York Property Management
The vibrant and contemporary borough of York is centrally located right within the heart of the Greater Toronto Area. The area which was once its city has now become a popular area for eccentric young adults, small families, and international tourists who frequent the Downtown Toronto area.
While York may not be an independent city or neighbourhood of its own, it still falls under the greater York Region, which today includes the neighbourhoods of Glenpark, Fairbank, Lambton, Stockyards District, Eglinton West, and Weston, among other more popular neighbourhoods/
The borough is home to an electric nightlife, and ample to see, do and enjoy. Seeing that the York area covers such a vast landscape, it’s quite difficult to pinpoint which neighbourhood, or corner of the York borough is more popular than others, as each of them caters to a unique set of people, culture, and contributes to the overall diversity of the City of Toronto.
York is one of the key tech and innovation hubs within the City of Toronto, with the greater York Region employing more than 600,000 of the city’s residents. Key industry-sectors for the York Region and that of York borough are agri-food, automotive tech, construction, financial, IT & communications tech, life sciences, and logistics, among others.
Information on York Neighbourhood
To better understand how York plays a big part in the overall development of the City of Toronto, we can look back at its history.
The original Township of York was established as far back as 1793 and was once known as Dublin. Almost 100 years later, the Township would become incorporated with the town of Weston and would be established under the York Region.
Between 1983 and 1998, York was its own independent city, and at the end of 1998, York was finally amalgamated to form the greater City of Toronto we have come to know today.
With an extensive history, and covering a large part of the Toronto Downtown area, York plays a vital role in the economic and cultural development of the city, and among its busy and dynamic lifestyle offerings, the borough features some of the best activities and public amenities the city has to offer.
The Humber River which snakes past the borough has become a popular destination for nature lovers, especially during the fall. James Gardens is one of the most popular parks in the area, among others which include Prospect Cemetery, Gladhurst Park, Keelesdale North Park, Cedarvale Park, and Raymore Park.
For those who want to indulge in the local cuisine, there’s plenty to choose from, with the most popular of course being Little Jamaica which features a selection of Caribbean-inspired cuisine. From local merchants, and craftsmen, breweries, wine houses, cocktail bars, restaurants, and even a small handful of big-box commercial stores – throughout York, you’ll find nearly anything and everything you could need.
With York home to such a wide variety of amenities and recreational facilities, it’s become a lot easier to get around by foot, than with a car. The area has an average walk score of 71.
Situated so close to the Greater Toronto Area, York has a few popular public transportation hubs which are mostly used by residents, and those who are passing through from neighboring boroughs.
Bus lines 56, 62, and 70 operate in the area as the main lines, with most bus stops located on Scarlett Road.
Then there’s train LE, which is used to get to further surrounding neighbourhoods, and finally, subway line 2, which is one of the main lines used for easy access to downtown.
Those who’d like to bike around would be glad to hear that York is relatively bikeable, with the average bike score being 71. This can change, depending on in which location you’re living within York, but generally speaking, most of the attractions are located within close proximity of the residential areas.
School District Ratings
Schools in the York borough are classified under the York Region and include more than 180 elementary schools and 33 secondary schools. Rankings for schools here vary, depending on which neighbourhood they are located, and can be anything from 3.5 up to 7.2.
Average Rent and Sale Prices
Because York is such a vibrant borough and area that has an endless amount of attractions, rental prices for apartments start well above CAD 2,000, with smaller, one-bedroom apartments averaging at CAD 2,100 per month.
Between a larger two-bedroom, and three-bedroom apartment, the average monthly rent is between CAD 2,700 and CAD 2,890 per month. Overall, housing, especially apartments have been in high demand, and since the return of in-office work, most of the apartments have seen prices increase within the last 12 months.
Housing prices too have been increasing around 18.6% year-over-year, with the average selling price currently at CAD 1.2 million. Depending on which neighbourhood you’re looking to purchase a house in, you’ll pay anything from CAD 1.0 million to as much as CAD 1.6 million for a decent-sized family home.
Investing in York
Toronto’s real estate market has been experiencing all types of ups and downs over recent years, but in the last few months, the buying market has relatively cooled off. Statistics show that housing prices in the York Region are appreciating by 7.9% year-over-year, which makes it one of the most popular and lucrative areas to purchase a property.
On average one-bedroom condo apartments can range anything between CAD 500,000 to around 660,000. The larger two-bedroom condos can cost investors between CAD 750,000 and more than CAD 1.0 million.
Some of the most popular neighbourhoods in the borough of York can offer lucrative investment opportunities for investors, but it’s advised to consult with realtors beforehand and make a visit to the designated property before buying.
Buttonwood Property Management
Although it may seem impossible to find affordable, and reliable property investment opportunities in York, seeing it covers such a vast area, Buttonwood Property Management understands the importance of having the right realtor team that can assist you throughout the journey.
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