
3-year price change- 74.23%
5-year price change- 101.55%
Aurora $1,038,326
21 Commerce Valley
Average price vs. area- 78.53%
Avg. price vs. metro district- 88.53%
Avg. price vs. outer region- 95.13%
1-year price change- 23.84%
3-year price change- 59.84%
5-year price change- 92.42%
Markham $1,035,939
22 Madoc
Average price vs. area- 84.03%
Avg. price vs. metro district- 73.33%
Avg. price vs. outer region- 53.07%
1-year price change- 19.77%
3-year price change- 59.88%
5-year price change- 72.03%
Brampton $577,990
23 South West
Average price vs. area- 92.11%
Avg. price vs. metro district- 94.33%
Avg. price vs. outer region- 54.95%
1-year price change- 16.61%
3-year price change- 62.38%
5-year price change- 87.66%
Ajax $598,440
24 Oak Ridges
Average price vs. area- 77.48%
Avg. price vs. metro district- 88.61%
Avg. price vs. outer region- 95.21%
1-year price change- 16.23%
3-year price change- 66.29%
5-year price change- 89.79%
Richmond Hill $1,036,870
25 Pottageville
Average price vs. area- 82.58%
Avg. price vs. metro district- 107.7%
Avg. price vs. outer region- 115.72%
1-year price change- 30.92%
3-year price change- 85.78%
5-year price change- 98.84%
King $1,260,190

Source: MoneySense

Smart home buyers rely on ReVa to simplify their home buying process. Find out why!