SmartLiving by Smartcentres . North York second-hand Condo appreciation ranking. The highest year has increased by 70%! For condo investors, in addition to downtown Toronto, North York is also another hot spot.Please Visit: SmartLiving by Smartcentres to Get Your VVIP Registration Today!
However, as the whole of North York is so large and the quantity of Condo is so large, what is the bamboo shoot plate with strong appreciation ability? Data show that the price of one of the most appreciated Condo buildings in North York has soared by nearly 70% in a year.
It is an indisputable fact that condominiums are sought after by investors and users. Although the Toronto Real Estate Bureau (Toronto Real Estate Board) recently released a report on the second-hand housing market in February, sales of all housing categories showed a double-digit year-on-year decline, but Condo has the lowest decline and is the only housing market where average prices still show a year-on-year increase.
According to the report, in the Greater Toronto area, including 416 and 905, a total of 1631 Condo units changed hands in February this year, a drop of 30% compared with the same period last year, with an average selling price of about $530000, an increase of 10% over the same period last year. At the same time, the sales volume of independent houses in February was 2169, down 41.2% year-on-year, and the average selling price was just over 1 million yuan, down 17.2% from the same period last year.
Jason Mercer, director of market analysis of the Real Estate Bureau, said that the upward pressure on high-rise housing is just beginning, coupled with the recent new regulations on home loans that limit the affordability of home buyers, as well as the shortage of housing supply, prices of relatively affordable housing categories such as condos and town houses are expected to continue to climb. He believes that in many communities in most areas, the opening volume will remain below the average, which will affect the affordability of buyers in the long run.
Nevertheless, in the eyes of investors, Condo still has good appreciation potential. It is believed that people with certain Condo investment experience, apart from investing in the city center, have owned several Condo units in the North York area for rental and long-term holding. In particular, the area with the Finch subway terminus as the radiation point is a traditional stronghold for investors to buy properties and collect rents, so that second-hand properties in the area have a price and a market in the market. However, not all second-hand prices have increased at the same rate.
Zoocasa, a property company, looks at more than 140 condominium buildings in North York, which must change hands in at least 10 cases in 2016 and 2017 respectively, compare second-hand transaction prices in the past two years, and come up with the top 10 with the largest appreciation in ruler prices.
Among the 10 condominium buildings with the largest increase in scale prices last year, the lowest performance was close to 40%, and the development with the largest appreciation was recorded, and the scale price soared by nearly 70% in a year. As mentioned earlier, the subway effect can make nearby buildings more valuable and marketable, and the apartment buildings near the Finch and Sheppard MTR stations are naturally hot items in the North York area and are also locomotives for appreciation. According to the analysis, eight of the top 10 apartment buildings in North York are located on Yonge Street, which is adjacent to two subway stations.
In fact, there are nearly 30 small communities in North York, ranging from Steeles, to the south to Eglinton/Lawrence Park, to the east and Victoria Park, to the west to Etobicoke,. However, according to the analysis, the two with strong appreciation potential are M2N (that is, Willowdale-Lansing community) and M2M (that is, Newtonbrook community).