The Toronto housing market was on an upward trajectory at the start of 2020, picking up right where the fall market left off in 2019. Sales were on track to surpass 2018 and 2019 levels. While the impact of COVID-19 put a pause on the busy spring market, industry experts anticipate a return to an active state once social distancing measures are lifted.
Housing affordability and low inventory continue to be an area of concern for Toronto homebuyers, who range widely from households with and without kids, to luxury seekers and Baby Boomers / retirees.
So, what are the best neighbourhoods in Toronto to buy a house? RE/MAX explores more than 300 of Canada’s most liveable hot spots in the new 2020 Liveability Report. Here are our top picks in Toronto.
10 Most Liveable Neighbourhoods in Toronto
- Kensington Market
- West Don Lands
- Bay Street Corridor
- North Riverdale
- Grange Park
- Alexandra Park
Most Affordable Neighbourhoods in Toronto
The most affordable neighbourhoods in Toronto are Trinity Bellwoods, East York and The Junction. These neighbourhoods are also among of the most up-and-coming in the region. East York has been a sought-after neighbourhood for a number of years, thanks to its very family-friendly atmosphere and proximity to downtown, while Trinity-Bellwoods and The Junction have experienced recent gentrification and an improvement in proximity to bike lanes and walking paths, independently owned retail/gyms/bars and restaurants.
Toronto’s Future Liveability
Toronto liveability is expected to continue improving in the next three to five years, based on ongoing improvements in homes and local businesses. “It’s become increasingly common for homes purchased in Toronto neighbourhoods to undergo immediate renovations, which has a positive impact on its entire respective area. Toronto has so many incredible amenities as is, so these aesthetic improvements make a big difference on the look of its neighbourhoods.”
Toronto at a Glance
Toronto is both the most populous city in Canada and the provincial capital of Ontario. Located on the northwestern shore of Lake Ontario, Toronto features an urban downtown core and is surrounded by the region best known as the “Greater Toronto Area,” which features a breadth of suburban and urban city centres. Known as one of the most multicultural cities in the world, Toronto is a centre for business, finance, culture and arts.
Canada’s Most Liveable Neighbourhoods
Liveability is about quality of life at a local level. A neighbourhood’s dynamism, or lack thereof, involves a delicate convergence between independent small businesses, public institutions, arts and culture, green spaces and housing, to name a few. The COVID-19 tragedy will impact neighbourhood ecosystems differently across the country, just as the virus itself has. Yet, civic/local pride has been proliferating throughout this crisis in inspiring ways, giving Canadians hope that micro-economies, including real estate, have the resilience to be restored in the near and mid-term.
To learn more about liveability in Canada’s biggest housing markets, read the RE/MAX 2020 Liveability Report.
Courtesy of REMAX.ca