House prices in many parts of Canada are rising amid rental decrease due to pandemic. Quite a disheartening news for most residents given that the job rate has also decreased and there’s a threat of probable economic crisis. Canada is one of the countries that are still fighting the virus while keeping the economy afloat.
Out of all towns and cities in Canada, Etobicoke was not hit that hard with the virus. There’s no surprise that city settlers have flown from Toronto or Montreal to Etobicoke. According to Huffington Post Canada, the country has felt such a great divide in the housing market. Low income earners are currently struggling to pay rent while the higher income earners are now looking to add more investments on their belt.
For the last 6 months, the country’s rental markets have been generous enough to decrease rental rates in aiding their tenants in supporting rent payments. Especially a lot of residents have lost their jobs due to the pandemic. However, the housing market has not followed the lead and kept increasing the price rate of their properties.
According to Condo Mapper, as of this month, sellers have been adding townhouses for sale in Etobicoke alone. There’s currently over 343 listings in the housing platform and more residents are encouraged to invest. Not all housing markets around Canada have increased their price rates. Etobicoke’s property market has been competitive with producing tailor fit properties for every buyer.
Here’s a random listing of townhouses for sale in different areas of Etobicoke:
- High Park (2 bedrooms and 2 Baths) – $769,000
- Humber Bay (2 bedrooms and 3 Baths) – $729,900
- Humberwood (3 bedrooms and 2 baths) – $559,888
- Islington City Centre (3 bedrooms and 2 baths) – $698,000
- Kingsview (3 bedrooms and 3 baths) – $649,999
Based on the townhouse listings sample presented, the housing prices may vary in different areas or neighborhoods in Etobicoke. For the past few months, the housing market has been competitive with their price offerings and perks for potential house owners. Compared to other major cities in Canada, Etobicoke’s housing market is reasonably priced.
Last year’s housing report, an average townhouse in Etobicoke could cost from $399,000 to $1,249,000. That could also depend on the type of home, developer and neighborhood. Still, the housing prices are looking good since it’s still within the average pricing range.
Residents are also considering moving out from larger cities, especially the ones that were greatly hit by covid-19. The housing market in bigger cities are highly priced and the covid cases are also increasing as well. Etobicoke has been a considerable choice for some people who are trying to avoid the city’s crisis.
To get more updates on the latest townhouse listings or condos in Etobicoke, you can contact Condo Mapper for more inquiries or virtually shop for their current townhouse listings on their website. Every week, new lists are added for home shoppers who are looking into moving in Etobicoke.