With new low-rise supply hitting record lows even through the typically busy spring season, areas on the outskirts of the Greater Toronto Area (GTA) are starting to heat up as homebuyers seek more options. Durham Region in particular has seen a spike in housing sales and prices!
The average home price in Durham went up 42.5% compared to last year, Brenda Seymour of Sutton Group Heritage Realty told eieihome recently. She’s been a full-time realtor in Durham since 2007 so she’s experienced a decade of change in the area.
“I have noticed an influx of properties being purchased and listed to rent in South Pickering and South Ajax communities,” says Seymour. “Many investors feel that these areas have the best potential return on investment given their proximity to the lake. Some speculate that these areas could be the next Oakville.”
Just like in Oakville, places like Pickering, Ajax, Oshawa, and Whitby are starting to see multiple offers on homes and more bidding wars. The lower prices in Durham, relative to Toronto, Peel, York, and Halton are attractive to investors and families looking for more space to raise their children.
It’s really not surprising to see Durham real estate heating up. There is plenty of greenspace, convenient amenities like schools and grocery stores, annual/seasonal festivals and markets, and Pickering, Ajax, Whitby, Oshawa, and Clarington all have extensive waterfronts. Plus, the commute to Toronto via Highway 401 is quick and straightforward.
Whitby Meadows by Arista Homes, DECO Homes, Fieldgate Homes, Great Gulf, OPUS Homes, and Paradise Developments
Whitby Meadows is probably one of the largest communities to launch in Durham this year. Six builders have teamed up to release a wide selection of homes, including freehold townhomes, semis, and 21’, 24’, 30’, 36’, and 42’ detached homes. There will be more than 180 floor plans and more than 300 elevations from which to choose! The New Home Marketplace, featuring all of the new home options, is scheduled to open this year.
New Pickering townhomes by Geranium
This one’s still in the early phases, but what we do know is that Geranium will be bringing new townhomes to Pickering in the Rouge community, nestled next to Rouge Park and Altona Forest. Geranium is known for their innovative approach to low-rise housing, so register today!
This is a successful community in north Oshawa. Midhaven Homes will be launching Phase 3 this spring/summer. Phase 3 features bungalows and two-storey 30’ and 40’ detached homes at Wilson and Coldstream Drive. Register for Phase 3 of Breeze now!
This is only three of many new low-rise sites planned for Durham. We expect to see more new Durham communities popping up in the fall and into 2018!