Which Toronto Intersections Are The Most Strategic For Investors?
Which Toronto Intersections Are The Most Strategic For Investors?

Strategic investing in Toronto’s condo market – what are prices around the city’s key intersections

The following is a special guest post researched and developed by TheRedPin

For strategic investors eyeing the high-rise condo market and looking build long-term equity outside of single-family homes or more intimate townships – the age old adage location, location, location means getting granular.

How granular?

Rather than simply looking at a popular neighbourhood or street in a city’s downtown core, you’ll want to consider focusing on and picking out individual intersections to invest in.

Specifically, the handful of key street corners that offer direct access to multiple transit lines and popular shopping, dining and entertainment destinations.

With that in mind, we chose to focus on Canada’s largest metropolis, Toronto, by mapping out condo prices within a five minutes walk of the city’s top intersections. Essentially areas that connect directly to the subway (or multiple streetcar lines), the Path – (Toronto’s Downtown Underground Pedestrian Walkway) when possible as well as downtown entertainment, all while receiving more foot (and car) traffic than anywhere else in the city.

Given that Bay and Yonge street are Toronto’s hottest areas to invest, as they serve as the city’s spine, you’ll find the majority of our analysis covers a tiny bundle of bustling street corners in the very core.

While we did look at prices of both one bedroom and two bedroom condos, single room units offer the most bang for your buck in terms of rental returns while requiring less be put down and lower maintenance fees.

Condo investments in the City of Toronto have seen year-over-year gains persistently hover around 5 percent, with units in central Toronto often cracking the 7 percent mark according to the Toronto Real Estate Board.

While investors do forgo the benefits of owning land in a condo purchase, the lower price points of high-rise units coupled with easier maintenance and the continual influx of renters into the city – and condos show their true investment potential.

Condo prices in Toronto’s key intersections

Average prices for all 1 and 2 bedroom condos sold within a 5 minutes walk of the city’s major intersections have been mapped out. To view median prices of units, simply click on the arrows under each pin:

 

View the Map in Full Screen By Clicking Here

The figures cover year-to-year sales data, from August 2014 to August 2015.

Based on the data, we found a handful of interesting stats, including the fact that units located along Bay Street sell for an average of $40,000 more than those stretching along Yonge Street. Moreover, there were 40% more one bedroom units sold within Toronto’s key intersection than two bedrooms condos – a clear indication of the target demographic. Young professional renters who want to live steps from everything the city has to offer.

Perhaps the most eye-catching fact was over the last year, condos located within five minutes walking distance of these intersections sold for an average of $537,702 – which is almost $150,000 more than the city-wide average during the same period ($398,858).

A list of prices by intersection are below (Look at the very large difference between one bedroom and two bedroom prices):

 

Yonge and Eglinton

One bedroom: $402, 924
Two bedroom: $629,644

St. Clair and Yonge

One bedroom: $439, 064
Two bedroom: $868,537

Bloor and Avenue

One bedroom: $570,198
Two bedroom: $1,497,679

Bay and Bloor

One bedroom: $439,453
Two bedroom: $1,174,562

Yonge and Bloor

One bedroom: $416,968
Two bedroom: $964, 813

Yonge and Wellesley

One bedroom: $414,351
Two bedroom: $601,952

Bay and College

One bedroom: $428, 826
Two bedroom: $611,950

Yonge and College

One bedroom: $422,928
Two bedroom: $602,081

Yonge and Gerrard

One bedroom: $425,658
Two bedroom: $611,381

Yonge and Dundas

One bedroom: $423,121
Two bedroom: $616, 219

Dundas and Bay

One bedroom: $422,088
Two bedroom: $637,589

Dundas and University

One bedroom: $382,148
Two bedroom: $531, 307

Yonge and Queen

One bedroom: $368,638
Two bedroom: $512,033

King and Spadina

One bedroom: $389,231
Two bedroom: $609,180

Front and John

One bedroom: $376,099
Two bedroom: $609,344

York and University

One bedroom: $421,202
Two bedroom: $753,164

Bay and Queen

One bedroom: $383,909
Two bedroom: $697,371

Bay and Adelaide

One bedroom: $393,957
Two bedroom: $688,327

Bay and King

One bedroom: $425,537
Two bedroom: $734,744

Bay and Wellington

One bedroom: $412,172
Two bedroom: $666,601

Yonge and King

One bedroom: $387,813
Two bedroom: $671,844

Yonge and Adelaide

One bedroom: $389,327
Two bedroom: $637,157

King and Jarvis

One bedroom: $369, 562
Two bedroom: $608,184

Richmond and John

One bedroom: $399,888
Two bedroom: $692,911

Front and John

One bedroom: $376,099
Two bedroom: $609,344

York and University

One bedroom: $421,202
Two bedroom: $753,164

 

The above is a guest post by TheRedPin, a full service real estate brokerage that carries the largest database of residential listings in the Greater Toronto Area. Sign up to their newsletter simply by clicking here.

Which Toronto Intersections Are The Most Strategic For Investors? was last modified: September 22nd, 2015 by Don R. Campbell
 

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