Why invest in Ajax Real Estate?

The city of Ajax is located in Ontario and holds a population of about 109,600. This city has a population growth rate of 21.6 percent, which is far greater than the rest of the cities in Canada. One of the best reasons to live in Ajax is the fact that it has a good employment rate. The unemployment rate currently for this city stands at 9 percent which is average when compared to the other cities in the Greater Toronto Area. An approximate of 56 percent of the residents have a university degree. The average median family income in the city of Ajax is $88,262 which ensures an exceptionally good standard of living. Homeownership is higher here and accounts for 87 percent of the total population. The other 13 percent on the other hand are renters. The mortgage costs about $1650 on a monthly basis, which is an average when compared to the other cities in Canada. The city also features several good neighbourhoods that you can call home.

List of New Homes in Ajax

Why Buy A New Home in Ajax?

The town of Ajax has seen massive growth over the last couple of years, which has also outpaced that of Toronto’s. This is also one of the main reasons why this area has become a really hot market for real estate. The collective housing prices in Toronto grew by an astonishing 58 percent from 2012 end right up till 2017 end. Ajax has still managed to outpace Toronto considering its composite index which grew at an unbelievable rate of 72 percent over the same period of time. While the average price of condos here is still on the lower side if compared to Toronto, it is just a matter of time before it can outdo Toronto’s downtown core when it comes to prices. The growth of price here has been influenced largely by the exponential population growth.

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New Condos in Ajax and Reasons to Buy

The town of Ajax has seen massive growth over the last couple of years, which has also outpaced that of Toronto’s. This is also one of the main reasons why this area has become such a booming real estate market. The compound housing prices in Toronto grew by an astonishing 58 percent 2012 end right up till the end of the year 2017. Ajax has still managed to outpace Toronto by its compound index which grew at an unbelievable rate of 72 percent over the same period of time. While the average price of condos here is still much lower than that of Toronto, it is just a matter of time before it could have a taller ceiling than that of Toronto’s core. The growth in price here has been influenced largely by the exponential population growth. In 2016, there were 119,677 residents that were living here, which was a growth of 9.2 percent from 2011. This is far ahead of the rate of growth for Toronto, which was only 4.5 percent over the same period of time.

Average Prices of Homes in Ajax

The average resale price for all types of homes in Ajax is $663,552 at present. The average rate of resale appreciation has been seen at 7.6 percent for the past 10 years. The average rental rate currently stands at $1900, which is in addition to a rental appreciation rate of 4.2 percent for the past 10 years. The vacancy rate currently sits at 1.1 percent, thereby making the demand for homes is strong here. At present, there are several local businesses in the area however; this is about to change as a $32 million dollar transformation is on the way to turn Ajax into a thriving and walkable community that can foster updated development models in a manner that is eco-friendly in nature.

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