Why invest in Milton Real Estate?
The town of Milton is located 4 kilometers west of Toronto along Highway 401. Although it is a small town with a population of 110,000, it can be easily mistaken for a mid-sized city thanks to the abundance of great institutions and facilities here. Featuring a downtown that is equipped with a Go Station, Milton is catered to by crucial retail centres which include the Milton Crossroads shopping plaza along with expansive municipal facilities which include the Milton Sports Centre and the Milton Leisure Centre. In addition to being the host of the Milton Sports Hall of Fame, the $39-million 500-seater FirstOntario Arts Centre Milton and the Halton County Radial Railway Museum, this town also houses the Mattamy National Cycling Centre, which is the first-ever Class 1, UCI-regulated indoor velodrome in Canada.
List of New Condos in Milton
Why Buy New Condo Developments in Milton?
As the fastest growing municipality in Canada between 2001 and 2011, Milton looks to undergo yet another golden era of development. This rising town of the future is gifted equipped with strong transportation options and new initiatives that is open to new condominium and townhome developments. Under the guidance of community engagement initiatives such as ‘We Make Milton’ and ‘Principles of Growth’, the town of Milton looks to welcome a new batch of residents by promoting the construction of various housing forms which lays emphasis on intensification near transit-supported locations. These initiatives can already be seen in action with the Trafalgar Corridor, which is the easternmost roadway that is being green-lighted as a future GO Train station in Milton. As part of the Trafalgar Secondary Plan, this transit-supportive, higher-density, mixed-use initiative is expected to bring about 19,000 new jobs to the town of Milton, while accommodating an additional 32,000 new residents over the next 20 years.
Although the town of Milton is situated on the cusp of the Greater Toronto Area, it features a robust transportation system that keeps its residents well-connected to destinations throughout the entire Greater Toronto Area. This area is served by surface expressways such as Highway 401, Highway 407 and Halton Road 25 that provides rapid travel for local motorists, allowing them to commute to Downtown Toronto in just 80 minutes. These routes also allow motorists to travel to any part of the Greater Toronto Area effortlessly and within no time. The town is also served well by the local public transportation system called Milton Transit, which provides public bus services in the area. Most importantly, Milton serves as the western terminus of the Milton Line GO Train as well as for GO Buses. From the Milton Station, train commuters can get to the Union Station in just under 60 minutes.
Average Prices of Condos in Milton
The average selling price of a pre-construction condo in the town of Milton was $322,200 in the year 2019. New listings so far this year have maintained a price of $537 per square foot, while the prices continue to grow year-over-year. The average rental rate here is currently at $2000. This is considering the rental appreciation rate of 3.3 percent which has been constant for the past 10 years. The demand for condos is still fairly strong here as the vacancy rate currently is at 0.6 percent. The average resale price for all types of homes in the town of Milton is currently around $748,000, while the average resale appreciation rate has been seen at 3.7 percent for the past 10 years.
Diversity in Milton
From the position is has at the Niagara escarpment’s edge, Milton features several parks such as the Bruce Trail and Conservation Halton can come for a day out to escape the urban establishments and enjoy nature. Locals here also have the privilege to participate in some of the annual festivals which include Steam-Era, the Milton Fall Fair and the Downtown Milton Street Festival. If all this wasn’t enough, the city of Milton is expanding its horizons with a number of upcoming developments which are in the pipeline. With Milton expected to expand the route of the existing GO train station to a mobility hub along with opening a new Highway 401 interchange at Tremaine Road, one of the most anticipated plan in Milton is to open a new campus for post-secondary by Wilfrid Laurier University at the Milton Education Village Innovation Centre which spreads over 400 acres of land. With all these developments in line, there are big changes anticipated for the town of Milton. The population of the town is also expected to reach 228,000 by 2031. Considering the bright prospects Milton offers and the increasing demand for housing, this is definitely an great place to invest, when it comes to real estate.
There is much to look forward to in the town of Milton. There is a little bit of everything here for everyone. One of the best aspects here is the fact that you will be investing much less compared to what you would have on other counterparts such as Downtown Toronto. Moreover, you would be getting more square feet of area for your investment, meaning a much bigger condo or townhouse than what you would be getting in other places in the Greater Toronto Area. The abundance of local amenities, shopping plazas and transit options makes this a great place to call home. All of these factors add up and make it an ideal choice for investors and buyers. Upcoming condos in the region are going to become much more prevalent in the months and years ahead, and are expected to have larger units for a better price as compared to other places in the Greater Toronto Area. The place is also ideal for individuals who work in urban environments, but prefer living in smaller communities. There are several condos and townhouses in the pipeline for this region, and this could be great solutions for those who are looking to get more square foot for their investment compared to other counterparts in urban areas such as Downtown Toronto.