Why invest in Oakville Real Estate?
Oakville is a town located in GTA’s Halton region. Its growth has been planned for six main areas throughout the town; Bronte Village, Downtown Oakville, Kerr Village, Midtown Oakville and Uptown Core. Real estate condos and townhomes have been built and sold in these areas, boosting the town’s economy and bringing more businesses and retails. Also, infrastructure has followed its growth as public transit accesses have been created as well as pedestrian networks. Town’s population has increased more than 6% since 2011 according to Census 2016. This average rate is higher than Toronto growth during the same period. Approximately 250,000 inhabitants will populate the area in the next 10 years. Halton Region is estimated to double its population in the next 25 years going higher than 1 million people by 2041. Hence, employment offering will grow at the same level offering more than 400,000 positions in which 31% is planned to be placed in Oakville.
List of New Condos in Oakville
Why Buy New Condo Developments in Oakville?
Oakville is home to several corporate offices, where several life science companies have settled in the city. Ford Motor Company, Siemens Canada head offices and Tim Hortons head office are located in Oakville. Furthermore, the city counts on a high quantity of reputable secondary and elementary schools, and is recognized as one of the largest ratios of private schools in the country. Sheridan College main campus is located in Oakville as well. Over 53,000 students are enrolled in the college in several programs such as; engineering technology, applied computing, business, among others.
Regional bus service is provided by Oakville Transit throughout the town. Also, there are two GO Train stations that connect to Toronto which are Bronte and Oakville stations. In the city’s vicinities major thoroughfares such as highway 407 and Queen Elizabeth Way in the east/west access, Highway 403 at north and south access. Thanks to the presence of these highways, drivers can easily navigate throughout the largest urban centers in Southern Ontario with the route having Oakville amidst Mississauga and Hamilton. The Financial District in the downtown core of Toronto can also be reached easily within 30 minutes through these routes.
Average Prices of Condos in Oakville
The average resale price for all types of homes including condos in Oakville was around $443,950 for the year 2019. New listings so far have been maintaining a price of $683 for every square foot which is currently following a growth path of 8.6 percent every year. The average rate of resale appreciation has been seen at 6.2 percent for the past 10 years. The average rental rate currently stands at $2100, which is in addition to a rental appreciation rate of 3.2 percent for the past 10 years. The vacancy rate currently sits at 0.6 percent, thereby making the demand for condos strong here.