List of New Eglinton in Yonge & Eglinton Neighbourhood
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Investing In The Yonge & Eglinton Real Estate Market
Yonge & Eglinton is one of the few neighbourhoods in Toronto where the residents have a perfect balance between work and play. The area mainly comprises young professionals as well as young families that are planning to plant their roots. With regards to basic checkpoints in terms of location, transit and availability of amenities, this neighborhood is one where both walk score and transit score are at an all-time high, thereby making it an excellent investment opportunity in terms of real estate. One of the main factors that make this neighbourhood popular among professionals is the abundance of transit services as well its close proximity to the major employment hubs in Toronto. This also allows them to save time and money to a great extent. The neighbourhood is also family-friendly and features a series of high-ranking schools along with convenient access to some of the iconic and renowned post-secondary educational institutes. Even with the growing number of residential 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 residential 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 places 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 real estate properties 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.
New Home Developments In Yonge & Eglinton And Reasons To Bu
Approximately 71% of the residents in Yonge & Eglinton are tenants while the remaining 29% are homeowners. Buying a house here for investment purposes is a lucrative idea as there are several people looking for places on rent rather than buying. The neighbourhood is high in demand and as such the vacancy rate is the lowest in Toronto. The advantage here is that there are several tenants to choose from. New residential projects keep coming up in order to fill the gap between the supply and demand. 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. Although condominiums constitute the majority of the residential developments here, there are still a few detached homes available here. The advantage of this is that the scarcity of the homes can fetch you a great deal when it comes to selling your property later on. Families always have a preference towards detached homes for the sake of privacy and investing in a home here can result in several benefits. 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 Prices of Homes in Yonge & Eglinton
Condominiums constitute the majority part of the real estate market in Yonge & Eglinton and account for 43% of the total home sales. Detached houses come in second and account for 37% of the total sales while semi-detached houses are the rarest and account for only 15% of the total home sales. Two-storey houses are a part of a popular trend in this neighborhood with most properties featuring two bedrooms. The neighborhood had an average cost of $1,082,208 over the past year, which includes an increase of 11% over the previous term. The average cost of all types of home was $612,593 over the past year, as compared to the average freehold cost of $1,681,272 over the same period of time.
Getting Around In Yonge & Eglinton
Yonge & Eglinton is located north of downtown Toronto and this strategic location provides the residents with world-class transportation services. The neighborhood is served well by public transit thanks to the Toronto Transit Commission along with several other regional transit services including the York Region Transit (YRT), GO Transit and much more. TTC buses can be availed at majority of the 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 which is estimated for completion by 2022. Once this service is initiated, it will feature 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.
