While downtown Toronto is seeing a surge in construction activity with the waterfront and Entertainment District adding new condos at a dizzying rate, building isn’t by any means limited to the core.
Some of the municipalities that make up the GTA are among the fastest growing communities in the country. According to the last census, Milton had the biggest population boom among all census subdivisions in Canada, moving up to 84,362 in 2011, a 56.5 per cent increase from 2006. While a community in Saskatchewan came in second, Whitchurch-Stouffville took the third spot nation-wide. A 54.3 per cent jump pushed its population up to 37,628.
Between 2006 and 2011, the average population growth in Canada was 5.9 per cent. But in the booming GTA, 17 of the 24 GTA suburbs saw their increase in residents grow beyond the country-wide average.
These suburbs also saw their growth in private dwellings largely outpace the national average: from 2006 to 2011, the number of private dwellings occupied by usual residents increased by 7.1 per cent. In the 905 region, 17 communities saw more growth than the Canada-wide average, while Oshawa tied the national rate.
What does that mean for the future of the region? The growth spurt doesn’t appear to be lagging any time soon, with the Province of Ontario estimating a 39.1 per cent increase in the population for the entire Toronto region, bringing up its numbers to 8.9 million by 2036. And as the population grows, so do the number of homes.
Just how many new homes will the region see? We used our Market Snapshot tool to find out. In Toronto-proper, there were 48,732 homes under construction as of May 26th. Out in the ‘burbs, where there’s a bit more land to build on and fewer condos going up, there were a total of 33,490 homes currently under construction in the surrounding 905 communities.
But the suburban communities around the 416 aren’t all seeing the same amount of activity. It’s apparent from the map below that the towns and cities touching the borders of Toronto are seeing the biggest boom in construction. Who’s leading the pack? Find out here:
But the suburban communities around the 416 aren’t all seeing the same amount of activity. It’s apparent from the map below that the towns and cities touching the borders of Toronto are seeing the biggest boom in construction. Who’s leading the pack? Find out here:
1. Brampton
2. Markham
3. Vaughan
4. Mississauga
5. Richmond Hill
6. Oakville
7. Ajax
8. Whitchurch-Stouffville
9. Clarington
10. Milton
Source : Buzzbuzzhome.com
Maziar Moini, Broker of Record - Home Leader Realty Inc.
300 Richmond St. W., #300, Toronto, ON M5V-1X2
