New Toronto Condos
New Toronto Neighbourhood
This Etobicoke neighbourhood may be one of the best kept secrets in the city. It’s located directly on the shores of Lake Ontario, meaning there’s a lot of potential for waterfront investment opportunities. The region is widely known to be filled with low-rise houses, but as developers continue to look for new opportunities, we’re going to begin seeing more condos coming here. It’s connected to various employment centres by highways and public transit, and it’s also the location of one of Toronto’s many post secondary institutions. It's bordered by Twenty Third Street to the west, the rail line to the north, Dwight Avenue to the east, and of course Lake Ontario to the south.
Over the past year, most of the home sales have been for detached houses, accounting for 60% of total sales.There’s evidence that the trends are shifting, however, with condos accounting for a total of 13% of sales over the same time, and condominium townhouses accounting for 9%.
The average home price in this neighbourhood is $783,704, which can be split up between an average freehold price of $917,147 and an average condo price of $443,211.
This is a growing neighbourhood that saw its population grow by 5.2% in between 2011 and 2016. That number is expected to continue rising, especially as more condos start coming to the neighbourhood. It has a large population of working aged adults, with 46% percent of its residents being in between the ages of 25 and 54.
Beyond statistics, there’s a lot to love about this neighbourhood. It’s one of the few waterfront neighbourhoods in Etobicoke, and while there aren’t many condos in the region yet, there will surely be incoming developments that will take advantage of its location on Lake Ontario.
One of the best prospects of this neighbourhood is Humber College. This is a large post secondary institution, and it has over 150 different programs to choose from. More importantly, its has a yearly enrollment of 83,000 students. All of these students will need somewhere to live, and chances are they’re not currently in a place to buy a home of their own, so why not your investment condo?
Humber offers a unique opportunity compared to the other campuses in Toronto. Most of the other schools have a fair share of condominium and apartment buildings surrounding them, and as we’ve shown, New Toronto is still mostly filled with low-rise housing. That makes condos in the area the perfect choice for students who want to live close to school.
Lake Shore Boulevard bisects this neighbourhood, providing a direct gateway to Downtown Toronto. It allows drivers to get onto the Gardiner Expressway, which is one of the most important highways in Toronto. It carves a path along the city’s lakefront, and also provides access to its most interesting neighbourhoods. You can also transfer onto the Don Valley Parkway from the Gardiner, giving you access to the rest of the GTA.
Public transit users have a few options for getting around the city. They could opt to take the 501 Queen to Humber streetcar westward, which would take you to the Long Branch Loop. From there, it’s only a few steps to the Long Branch GO Station, which can swiftly take you to Union Station in Downtown Toronto.
Another public transit option is taking the 110 Islington bus northward. This bus will provide a direct route to Islington Station, where you can get onto Line 2 Bloor-Danforth. The Toronto Subway system can provide quick access to the various districts throughout the city, and with the incoming extensions, it’s only going to get better.
This neighbourhood is a blank canvas that’s ripe for real estate investment. The market here isn’t as hot as it is in other region in the GTA, but that only means that it’s filled with potential. In addition to its fabulous lakefront location, it has convenient access to a variety of public transportation options. It’s also right next to one of the most important highways in the city, putting the entire GTA at your fingertips. On top of all that, it also has Humber College, which has a large enrollment. This means that students will be looking around the region for rental options, and your investment condo could just be their perfect solution. So connect with us today to be the first to hear of any new development coming to the region.
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