Investing In The Yonge & Eglinton Real Estate Market

There are only a handful of neighborhoods in Toronto that believe in working hard and partying even harder. Yonge & Eglinton is one such neighborhood that provides its residents with all amenities, be it a necessity or a luxury. With respect to location, transit and availability of amenities, this neighborhood is one of the best in Toronto and as such investment in real estate here is a lucrative choice. The availability of public transportation ensures a smooth commuting experience for working professionals on a daily basis. It also helps them in saving time and thereby saving money. Yonge & Eglinton is also a desirable neighborhood for families with kids as the neighborhood has several reputed educational institutes to offer. Even with the growing number of condo developments, the neighborhood still has the lowest vacancy rate within the city, making it an ideal place to invest in real estate. With the increasing number of condo projects coming up, you are also exposed to a wide variety of options to choose from based on your preferences. Although the prices of real estate properties here are a little more expensive compared to the rest of Toronto, it is still a good investment as the demand for a condo on rent is high. You will not have any issue finding a tenant and moreover the value of your property will increase with time. Studies had shown that there was an increase of 11% in the price of condos over a year. You can also expect a monthly income through rent as the demand is high in Yonge & Eglinton. With a prime location in the city, world-class public transportation and abundance of amenities around, there is no doubt about the fact that investing in real estate here is one move that you will not be regretting.

List of New Eglinton in Yonge & Eglinton Neighbourhood

Why Buy A New Condo Development In Yonge & Eglinton?

Home ownership is low in Yonge & Eglinton with 71% of the residents being tenants while the remaining 29% are owners. Renting our residential units is very lucrative in this neighborhood due to the high number of tenants as compared to homeowners. Yonge & Eglinton is high in demand and as such the vacancy rate is the lowest in Toronto. It is easy to find a variety of tenants here to choose from. There are over 20 new condo developments that are coming up in the area to make up for the high demand for condos. This neighborhood is favoured by families who want to raise children attending schools. There are several infrastructure provisions here such as large houses, private and public schools of high standard, ravines, green spaces, parks and recreational facilities. The neighborhood has also emerged as a preferred site for condo developments and as such there are a number of new condo developments that have been coming up in the recent past. Besides families, the neighborhood is also popular among young professionals owing to it’s live, work and play vibe.

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What To Do In Yonge & Eglinton?

Yonge & Eglinton is a neighborhood in Toronto that is located north of the downtown core. It is often referred to by the residents as ‘Yonge and Eg’ and is also considered as a ‘Downtown North’, with several facilities such as a financial centre, high-end shopping centres, vibrant nightlife and dining options. The neighborhood is bordered by Mount Pleasant Road to the east, Avenue Road to the west, Briar Hill Avenue to the north and Hillsdale Avenue to the south. The present population of Yonge & Eglinton stands at 65,000 residents; however, there is a constant exponential rise. The average age of the population is around 40 years of age and 75% of the entire population are within the ages 25 and 64. As per recent census, 72% of the entire population comprises families. The average income of this neighborhood is nearly double as that of the Toronto average and stands at $147862. The strategic location of the neighbourhood provides the residents with some of the best lifestyle amenities along with access to some of the most iconic places in Toronto including the CN Tower, Royal Ontario Museum, Art Gallery of Ontario, Casa Loma, Ripley’s Aquarium of Canada, Canada’s Wonderland, Toronto Islands and several more attractions. The area also has a vibrant nightlife and features several renowned nightclubs including Duke of Kent, Good Fortune Bar, The Fox: A Firkin Pub and The Rose and Crown. This is also a popular place for young professionals as most of the employment hubs are easily accessible from here and provides a vibrant lifestyle for them to unwind at the end of each tiring day.

Average Condo Prices in Yonge & Eglinton

Condos are the most common type of houses here and account for 43% of the total home sales. Detached houses are slightly lesser in number and account for 37% of the total sales while semi-detached houses are the least popular and account for only 15%. Two-storey houses are a common trend in this neighborhood with most properties comprising two bedrooms. The average cost in the neighborhood was $1,082,208 over the past year, which is an increase of 11% over the previous term. The average cost of a condo was $612,593 over the past year, as compared to the average freehold cost of $1,681,272 over the same period of time.

Transit And Accessibility

When it comes to transit options, making your way around the city from Yonge & Eglinton is a walk in the park. The neighborhood is served well by public transit thanks to the Toronto Transit Commission. TTC buses are available at most times during the day and operate in and around the area. Residents also have the privilege of availing subway services through the Eglinton Station which can be accessed through Eglinton Avenue, Avenue Road and Yonge Street. One of the most anticipated projects coming up in terms of transit is the new Eglinton Crosstown LRT project that is estimated for completion by 2022. Once it is up and running, it will have an estimated 79,000 passengers who will be commuting out of this neighborhood on a regular basis. This LRT will feature 25 stations that will span from Kennedy in the east to Mount Dennis in the west and will make Yonge & Eglinton one of the few intersections in the city to feature rapid transit access in all four directions. Residents who prefer driving to public transportation can make use of the several side streets available to avoid traffic congestion to get to their destinations faster. The Don Valley Parkway and the Ontario Highway 401 are easily accessible too through the several arterial roads available and can connect commuters to major parts of the city. The Don Valley Parkways also extend up to the Gardiner Expressway which can be used to travel to other major parts of the GTA as well including Etobicoke and Mississauga.

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