According to the Toronto Star February 2012, new detached homes in Durham Region offer excellent value on a price per square foot basis, a measure commonly used in highrise condominiums.
In Durham Region, the average price of a new detached home is $414,296. That gets you 2,243 square feet of living space (plus basement) on a 40-foot lot — all for the equivalent unit price of $185 per square foot.
By comparison, the average new detached home in Halton costs $660,430, offers a little more living space than detached homes in Durham —averaging 2,714 square feet, or $243 per square foot — but sits on a smaller 38-foot lot.
The average price of a detached home in Peel is slightly higher than in Halton, at $686,050. This gets you more space, averaging 3,086 square feet ($222 per square foot) and more land, with a 43-foot lot.
York Region is where new homes are the biggest and most expensive. On average, a new detached home in York Region is 3,102 square feet (plus basement) and sits on a 45-foot lot. New homes with larger lots and more living space also come at a higher price. The average price in York Region is $801,287 ($258 per square foot) — the highest in the GTA.
Durham has the lowest prices for new homes in the GTA. So if you are looking for the best value, Durham is the place to be.