Where Canadians Are Moving: Toronto

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With the booming condo construction and the amazing lifestyle Toronto has in store for its dwellers approximately three times people are moving to take advantage of the amazing neighbourhoods, higher employment, and luxury housing. 

We’ve analyzed the data about the home prices, employment, density, and distance. The main focus is domestic moves, however also considering the amazing lifestyle Toronto has in store:

1. Movers: Nearly 60% of the inhabitants of Toronto who are recently thinking about the move prefer renting over buying. However the ones who are considering buying homes for sale in Toronto are young professionals looking to making a quick purchase which compliments their lifestyle and accommodates everything about city living. The top neighbourhoods within Toronto include Bloor West Village, Kensington Market, Regal Heights,Chaplin Estates,The Junction, Carleton Village, Seaton Village, Roncesvalles, Central East York, Christie Pits.

2. Distance: The major difference the location makes for the movers in Toronto is the commuting distance from the subway line and the TTC in the area. One other factor that is gaining prominence is the parks in the area and the pet friendly atmosphere. As the majority of the movers in Toronto are young professionals looking to reach new horizons in their careers taking the big leap in the fast paced city life. Considering the above mentioned factors some of the major reasons that the prospective movers are taking into attribute when it comes to moving is 500 miles and West and Central neighbourhoods of Toronto are ideal.

3. Renting/ Buying: There is a fine line between people choosing to buy and or rent a property in Toronto. However considering the consistent migration patterns employment is one of the major reasons people are heading towards Toronto.

  • Condominium: Approximately 50% of the inhabitants who have moved around 5-10 years ago in the city and have been living around the western neighbourhoods of Toronto consider buying a condominium as the ideal investment. As even if they decide to migrate in the near future the have access to a life long asset which will keep appreciating in value. However the new movers consider renting ideal as along with a flexibility to keep moving within the city it also allows them to choose a new home every few months which helps them to explore the many option the vibrant city has in store.
  • Houses: New or old although there is a high demand very few houses in Toronto are available for sale. In addition to the availability the pricing also is not affordable for an average buyer, which makes renting the best option especially for families.

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