Caledon is mostly a rural region that comprises smaller communities such as Alton, Caledon Village and Palgrave. Bolton happens to be the region’s most populated and developed as well as one of the oldest where the homes and buildings date back to 1854. This picturesque community is situated neat the Humber River and is just about 50 kilometers northwest of Toronto. It features roughly 26,478 residents in 8,721 households. These numbers are expected to rise with several developments on the way. Even through the many years of progress, this town has remained a secure place to raise a family. Caledon has been repeatedly named by Maclean’s magazine as one of “Canada’s safest cities. It was last seen ranking in the 20th place in 2018. Despite all the progress that can be seen here, nature still remains as a vital part of this rural community. There are a number of nature conservation lands that can be found throughout the region in the form of the Belfountain Conservation Area, the Albion Hills Conservation Park, the Ken Whillians Resource Management Area and the Nashville Conservation Reserve. Bolton has also made nature conservation a part of its municipal policy, thereby manifesting itself in the many kilometers of trails that surround the town. However, there is much more to enjoy here than just nature. Local residents have easy access to the country’s most extensive collection of Group of Seven artwork at the McMicheal Canadian Art Collection in Kleinburg. Bolton is also known for hosting a weekly farmers’ market during the spring and summer along with its annual fall fair in September. Caledon has managed to establish a system of arterial surfaceways to facilitate roadway travel amidst the beauty of this lush forestland which is located where the Niagara Escarpment meets the Oak Ridges Moraine.
List of New Condos in Caledon
Why invest in Caledon real estate?
Despite being the second-largest municipality in Ontario after the city of Toronto with a land area that spreads over 688 square kilometers, Caledon is often an overlooked part of the Greater Toronto Area. Still so, this “community of communities” represents an excellent opportunity for real estate investors. This town has also been named as the fifth fastest-growing community in the Greater Toronto Area out of 23. Caledon is strategically located an hour away by car from the city and contains vast potential waiting to be untapped. Caledon offers competitive tax rates that have already attracted over 1700 companies which include PepsiCo, Husky Injection Molding Systems and Mars Canada. One of the main reasons behind this success is the fact that it is surrounded by a complete network of road infrastructure. Thanks to the list of such distinguished employers, the workers in Caledon are able to earn a median household income of $83,454 after taxes. This is a substantial increase over the national average of $54,089. As a result of this, many of the residents in Caledon are able to own homes that are among the highest in terms of price throughout the Greater Toronto Area. And yet, it is very true that there are currently next to no new condominium developments to be found here. All the same, this trend may yet see a reversal considering 41 percent of local households consist of two residents or fewer, thereby showing that the proliferation of single-detached homes in Caledon has more to do with regional preferences than a rejection of urban-styled residences. Although this town is mostly tempered by its traditions, it is more than willing to adapt to changes in terms of expansion and growth. Local development saw a huge boom in 2015 when municipal building permits and housing starts had hit a 10-year high which resulted in the construction of 2,372 new private houses between 2011 and 2016. Being composed of an affluent as well as an educated workforce that is demographically young, Caledon is ready to take on a future that will more than likely witness a rise in the number of pre-construction condominiums.
Here on the outer fringes of the city, there is a lot of room to grow. Condominiums still remain a new idea in a part of the country with a population density of just 96.6 people per square kilometer; however, developments are already being constructed in the historic downtown core of Bolton. New condo developments are likely to follow, with reputable home builders pioneering the way forward.
There are numerous popular municipal and regional roads that serve Caledon which include Regional Road 50, Highway 10, Ontario 9 and Peel Regional Road 10. Although Highway 410 is the only 400 series highway to serve the region, the surrounding Peel cities of Mississauga and Brampton are well-equipped with robust roadways. This allows for road commutes of approximately 30 minutes and an hour for trips to the Pearson International Airport and Toronto city centre. The residents of Caledon are also taking advantage of this convenient traffic infrastructure by opting to commute to other areas to work. Bus services are still not available in Caledon, although the town had previously made an attempt in 2006. However, the GO Transit operates two bus routes to the town which allows residents to commute to the Toronto city centre in just 90 minutes.
Average Prices of Condos in Caledon
The average resale price for all types of homes including condos in the town of Caledon is currently around $933,869. The average rate of resale appreciation has been seen at 6.4 percent for the past 10 years. The average rental rate currently stands at $2000, which is in addition to a rental appreciation rate of 3.9 percent for the past 10 years. The vacancy rate currently sits at 1.0 percent, thereby making the demand for condos strong here.