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In contrast to many areas looking at a downturn in residential sales due to a lack of consumer confidence, hotspots like Vaughan, Ontario, the "City above Toronto" are actually seeing a 'seller's market' due to fast paced expansion. The city of Vaughan has reshaped itself over the previous 20 years from an agricultural township to a fast paced urban hub of a number of communities with a rustic feel. The population of Vaughan grew 276 percent in the ten year timeframe from 1986 to 2006, and by 2031 there may very be well over 1.5 million residents in the region.
The census numbers from 2006 reveal that Vaughan is bringing in a lot of young residents, with 81 percent of the city under 55 years old with a median age of 35.9 years, which is significantly smaller than the 39 year-old average for Ontario. Even though up to 65% of the houses in Vaughan are single-family detached buildings, high end multiple-row houses and apartment condominium are increasingly more popular, based on research by the York Region Planning Department.
The median household income is 31 percent above the national average, as a result Vaughan real estate ranges more than the average price of residences in Toronto.The spin-off of this can also be felt in Markham homes for sale as well which has also seen a rise in demand from home buyers and is welcome news for sellers.
One of the more popular attractions of Vaughan real estate is how close it is to Toronto's services, however without the hustle and bustle of an urban center. Purchasers are also attracted by the emphasis on public green areas set amid As opposed to many 'bedroom communities,' Vaughan has plenty daycare and health care services -- including a new regional hospital -- and high end shopping centers, restaurants and well-maintained public recreational facilities.
As the population in Vaughan has increased, the infrastructure has kept up with the demand for access to Toronto for the daily traveler, and there is an impressive grid of four lane streets that connect the highways and toll roads to city streets and thoroughfares. The local Viva bus system has a fleet of stylish Van Hool buses that connect transportation providers at the 'Vivastation' which features new ticket machines and 'smart' monitor to inform passengers of all departures. The Greater Toronto Transit Authority, known as as GOT, supplies rush hour commuter trains for stops in Vaughan and the Toronto Transit Commission (TTC) has bus routes that connect to subways and RT stations in Toronto.
Another rationale for the Vaughan real estate rise is the amount of land still procurable for development. Because Toronto has such a tightly packed population, there are less occasions to custom build houses and estates in the immediate area. The wide open areas also demonstrate there is potential to develop new attractions like the Canada's Wonderland theme park located in Maple, one of Vaughan's districts, that brings in a wide range of visitors to boost the local economy.
A few of these open spaces are zoned as agricultural land and there is some worry that soon it will all be developed The additional communities that make up the city of Vaughan are Woodbridge, Klienburg, Markham, Concord and a part of Thornhill. The extraordinary flavor of each area is a result of the blending of older family properties, upscale master-planned areas and multi-family homes that are combined with industrial sections and retail centers.
The market is always in flux and Stefan Hyross is a writer for both Vaughan real estate in addition to keeping track of the property market in general. If you are intent on finding out more or would like to explore Markham homes for sale please visit the website.
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