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4 up-and-coming Toronto neighbourhoods to watch

BT Toronto | posted Tuesday, May 17th, 2016

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May 17th is National Real Estate Day. This is a day for Canadians to come together and celebrate home ownership. Owning a home is important to Canadians, with 101,299 homes sold last year alone, a 9.2% increase over 2014.

In Toronto specifically, there are various options for potential homeowners, with different communities designed to for different lifestyles. However, buyers are looking to confirm that their home ownership is also an investment for the future. Mark McLean from the Toronto Real Estate Board confirms that real estate is a good investment. Getting into the market sooner than later will work to your favour.

Mark McLean has picked out four neighbourhoods in the Greater Toronto Area that deliver the biggest return on investment.

1. The Canary District

This is a brand new neighbourhood with most residential buildings having opened up in the past year. Condos in this neighbourhood are noted for their clean, modern architecture. The Canary District is also within walking distance of the historic Distillery District, which includes many of Toronto’s best dining and entertainment options.

2. Danforth and Main

This once gritty intersection is now booming! Danforth and Main is an up and coming East end neighborhood with a more residential feel. Many of the side streets are lined with bungalows and homes with backyards, making this a great option for homebuyers looking for extra space.

3. Landsdowne and DuPont

Three years ago, there was not much development in this area of Toronto, however, much has changed in recent years due to what Mark McLean calls the “Brooklyn-effect”. Many Torontonians are choosing this neighbourhood as a more affordable alternative to nearby High Park or Roncesvalles. New condos are being constructed, century homes are being renovated, and tons of restaurants are opening up.

4. West Queensway and Islington

This neighbourhood is sometimes forgotten, due to its lack of proximity to the downtown core. However, many large condos and stacked town-homes are being built. The selling point? This neighbourhood is right off the Gardiner Expressway, which makes buying in this area great for car owners.

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