: 416-465-7527
: [email protected]
MENU
: 416-465-7527
: [email protected]
  • Home
  • Hi. I’m David
    • Want to Know More About Me?
    • What My Clients Have Said
    • Contact Me
  • Sell
    • Why Sell With Me?
    • Selling Your Home in 6 Steps
    • Advice from Real Sellers
    • What’s Your Home Worth?
  • Buy
    • Why Buy With Me?
    • Buying a Home in 8 Steps
    • Advice from Real Buyers
    • Buying Your First Home
    • Should You Buy an Income Property?
    • Find a Home (With My Help)
  • See Properties
    • See My Featured Properties
    • Start Your Home Search
    • Search For a Home by Neighbourhood
    • See Homes in High Park and Roncesvalles For Sale
    • See Homes in The Junction For Sale
    • See Homes in The Junction Triangle For Sale
    • See My Sold Properties
  • My Neighbourhood Guide
    • See All the Neighbourhoods
    • What’s Your Lifestyle?
    • Ex-Burbs
    • Established
    • Urban
    • Emerging
    • Hip
  • Blog
  • Get The Coffeytime Report
  • Home
  • Hi. I’m David
    • Want to Know More About Me?
    • What My Clients Have Said
    • Contact Me
  • Sell
    • Why Sell With Me?
    • Selling Your Home in 6 Steps
    • Advice from Real Sellers
    • What’s Your Home Worth?
  • Buy
    • Why Buy With Me?
    • Buying a Home in 8 Steps
    • Advice from Real Buyers
    • Buying Your First Home
    • Should You Buy an Income Property?
    • Find a Home (With My Help)
  • See Properties
    • See My Featured Properties
    • Start Your Home Search
    • Search For a Home by Neighbourhood
    • See Homes in High Park and Roncesvalles For Sale
    • See Homes in The Junction For Sale
    • See Homes in The Junction Triangle For Sale
    • See My Sold Properties
  • My Neighbourhood Guide
    • See All the Neighbourhoods
    • What’s Your Lifestyle?
    • Ex-Burbs
    • Established
    • Urban
    • Emerging
    • Hip
  • Blog
  • Get The Coffeytime Report

What Are The Best Real Estate Cities in Canada for 2014?

September 17, 2014 | 2014, Hamilton, price appreciation, real estate, Toronto

Sometimes around the middle of February I wish I was not Canadian. Not that being a Canadian is so bad, but I just wish there was somewhere we could go, as a Canadian, to sit under  palm tree all year round. Other that having to take on of all four seasons with winter as the longest, life in Canada offers you a lot of variety. You can live in as big city as Toronto, be tres European in a North American kind of way in Montreal, or you can be a pioneer and head up north to the territories’ boom towns.

In real estate, not all cities perform the same way all of the time. Some cities are cheap, like Windsor and others are unimaginably expensive, like Vancouver.  Regardless of their average price point, each city performs better or worse than others in a given year. In this past year, the bigger cities have certainly pulled ahead in terms of price appreciation compared to other smaller Canadian cities.

And I think we are seeing that playing out throughout the country right now. Places like Vancouver are up in price by 5% whereas smaller cities are not. Regina is down 2.4 % from last year.  Alberta still going fairly strong with Edmonton at 5% and Calgary at 5. 2% year over year. 
In Ontario, the change is different depending on where you live. Ottawa is up a respectable 3.4% But the real price appreciation is here in Toronto, up by 8.9%. And if you own a detached home, you are up 14. 2%

Nearby towns are also doing well like Hamilton/Burlington, up by 7.5%.

So, Toronto is clearly leading the pack this year, with little brother, Hamilton not too far behind. But why are Toronto and Hamilton doing so well this year? Well, for the most part, Toronto is a major city that draws in a lot of immigration with a diverse economy. Big cities continue to grow, and houses in many parts of the city become increasingly more expensive. Will it always be this way? Probably, near most downtown neighbourhoods. Prices may slip at some point, but the big Canadian cities like Toronto are where most of the jobs that have no ties to oil and resources seem to go in this country. Toronto, and cities like Vancouver, almost function as separate economy. The GTA is the sixth largest economy in Canada, and that includes all provinces and the country itself. 
Hamilton is another story. Hamilton’s rise in real estate was a hard won battle. That city has been trying for years to lure in artists and improve their downtown. And I have to give them credit. They did a great job. They have beautiful architecture at a fraction of the price of Toronto. And now we are seeing some of the frustrated Toronto buyers, particularly artists, pursuing a property in Hamilton where there is more space and lower prices. Just how cheap are we talking? Well it depends on your willingness to try more transitioning neighbourhoods. You could find a 3 bedroom house with parking and a garage for under $200K. It’s a 10 minute bike ride to downtown but some of your neighbours will be looking like an extra from Deliverance.

If you are living in Toronto and Hamilton and own a property or two, you will feel pleased with this year’s price appreciation. And you should be. Pat yourself on the back for a good investment. If you are a buyer, don’t worry, the sky is not falling, and those kinds of big increases cannot continue every year, though I believe there is room for price appreciation, especially for houses,  in Toronto and Hamilton in the years to come. 

FIND POSTS BY:

The Latest in Toronto Real Estate, Delivered to You.

Want to know what's happening in Toronto real estate? Signup today, and join 500+ people just like you that are already being kept up to date.

  • This field is for validation purposes and should be left unchanged.

Changed your mind later? No problem. You can easily unsubscribe in one-click. I'll never send you anything you haven't signed up for.

David Coffey, Sales Representative

: 416-465-7527
: [email protected]

Bosley Real Estate Ltd Brokerage

169 Danforth Ave
Toronto ON M4K 1N2

FOR BUYERS

  • Advice from Real Buyers
  • Buying a Home in 8 Steps
  • Buying Your First Home
  • Find a Home (With My Help)
  • Buying an Income Property
  • Start Your Search
  • Why Buy With Me?

FOR SELLERS

  • Advice from Real Sellers
  • Selling Your Home in 6 Steps
  • What My Clients Have Said
  • What’s Your Home Worth?
  • Why Sell With Me?

HAVE A QUESTION? CONTACT ME RIGHT HERE.

Don’t want to fill out a form? You can click here to send me an email or call me at 416-465-7527.

  • Hidden
  • This field is for validation purposes and should be left unchanged.

COPYRIGHT 2023 - DAVID COFFEY | LEGAL AND PRIVACY | WHAT'S YOUR HOME WORTH? | CONTACT ME

MADE BY ARTIFAKT DIGITAL