Looking for some real estate in Toronto for residential or commercial purposes? If so, you are probably staggered by the range of options that sit before you. The city of Toronto itself contains more than two million people, six areas which would be considered cities in their own right anywhere else in the world, and a wealth of business and recreational opportunities.
As if that were not enough, many people who are looking into relocating to Toronto have to look beyond the borders of the city itself and into real estate options in the surrounding area. Rising prices and prohibitive locations have given rise to a huge amount of growth in the communities immediately bordering the city. This area is in fact the fastest growing urban area on the continent, and generates a GDP annually which would rank it 16th in the world if the Greater Toronto Area was a country.
What this means, of course, is that the Greater Toronto Area has a lot of people living in it. When the surrounding communities' population is added to that of Toronto real estate, the area contains a staggering five and a half million souls, all of whom have to have a place to live and work.
That means there is a lot of real estate available in the Greater Toronto Area, and we are going to help you sift through it. The process is made much simpler by categorizing the area according to regional municipalities, as the provincial government has done. Let's take a brief look at each of these municipalities.
Durham Region real estate includes the major cities of Oshawa, Whitby, and Clarington. It borders Lake Ontario to the south, which makes for some beautiful waterfront real estate opportunities. Most of the region is suburban in nature, while the condo high-rise buildings common in downtown Toronto are a rare sight.
The region is primarily driven, economically, by the automobile industry. Other cities include Pickering, Ajax, Uxbridge, Scugog, and Brock.
Halton is located slightly to the north of the city of Toronto, and is one of the least densely populated regions in the area. Major cities include Oakville, Milton, and Burlington real estate, all of which are located in the southern part of the region. The area had an incredible growth rate of 17.1% in between the last two censuses.
Despite a large expansion in population, the Halton region remains the most rural of the GTA regional municipalities. In fact, the region is known for its well preserved and protected areas including the Niagara Escarpment. Even some famous faces have made quiet oases on Halton Hills real estate.
To the west of Toronto is the regional municipality of Peel. Peel is made up of three different cities, Brampton, Mississauga, and the town of Caledon. The inclusion of the first two cities mean that the Peel municipality is the second largest one in Ontario, after Toronto of course.
The high population of the region means that prospective buyers and renters have almost as many options in Peel as they do in Toronto. Mississauga homes, in particular, are quite popular with those looking to live a modern urban lifestyle.
Finally, the municipality of York can be found between Toronto and Lake Simcoe. There are close to 900,000 residents in this region. It includes the cities of Aurora, Markham, Newmarket, Vaughan, and Richmond Hill.
These are the districts that we will be taking a look at in further detail in this section of our site. The Greater Toronto Area is unique in the country in both its diversity and its opportunities, and there are real estate options here perfect for people who want to make a home away from the big city.