MoneySense has released its expanded Where to Buy Now survey that uncovers the top real estate markets for buyers in Canada. This year’s ranking covers the top 35 cities in the country and goes block by block in nine major cities to rank almost 2,000 neighbourhoods.
In Toronto, the best neighbourhood to buy real estate in is Pleasant View, where the average home price is $891,000. That’s followed by East End-Danforth ($824,300), Victoria Village ($965,200), Regent Park ($817,900), and, in fifth place, Parkwoods-Donalda ($1,182,900).
The best neighbourhood in the GTA is North Richvale, in Richmond Hill, where the average home price is $954,500. Markham’s Cornell neighbourhood is next ($695,700). In third is Crosby, in Richmond Hill, where the average home price is $1,036,400. Aurora Grove (yes, in Aurura), has an average home price of $708,700. Finally, Rouge River Estates, in Markham, has an average home price of $926,500.
The best city in the country for real estate investment value is Guelph, MoneySense editors concluded.
“Strong economic growth from manufacturing and agriculture helped keep the housing resale and rental markets strong,” MoneySense said. “And the red-hot Toronto market is convincing some buyers to relocate and make the commute to work.”
The Where to Buy Now ranking is based on MoneySense’s own proprietary metrics, including:
- momentum in recent real estate transactions,
- real estate value relative to nearby cities or districts,
- health of the local economy,
- price level of local rental markets, and
- a survey of real estate agent experts on markets.
Find the full ranking, visit MoneySense.ca.
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