Why Should You Invest In The Yonge & Eglinton Real Estate Market
Yonge & Eglinton is one of the most iconic neighbourhoods that is full of corporate offices, boutique stores, local eateries, fine dining and several other lifestyle amenities. This is one of the few neighbourhoods where residents believe in maintaining a work-play balance. Residents of this neighbourhood mainly comprises young professionals along with young families looking to plant their roots in the area. Located in the heart of Toronto, north of the downtown core, the neighbourhood comes with an excellent walk score alongside an amazing transit score. The proximity to major employment hubs along with the abundance of transit options make this neighbourhood popular among professionals as commuting issues are taken care of to a great extent. This also gives them the provision to save time and money. Yonge & Eglinton 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 including Oxford College of Canada, King George International College, Toronto Film College and many more. Despite the growing number of residential developments, the vacancy rate is still very low in Toronto, 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. As high as the prices of real estate properties may be in Yonge & Eglinton, you can be rest assured that the values will reach a substantial point in a few years.
List of New Eglinton in Yonge & Eglinton Neighbourhood
New Townhomes In Yonge & Eglinton And Reasons To Buy
Tenants outnumber homeowners in Yonge & Eglinton and account for 71% of the total residents while the latter only comprise 29% of the total population. Investing in a townhome here is a lucrative option as the number of tenants are large with the majority of the population looking to rent a house rather than buy one. Yonge & Eglinton is a popular neighborhood that is high in demand and as a result the vacancy rate is the lowest in the city. One of the pros of investing 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, townhomes are also catching up in the race with several new projects coming up and more in the pipeline. The advantage of this is that the lesser number of the townhomes can fetch you a great deal when it comes to selling your property later on. Families always have a preference towards townhomes for the sake of privacy and investing here can result in several benefits. Besides families and young professionals, the neighbourhood is also popular among post-secondary students as there are several colleges and universities that are easily accessible from here.
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Things To Do In Yonge & Eglinton
Yonge & Eglinton is one of the most vibrant neighbourhoods in Toronto, located north of the downtown core. The central location of the neighbourhood gives it several advantages when it comes to transit and amenities. The neighbourhood 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 ample 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 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 Townhomes 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.
Find New Eglinton Developments By The Neighbourhood
Toronto Neighbourhoods
Transit And Accessibility 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.
