Brampton's Booming Housing Growth

The end of year is quickly approaching and as Century 21 Millennium Inc. looks back at market sales and housing growth in our communities, it is apparent that Brampton, Ontario, is experiencing a growth in resale home transactions resulting in an astonishing $3.2 billion in sales volume this year alone!

For instance, from January to October of 2014, Brampton experienced over 7,400 in resale home transactions.  From January to October of 2004, Brampton experienced over 6,500 in resale home transactions resulting in $1.7 billion in sale volume.

With an average home price increase of 5.5 per cent since October 2013 – October 2014, and a total population of 523,911 based on the 2011 Census, Brampton is steadily growing with a population estimated at over 800,000 by the year 2031.   

 

Did you know?  Brampton had the second highest growth rate among Canada’s 50 largest cities!

   

In the last ten years, Brampton’s home prices have increased by a total of 70.40 per cent with the average home prices as of October 2014 to be $443,735.  

 

  • The average New Home Prices (Single-Detached) in Sept 2014 was $ 592,660
  • The average Home Prices (Single-Detached) in Oct 2014 was $ 513,793

 

As of 2014, the Average Apartment, Rental/Lease rate, was $1,075 in Brampton for a bachelor.

 

  • On average a one bedroom goes for $1,248
  • On average a two bedroom goes for $1,599
  • On average a three bedroom goes for $1,650

 

There were a total of 154,663 private dwellings in Brampton based on the 2011 Census, up 18.24% or 23,860 dwellings from the 2006 Census.

 

  • It’s expected the number of dwellings will be over 230,000 by 2031.

 

The City of Brampton is approximately 60 percent built and will continue to grow in the upcoming 20 years.  Thinking of buying in Brampton? Here's how Century 21 can help.

Joanne Evans

Joanne Evans

Broker of Record
CENTURY 21 Millennium Inc., Brokerage*
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