Durham Region, is a regional municipality located in Southern Ontario east of Toronto, Ontario. It has an area of approximately 2,500 square kilometres. The towns of Pickering and Ajax, and the township of Uxbridge, make up part of the Toronto Census Metropolitan Area, with the communities of Oshawa, Whitby, and Clarington make up the Oshawa Census Metropolitan Area. The regional government is headquartered in Whitby.
When talking about housing prices, most people will focus on Toronto area. In fact, the property appreciation in Durham region is not that bad at all.
Here is some housing statistics for Durham region from January to August this year.
Real Estate Values Changes – From January – August 2015
Average Price Increases
2015 Pickering $480,000 3.3%
2015 Ajax $494,849 15.5%
2015 Whitby $519,644 19.4%
2015 Oshawa $361,857 16.8%
There are not a lot of properties changing hands in Pickering, there are a lot of properties changing hands in Ajax, Whitby and Oshawa. You can see that the property price increased a lot this year. That is very interesting fact, right?
The increase in Ajax, Whitby and Oshawa seems to be matching that of Toronto area. With the sky rocking property prices, a lot of people will have to find alternate choice. Moving to the nearby cities is one of the choices. I live in Markham, I have investment properties in Durham region. Markham has been growing too fast in the last few years, there are lots of traffic congestion issue, like 16th avenue between McCowan and Kennedy road. The town of Markham should have better planned for the road before allowing houses being built at Upper Unionville.
Looking at Durham region, there are lots of road constructions preparing for highway 407. Look at the highway 407 expansion picture above. The construction has been broken into different phases, construction will continue until 2020. If you ever get a change to drive along highway 7 all the way to the east, you will like it. The traffic is so smooth, and it will be much better when highway 407 is in place. Highway 412, a new highway that connects 407 and 401 is well underway.
If you are looking for a nice place to live for your family but have limited budget, I will suggest Whitby or Ajax, there are nice neighborhood there. If you are looking for a cashflow positive rental properties, I will suggest Oshawa, the rent is high comparing with the property price, there are lots of choices.
I can see the housing boom for Durham region will continue at least for the next 5 years. I know Durham region very well because I invest in the region. If you are looking for a property in Durham region, please give me a call, and I will be glad to help out.
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