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As house prices in the Greater Toronto area are obviously too high compared with other areas, some people choose to flee Toronto and buy homes in other low-price and dynamic areas.
Chris Knighton, head of real estate consultancy Knighton Real Estate Advisors, says Niagara is one of the most popular areas for new home buyers.
Knighton says people choose the small town in the Niagara area near the Great Falls and leave Greater Toronto because of cheap prices, rich cultural life and a good community.
“due to the ability to work from home, the expansion of public transport from Niagara to Toronto has become a cost-saving option for many homeowners to move out of Greater Toronto,” he said. “
“We are seeing this trend among young people and young families. The Niagara area has space, convenient facilities and schools, which are needed for families to grow up in the metropolitan area. “
According to real estate statistics, the average home price in Toronto in 2021 is expected to be $974015. The average house price in Niagara is expected to be $597181, almost half that of Toronto.