Port Credit and Applewood, Rathwood were the top two neighbourhoods forMississauga in overall increase in value of the average sale price for a detached home.
As home buyers looked to the 905 suburbs for more affordable detached homes, this resulted in an increase in value 2009 over 2008 of properties located outside of Toronto central city.
Buyers entered the market in 2009 due largely to lower interest rates, affordability of a home was also a major factor in the home buying decision and the suburbs were the obvious choice of where to raise young families. As the demand for more affordable homes increased so did the prices in these suburban neighbourhoods.
Top Ten Neighbourhoods by Average Price Increase for Detached Homes in the Greater Toronto Area.
| Ranking | District | Neighbourhood | 2009 Average Price | %change from 2009 |
| 1 | E12 | South Pickering | $358,493 | 9.4% |
| 2 | E11 | Malvern, Hillside, Rouge | 368,095 | 7.3 |
| 3 | E13 | North Pickering | 396,973 | 7.2 |
| 4 | W12 | Port Credit | 614,144 | 7.0 |
| 5 | E01 | Riverdale, Leslieville | 522,017 | 6.7 |
| 6 | N13 | Ballantree, Cedar Valley | 662,268 | 6.4 |
| 7 | N05 | Richmond Hill- north end | 574,642 | 6.3 |
| 8 | W14 | Applewood, Rathwood | 505,994 | 6.1 |
| 9 | N10 | Markham | 510,268 | 5.3 |
| 10 | C06 | Bathurst Manor, Armour Heights | 597,025 | 5.1 |
The top 3 neighbourhoods of choice were ones in which a family could still purchase a detached home for under $400,000.
The two Mississauga neighbourhoods that buyers demand resulted in a significant appreciation of the average price were the neighbourhoods of Port Credit and Applewood, Rathwood. These two neighbourhoods are located on the east side of Mississauga with an easy commute to downtown Toronto. These neighbourhoods offer large generous lots with lovely tree lined streets and quick access to amenities, highway and transit. The types of detached homes within the area of Port Credit is a mixture of smaller cottage style homes to newer luxury custom built homes. Port Credit with its access to Lake Ontario and small town charm within the City of Mississauga is an area that attracts buyers. Applewood, Rathwood is an older mature neighbourhood that offers convenience to downtown and amenities as well, with a very affordable average price compared to some of the other Mississauga neighbourhoods. This area was developed in the late 1960′s and early 1970′s the housing was the more traditional suburban style home of that time. Shipp was one of the predominant builders of this community.
Analysts are predicting little price appreciation year over year, 2009 to 2010 despite the strong start to the 2010 market.
Cheryl Kelly
Broker of Signature Service GMAC Real Estate
www.cherylkelly.ca
No related posts found
