April 23, 2010

Buyers Are Attracted To Vaughan Real Estate

In contrast to many areas facing a slow down in residential sales due to a lack of consumer confidence, popular places like Vaughan, Ontario, the “City above Toronto” are indeed experiencing a ’seller’s market’ due to fast paced growth. Over the last 20 years, the sector has risen from a mostly rural township to a busy center of communities that are all considered piece of the city of Vaughan. In only 10 years, the community of Vaughan expanded 276 percent and is predicted to climb to 1.5 million by 2031.

The census figures from 2006 reveal that Vaughan is bringing in many young home owners, with 81 percent of the community under 55 years old with a median age of 35.9 years, that is significantly smaller than the 39 year-old average for Ontario.~ Vaughan is drawing in young residents, and according to the 2006 census the median age is 35.9 years with more than 81 percent under the age of 55.} The appetite for single-family dwellings has exploded as a result, and even though 65% of the homes still consist of detached units, studies by the York Region Planning Department indicate there is a consistent shift in condo apartments and multiple-row house construction in the last number of years.

Studies also reveal that the average median income of Vaughan residents is 31 percent higher than the Canadian average, and as a result the homes prices are usually a bit more than in neighboring Toronto. The spin-off of this can also be seen in Markham homes for sale as well which has also experienced an increase in demand from home buyers and is great news for sellers.

The proximity to Toronto services is one reason Vaughan real estate has become so sought after, especially because the way of life provides such a contrast to the dense urban occupancy of the metropolitan area. The region has tried to maintain a small town local charm by focusing on lots of green spaces within well designed neighborhoods naturally divided into communities which have up-to-date schools and civic hubs. Purchasers are also attracted by the focus on public green areas surrounded the well planned neighborhoods with civic hubs with modern schools. Unlike many ‘bedroom communities,’ Vaughan has a wealth of daycare and health care services– including a new regional hospital — and high end shopping centers, restaurants and well-maintained public recreational facilities.

As the inhabitants of Vaughan has climbed, the infrastructure has kept up with the demand for access to Toronto for the daily traveler, and there is a spectacular grid of four lane roads that connect the highways and toll roads to municipal streets and main roads. The Greater Toronto Transit Authority, referred to as GOT, provides inter-regional passenger trains and buses during rush hour, and the Viva Bus line has sleek Van Hool blue buses that service the York Region Transit service. The Greater Toronto Transit Authority, referred to as GOT, supplies rush hour passenger trains for stops in Vaughan and the Toronto Transit Commission (TTC) has passenger routes that connect to subways and RT stations in Toronto.

As opposed to the densely populated Toronto area, there is still plenty of undeveloped Vaughan real estate to be had. Because Toronto has such a dense population, there are few occasions to custom construct houses and estates in the metropolitan area.

The undeveloped tracts also hold opportunity for more local attractions to the region such as Canada’s Wonderland, a premier amusement park located in Maple, one of the communities in the city of Vaughan. Farmland comprises a significant portion of open land and there is a move afoot to try and preserve it.

Along with Maple, various other small regions encompass the city of Vaughan. They consist of Woodbridge, Markham, Concord, Kleinburg and sections of Thornhill. The distinct flavor of each area is because of the blending of older family homes, high-end master-planned neighborhoods and multi-family housing that are blended with industrial area and retail centers.