Finance
Where to Buy Real Estate in Canada 2023: Halton Region, Ont. – MoneySense
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The Halton Region is located in the Golden Horseshoe in Ontario and consists of Burlington, Oakville, Milton and Halton Hills. In recent years, the area’s population has grown to 600,000, including many newcomers to Canada and people moving from Toronto.
Best places to buy real estate in Burlington, Oakville, Milton and Halton Hills
In the table below, you’ll find the top neighbourhoods for real estate purchases in Burlington, Oakville, Milton and Halton Hills—the Ontario region known as Halton. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.
Source: Zoocasa
How to read the table:
- Benchmark price 2022: The composite benchmark price as of Dec. 31, 2022. It represents all property types, including attached and detached homes, townhouses/row units and apartment units.
- 1-year, 3-year and 5-year growth: The percentage increase or decrease in the composite benchmark price (all property types) over each time frame.
- Value, economics and accessibility: These neighbourhood characteristics are each scored on a scale of 0 to 5, with five representing the most value for your money, high levels of income and education, and ease of travel by foot, bike and public transit.
- Children: The neighbourhood’s percentage of households with kids.
- Read the detailed methodology behind our rankings.
What’s happened in the Halton Region real estate market?
Halton Region, like much of Ontario, went through some big real estate price fluctuations in 2022. The average home price peaked in February at $1,530,224, before rising interest rates took their toll. By December, the average price had fallen to $1,188,341—a drop of more than 22%.
“The 2022 real estate market experienced many changes,” explains local Zoocasa real estate agent Alex Kupiec. “Following a strong start to the year, interest rates began to rise and prices dipped between March and April, and they continued to decline until we hit the bottom in December.”
As home prices fell, buyers in Halton Region became more interested in detached homes—the most expensive property type—as long as they were fairly priced. “In the first few months of 2022, buyers favoured townhouses, but as prices began to come down, the interest shifted to detached houses,” says Kupiec. “Once buyers and sellers alike adapted to the new real estate market and adjusted their expectations, properties that were priced properly did move.”
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