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Why Invest in Vaughan Real Estate?

The City of Vaughan is part of the York Region of the Greater Toronto Area. Most of the homes in Vaughan are concentrated in the southern area of the city, where residents can easily access city facilities, transportation, and attractions. The growth of the city during the 80s and 90s changed it from a village to an urban centre. There have been many condos built and sold alongside the Vaughan Metropolitan Centre. As part of its vision, the city wants to develop a downtown area. Intending to create a new downtown, Vaughan is developing The Vaughan Metropolitan Centre to serve businesses and residents in an urban setting. The creation of a viable and sustainable community will result in the creation of around 10,000 businesses, companies, and developers. Vaughan has the friendly atmosphere of a small town, but it has become one of the fastest-growing cities in the country. Investing in a new condo in Vaughan will allow you to have access to the many things that the city has to offer, from a variety of housing options, local attractions, city amenities, education, and careers. In Vaughan, you will find many styles of homes, from newly developed detached houses to high-rise condominiums. As the population continues to grow, the city has made efforts to make the city an ideal place to live, shop, work, and play. Living in a new condo in Vaughan will give you access to many city attractions, such as Canada’s Wonderland, which is the largest theme park in the country. For outdoor attractions, there is the Kortright Center for Conservation and Boyd Conservation Park in Vaughan. Other popular attractions are the LEGOLAND Discovery Centre and Reptilia Vaughan, making the city an exciting place to live. As Vaughan is in the Greater Toronto Area, it makes it a perfect place to invest in a new condo, with access to many routes to and from other parts of the GTA, including Downtown Toronto.

Why Buy New Condo Developments in Vaughan?

Located in the Greater Toronto Area, Vaughan is one of the fastest-growing cities in Canada. The city is currently home to over 300,000 residents, and its population is projected to increase to 410,000 by 2031. To create opportunities for its citizens, the City of Vaughan has made significant cultural, economic, and social changes. Despite the economic boom, with all the new buildings and people moving to the city, Vaughan has remained a family-oriented community with a friendly atmosphere. A new condo in Vaughan will place you in a family-friendly environment with easy access to city facilities, attractions, and educational and career opportunities. The city’s efforts to revitalize the city and attract more people have led to an increase in new condo developments in Vaughan. The Mackenzie Vaughan Hospital finished construction in 2020, creating approximately two thousand jobs in the city. Also underway is a YMCA/Library project consisting of nine-story buildings, a gym, library, performance arts space, and childcare facilities. Vaughan Real Estate has been in high demand recently due to its proximity to other communities. There are also many educational options in the city, including elementary and secondary education offered by York Region District School Board and York Catholic District School Board. In total, the YRDSB operates 39 elementary schools and eight secondary schools in the city, which includes French Immersion education, while the YCDSB manages 33 elementary schools and five secondary schools. There are several post-secondary institutions nearby, including York University, Seneca College, and Niagara University.

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Employment in Vaughan

The City of Vaughan is a fast-growing municipality resulting in a growing labour force. Vaughan is home to over 300,000 residents, with over 227,000 employed since 2019. The city currently has an unemployment rate of 5.1%, which is below the provincial rate of 8.4% and the national rate of 7.8%. Investing in a new condo in Vaughan will allow for easy access to the many career opportunities that the city has to offer. Vaughan is the 4th largest business centre in the GTA and is home to many domestic and international companies. The key industries in Vaughan are Advanced Manufacturing, Arts and Culture, Construction, FIRE, Food and Beverage, Professional and Business Services, Technology, Tourism, Transportation and Warehousing, and Wholesale Trade. Living in Vaughan also gives you access to the many work opportunities in Toronto and the Greater Toronto and Hamilton Area due to Vaughan’s direct access to several routes in the Highway 400 series. Advanced manufacturing is one of the city’s largest sectors and main economic contributors. The advanced manufacturing sector employs over 37,000 people and operates in different clusters, such as automotive, food and beverage, building material, and furniture. Of the 1,313 advanced manufacturing companies operating in the city, some of the leading companies include Magna International, Woodbridge Group, Concord Confections, Vision Group, Toro Aluminum, and Global Furniture Group. The second-largest sector in Vaughan is the FIRE sector, also known as the finance, insurance, and real estate sector. The FIRE sector has a highly skilled and driven workforce of over 19,000 workers. The sector hosts both domestic and international companies, with leading companies such as Yum! Brands, Adidas Canada, Oriana Financial Group, Primerica, Masters Insurance, Century 21 Heritage Group, and Remax Premier. The FIRE sector is also responsible for many of the city’s efforts to modernize the city, with previous projects including the Vaughan Metropolitan Centre. Professional and business services are the city’s fastest-growing sectors, with companies in accounting, engineering services, and management. The sector has over 2,800 companies and employs just over 18,000 people. Some of the leading companies in the professional and business services sectors include Deloitte, KPMG, Telecon Design, Schaeffer and Associates, and Sycreon.

Average Prices of Condos in Vaughan

According to TREB data, the average price of all types of residences, including new condos, in Vaughan is $1,280,141. The average cost of all types of homes in Vaughan is higher than the Greater Toronto Area average, which is $1,075,636. As of 2021, the average selling price for condos in Vaughan was $668,759 and spent an average of 19 days on the market. The average price of a condo in the York Region is $641,408, which is slightly lower than the average price for a condo in Vaughan. In comparison to prices between the GTA and Vaughan, the average condo price in Vaughan is lower than the average price in the Greater Toronto Area, which is $683,479. In Vaughan, the benchmark price for condos is $642,500, which represents a change of 10.22% from the previous year.

Transit in Vaughan

Investing in a new condo in Vaughan will give residents access to various transit options. From Vaughan, residents can use GO Transit, TTC, and York Region Transit, to travel throughout the city or to other areas of the GTA. Through YRT, the Viva light rail runs through different areas of the York Region. The YRT connects the cities of Aurora, Markham, Newmarket, Richmond Hill and Vaughan, and has connections with TTC and GO Transit. These links have made commuting in Vaughan more efficient and faster. TTC subway services are accessible from Vaughan Metropolitan Centre, which is the final station of the TTC Yonge-University (Line 1). From Vaughan Metropolitan Centre station, riders can arrive at Toronto Union Station in 45 minutes. For GO Train services, customers can use the Barrie Line from Rutherford GO and Maple GO station, from which they can reach Union Station in 30 minutes. The YRT offers several services in the city, including Viva Routes, Local Routes, Express Routes, and GO Connection Routes. The Viva Transit Orange Line travels through Vaughan, running east to west, from Martin Grove to Richmond Hill Centre. Several nearby highways make travelling from Vaughan to other parts of the GTA and Vaughan more convenient. Running north and south, through the central part of the city is Highway 400, which merges into Highway 7, Highway 407, and Highway 401. Highway 27 runs parallel to Highway 400 and is another route that connects Vaughan to Highway 7 and the Highway 400 series. From Vaughan, Keele Street, Jane Street, and Weston Road also provide a connection to the City of Toronto. When you buy a new condo in Vaughan, you will have access to the many transit services available in the city, which will make travelling around the city and Greater Toronto Area convenient.

Neighbourhoods in Vaughan

The City of Vaughan has 19 neighbourhoods, each with different attractions and features. Woodbridge, Maple, and Concord are some of the most popular neighbourhoods to find a new condo in Vaughan. The Woodbridge neighbourhood is located on the southwest end of the city, along the border of North York (Toronto) and Brampton. The population in the neighbourhood consists of young families, with a variety of homes available in the area, from high-rise condos to townhomes. Woodbridge residents have access to excellent shopping and dining options in downtown Woodbridge and can easily access natural areas such as Rainbow Creek Park and Boyd Conservation Park. From Woodbridge, residents can use transit services from YRT via the Viva Orange Line. The Woodbridge Pool and Memorial Area are also available to residents, where they can use facilities for skating, sports, and swimming. The neighbourhood also boasts two golf clubs and a sports park. The Country Club and The National Golf Club of Canada are the private golf clubs in the area. Another neighbourhood to consider when looking for a new condo in Vaughan is the lively neighbourhood of Maple. Maple is in central Vaughan, directly east of Highway 400, and is a mixed-use area with residential properties, as well as industrial and commercial areas. The neighbourhood has many facilities available to residents, including Maple Pool, Maple Arena, Maple Community Centre and Maple Fitness Centre. This neighbourhood is ideal for those looking for easy access to public transit, as the area is served by GO Transit, TTC, and York Region Transit. Residents can access GO Train services from Maple GO station. The neighbourhood is home to many Vaughan attractions such as Canada’s Wonderland and Vaughan Mills. Concord is located directly south of Maple and east of Highway 400 and situated on the border of Vaughan and Toronto. Most of the homes in Concord are detached homes, with new condo developments underway. From Concord, residents can easily reach one of the largest outlet malls in the GTA, Vaughan Mills, which features over 200 fashion retailers. The neighbourhood has easy access to various transportation options, including Highway 400 located west of Concord and transit services provided by TTC and YRT. In these neighbourhoods, you will find excellent new condo developments in Vaughan.

Questions & Answers

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