This year, the Canadian real estate story has been fascinating. For starters, despite many pessimistic industry experts, the market continued its upswing, selling premium properties in densely populated locales like Toronto and Vancouver. With the weakening of the Canadian dollar, more foreign investments in the housing sector poured in. Among these unpredictable trends, something that few could have foreseen surfaced—the emergence of Suburban Homes. These properties, located along the outskirts of cities like Toronto, have caught the attention of investors and families. The reason lies in the incredible pricing advantage, new townships being developed with modern infrastructure and a vast, green expanse. One such landscape is that of Observatory Hill where migrating families look upon the popular David Dunlap Observatory as a landmark—an identity to the place they now call home!
Changing real estate trends are always the result of numerous reasons. A single influencer cannot precipitate a major change in property buying or renting scenarios. The same applies for home hunters moving beyond the realm of GTA, exploring suburban locations like the Observatory Hill area. Toronto is becoming increasingly expensive. Yes, it is one of the most liveable cities not just in Canada, but across the world and as a consequence its prices and rentals continue to climb.
PricewaterhouseCoopers (PwC) mentioned Toronto in its 7th edition of “Cities of Opportunity” report where London was named as the best city across the world to work, do business and explore local culture. Toronto ranked third, as a preferred place to live and work. With the Brexit, London might lose its numero uno status, meaning Toronto will further rise in the index of livability!
There has been a serious decline in oil prices. Places like Calgary are stuck with an increasingly sluggish economy. The same applies to Edmonton. Most folks believe this will leave a long-term impact on the nation’s real estate market that is headed downwards in many places. The dipping dollar means more projects coming in for the GTA, including manufacturing, warehousing, transportation, and other sectors. This turnaround in economic growth is influencing a new trend with small families searching for a piece of their own paradise. Their requirement is simple—detached or semi-detached homes that are affordable, provide great education options and have not lost their green status.
Toronto Real Estate Board says average resale price of Greater Toronto Area homes has climbed beyond $700,000 during August 2016 – a rise of more than 16% as compared to 2015!
For investors and real estate developers, this means thinking beyond Toronto, such as the northern exterior of the city where Ontario’s own David Dunlap Observatory Park is located. Today, you can find a spike in David Dunlap Observatory development from a real estate and public infrastructure perspective. The reason is simple—it isn't just David Dunlap Observatory stargazing activities but its natural cover conservation and controlled commercialization policies that are contributing to beautiful family homes within a sensible budget.
Apart from the fact that the David Dunlap Observatory region has an extensive, smartly preserved landscape and metropolitan-like amenities, there are more reasons for families to invest in a home here. The DDO is a scientific and cultural landmark. Host to the nation’s biggest optical telescope, DDO and its Park is a piece of heaven, now witnessing sensibly planned real estate development with plenty of room to ensure that its connection with nature isn't lost. Families contemplating a home in the GTA should consider the near 72-hectare green setting that has an astronomically significant David Dunlap Observatory along with other socio-cultural landmarks like the Radio Shack (built in 1956), the Elms Lea farmhouse, or the Beaux Arts Classical Administration Building.
If you are searching for a home, in an area as developed and well-networked like Toronto but without the typical crazy schedules associated with city life, head a bit northwards where Observatory Hill development projects are underway. You get the added advantage of finding south Richmond Hill cultural activities within easy reach. Make it a point to read more about the interesting history of the David Dunlap Observatory and how the local communities have ensured that their green meadows and big, spacious homes welcome new families! To get an immediate overview of the best real estate development projects underway,