Where to buy real estate in 2019: York Region, Ont.
Access to good highways, plus plenty of corporate and business development, make Concord, Vaughan, our No. 1 neighbourhood to buy in York Region.
Moneysense.ca
June 4, 2019
Romana King
York Region’s top 3 neighbourhoods to buy
1. Concord, Vaughan
The City of Vaughan is one of the fastest--growing municipalities in Canada, and its Concord neighbourhood, considered the main industrial district, is certainly helping this city to grow.
Concord is the home of Vaughan Mills, one of the largest shopping malls in Ontario, as well as a number of large multi--national and domestic corporations, including Toys “R” Us Canada and Tootsie Roll Industries. All this business development is helping to grow the city and, by 2032, will drive the creation of more than 11,500 additional jobs.
Part of the community’s draw is its access to major highways travelling into Toronto and Barrie, Ont. Plus, the Toronto International Airport is about a 15--minute drive, helping to make the area an international destination for corporate decision--makers.
But what does that mean for residents? For those leaning towards less commuting and more time with family, this neighbourhood is ideal. Homes are almost 50% cheaper than the average in surrounding areas.
2. Sutton & Jackson’s Point, Georgina
As a summer resort harbour located in the township of Georgina on Lake Simcoe, about an hour’s drive from Toronto, Sutton & Jackson’s Point is an easy spot to overlook, unless you’re a celebrity--watcher. Then you’d know that this quaint spot in the northern region of York was once the home of actor Jim Carrey and world--famous musician Neil Young.
These days, it’s a vibrant yet quaint community, where families can still have the corner--store or ice--cream parlour experience.
Average house prices in this community are significantly cheaper than surrounding neighbourhoods--by almost 58%--and significantly cheaper than average--priced houses in the Georgina area or the Greater Toronto Area. What’s better for buyers in 2019 is that the market seems to have corrected in this community. In one year, prices have dropped by almost 61%. That might sound dangerous but keep in mind that the five--year price growth for this community still sits at just over 72%. What this shows is that this community recently got caught up in the crazy price acceleration that gripped the GTA, but has now corrected to reflect the true value that the community still offers. When you combine this with the new developments being built in the area--all low--rise, multi--family complexes--it’s much easier to understand why Sutton & Jackson’s Point rose to the top of the ranks this year.
3. Vaughan Grove, Vaughan
Located just west of Highway 400, between Highway 7 and Highway 407, Vaughan Grove offers a wonderful mix of ultra--luxury houses and great detached family homes on larger lots. There are lots of ravines and trees, despite its proximity to major commuter highways. It’s perfect for any family that enjoys the suburban--style living but want the amenities of a big city nearby.
While this neighbourhood is close to all amenities, a real draw is the Vaughan Grove Sports Park, which boasts large, well--maintained soccer pitches and baseball diamonds (along with bathroom facilities and snack bars).
Homes in this area sell, on average, for just over $1.023--million, which is 23% less than the average price of houses in surrounding communities, and about 25% less than the average house price in Vaughan. Prices have depreciated by 15% in the last year, but the still--impressive five--year 147% price increase means that 2018 correction reflects the “back--to--sane” market conditions that can be expected in most GTA neighbourhoods.
