Brampton - Flourishing in the Flower City
Brampton is a growing city just to
the north-west of Toronto, known as the "Flower City.” Brampton is a unique
city, home to a tight-knit community of family-oriented folks in a sprawling
suburban area. There are an array of scenic parklands making up more than 6,000
acres of recreational area to enjoy. There is a high demand for housing in Brampton,
which like many other GTA cities, is driving the cost of houses up. Young home
buyers who have come to terms with leaving Toronto due to unaffordable prices
are looking to Brampton for relocation. Those in the market are looking at
aggregate pricing for houses. Aggregate pricing is the weighted average of the
median values of homes for various property types. In Brampton, these prices
rose by more than $52,000 in 2016 from $460,000 to $513,000. That’s a
significant jump in one year. Despite this, one thing is clear in Brampton –
home prices are far more attainable for first-time buyers and the middle class.
Brampton – Home Prices Best in Class for Value
According
to MLS®market stats for 2016, in Brampton home prices are more within reach than
more developed or affluent communities. One would assume that Toronto is the
obvious choice for the most expensive, however Oakville takes that accolade
over four property types – detached, semi-detached, town house and
condominium. Brampton sellers are among
the best in class for days on the market for detached homes – coming in line
behind Ajax (24 days on market,) and Toronto (34 days on market.) The average
time spent on the market for a Brampton property is 35 days. Detached homes are
the most coveted and in Brampton, home prices are an appealing alternative.
Here is how the MLS® report presented
Brampton’s average home pricing and time on the market in 2016:
- Detached homes - $673,893, 773 active listings,
35 days on the market
- Semi-detached homes - $414,794, 193 active listings,
25 days on the market
- Town houses - $393,703, 123 active listings, 26
days on the market
- Condominium - $291,832, 194 active listings, 32
days on the market
Home prices are only one part of
the equation when deciding to purchase property, especially in a new area.
Understanding Brampton’s unique charm is sure to intrigue potential buyers.
Diversity and Inclusion
Brampton is one of the most diverse
communities in Canada. As of the 2006 census, more than 55% of the city’s
population considered themselves a visible minority. Inclusion creates a
friendly community and promotes equality for all. As Brampton continues to
grow, new developments and amenities are available for commercial and
recreational use. The Cassie Campbell Community Centre and a newly renovated
Chinguacousy Park are two examples of the positive effect development has on
Brampton. Lastly, and some may consider most importantly, Brampton is a short
commute to Toronto via GO transit and a series of major highways.
Brampton
has a lot going on for itself. If you’re looking to buy property in
Brampton, then partnering with an experienced real estate agent or team who
knows the city is your best bet. There are many agencies to choose from, but JN
Asensio is a firm who has planted itself in the heart of the city. Located in
historic downtown Brampton, the team of brokers and agents can help find the
best place to buy property. And with all these advantages, Brampton is
definitely a place to call home!