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State of Affairs
The east end is changing at break-neck speed:
- Surging population
- Increasing density
- Shrinking square footage
- Rapid commercial and cultural growth
- A changing demographic and gentrification
The population growth has brought a new need for housing and commercial space in the east end. And it’s happening. The phrases “mixed-use” and “ground-level retail” are splashed across every construction zone fence in the area.
There’s one thing for certain: rapid development like this brings rocketing home values.
But this isn’t the first time we’re seeing large-scale neighbourhood transformation in Toronto. We’ve already seen this in Queen West, Roncesvalles, High Park, and more.
A Familiar Pattern
Rapid growth and soaring property values have defined what we think about the west end for the last decade.
Buyers who defied the naysayers and bought in scoffed-at neighbourhoods like Liberty Village and Roncesvalles turned out to be right; the price per square foot in these areas jumped by triple digits year-over-year.
It starts with a growth in population, followed by denser residential housing, and then commercial investment follows the increase in foot traffic. Once-affordable home values soar.
And right now, this is underway in the east end.
Liberty village pop’n growth: 175% between 2011-2016. Queen West: 109%
The east end has one major differentiator from the west: it’s earlier into this growth cycle.
There’s no doubt that prices are going to rise with growth. But right now, housing is still relatively affordable.
With lower entry costs and more square footage than anywhere else in the city, east end condos, townhomes, semis and detached homes are accessible.
It’s not quite “undiscovered” – but the east end has just begun trending.
With this familiar pattern repeating all over the city, there are a few clear things we can expect for people living in East Toronto over the next decade.
Some are already happening:
- Increasing mixed-use condo construction
- New construction floorplans getting smaller over time
- Growth happening fastest in areas around good schools and existing neighbourhood culture (Leslieville, the Beaches, Danforth)
- “Affordable” housing areas moving further away from these hot spots
- Prices rising all over the east end for all types of housing
Ultimately, it means the best time to invest in the hottest east-end neighbourhoods may have already passed.
But it also means that you can see where the money will be by following the coffee: where are cafés, boutique shopping, and small gyms opening up in the east end?
What spots are accessible with vehicles and transit, and are just outside existing high-growth areas?
You can track these trends, and future high-growth areas, with guidance from a Halyard Group Professional.
And with that, your detached home dreams can be a reality, and a good investment to boot.
Get in on the ground floor
Buying and living in East Toronto is likely a strong investment, based on similar patterns we’ve seen all over the city.
It’s also one of the few places that offer easy access to downtown while prices for detached homes and housing are still affordable.
So if you’re considering living in East Toronto, it’s time to start looking now.
Always up-to-date, always pre-vetted. See what’s available in Toronto’s east end and the GTA.