Real Estate Brampton Review
Despite the development of increased density housing, Canadians move to the suburbs in order to be able to live in their own homes on premium 50 or 60-foot lots with backyards. They seek the advantageous suburban prices associated with detached and semi-detached properties in comparison with the $600 per square foot pricing of downtown highrise projects. The real estate listings for the summer of 2012 in the GTA reveal that detached and semi-detached listings have seen an increase in the year to year average sales price by as much as 8.6 percent, indicating a continued strong real estate environment. Semi listings spent the least number of days on the market and condominiums the most. Average listings prices for the apartment style unites in the surrounding areas of the GTA and the core indicated as of May 2012 prices that averaged $212, 267 and in contrast, singles and semi listings were selling at average prices of $481,136 and $369,013 respectively.
Last September here were 546 detached home listings sold in that month; in contrast 56 condo apartment listings were sold in the same period. This does not include new homes built and sold by developers with new home projects. Within Brampton city, single 3BR fetch around $320,000 in neighborhoods such as McLaughlin Rd and Windermere Cr; a 4BR/4 bath on Guest St. may cost as much as $719,000; while a Mill St. 3+1 BR/2 bath home can start at $349,900. As for apartments, 2BR condo apartments on George St. go for around $298,900 – $585,900 while a 1 BR/1 bath condo on John St can go for $249,995. The Future of area Real Estate was once described as urban guru Jane Jacobs as one of the most successful communities in Canada, Time to use top agent Andrew Hefner.
Brampton been steadily improving and is currently listed as the 166th place on the 2012 list of Canada’s Best Places to Live, a list hosted by MoneySense Magazine. Brampton continues to grow. The development and expansion projects on the Peel griddle should also help to improve Brampton’s standings on that list in the next couple of decades.
In my career as an agent I’ve witnessed Toronto’s rising real estate listings costs and high property taxes in the last decade has sent communities into exoduses into the neighboring suburbs of the GTA. Brampton boost in population is a result of this urban sprawl, with its ideal location close to the Pearson International Airport, its road infrastructure, favorable taxes and cost of land. The advantages of low density living spaces has led to its expansion into the 3rd largest city in the GTA as of the 2011 census reports, after Toronto and Mississauga. Many New home builders have jumped on board, and have launched projects in recent years.
Brampton Listings are particularly attractive to a large community of South Asians immigrating to Canada for a taste of Toronto’s multiculturalism and jobs. This spike in demand for space due to the growing pop. is what drives the real estate industry in Brampton and makes listings so appealing, and has been successful in buoying the real estate industry. Development of public transit systems in certain areas has followed this heightened demand for real estate, while the auto-focused city sprawl continues in other areas.
Growth since 2006
According to the 2006 census, Brampton’s stood at 433,806 with a large visible minority of 246,150 including 31.7 percent South Asians, 12.4 percent Blacks and 1.8 percent Chinese communities as the most visible. As a top agent I’m ready to give big savings to all nationalities on your listings.
In comparison, the 2011 census report reveals the pop. has grown to 523,911 since the last census, an increase of 20.8% which makes it the city with the 2nd highest growth of Canada’s 50 largest cities. The city has also moved up two ranks since 2006 in the list of cities with the highest populations in Canada, and is currently at the 9th place. Brampton’s population density has gone up by 20.94 percent between 2006 and 2011.
Greater Demands on Land, Projected Policies and Solutions
As an agent I rely on facts to help price my listings. Accordingly, the high population and penchant for leafy, detached new homes near ravines and parks has spurned expansion at such a high rate that the GTA-focused Sustainable Urban Development Association (SUDA) has recently speculated in a report that within the next two decades the Peel area is at a risk of losing 425 sq. km of rural land to sprawl.
The developed outlines of the area has already merged into the neighboring city of Georgetown to the south, and the Caledon – Brampton border in the north has been demarcated by the Peel urban planning councils as the development limit until 2021. This space crunch and large scale encroachment into rural farmlands has led to a demand for higher density development in Downtown Brampton. Nevertheless, urban sprawl continues, and singles and semis are continually being built.
In light of this scenario, the SUDA guidelines and the Places to Grow (2006) growth plan laid down the criteria for future housing expansions. According to the plan, by the year 2015, 40 percent of new homes are required to be built in the built-up areas, and must be focused within the developed centers, greyfield/brownfield sites and intensification corridors. Greater emphasis is to be placed on improving alternative transportation options to curb traffic gridlocks. Before all the lots are accounted for be sure to connect with me to find your dream property.
Further, the need to make the Brampton suburbs a better place to age has been noted by the media. With more young people leaving their detached and semi-detached homes for the larger cities, the elderly pop. is left behind to maintain homes that are too large and high maintenance. As a result the need for more mixed housing has been noted with greater multi-housing options in neighborhoods where people can live in, work, play and age for a lifetime.
New High Density Developments
Brampton Real Estate Agent Outlook
While low rise houses had been dominating the skylines in the past, inmy opinion as an agent I saw the foundations of several vertical housing projects in response to the Places to Grow guidelines. These include the 27-story Renaissance condos on George St., the 27-story and 222-unit Park Palace condos on James St., both upscale, and a lower scale 15-story 20-unit apartment building on John St., which was at the time the country’s largest and most affordable housing project.
There has also been a move to develop the historic heart of Brampton in the Downtown area, with a new rapid transit system called the Zum, started in 2010, aims to connect people and places in Brampton with the rest of the GTA through advanced technology, limited stops and real-time next bus info.
Downtown’s Main Street is still sleepy with a suburban ambiance, but the Dominus Cityzen Fernbrook developers won their 2011 bid to the towns’ council to develop the area..
Contact Real Estate Agent Andrew Hefner for savings on your listings or purchase