The Growth Of Vaughan Real Estate
Although the real estate market has been hurt by a lack of buyer confidence causing housing sales to fall around the world, cities like Vaughan, Ontario the City Above Toronto," are noticing a fast recovery, creating a not often seen'seller's market.' The city of Vaughan has reshaped itself over the previous 20 years from an agricultural township to a fast paced urban center of a number of communities with a rustic charm. The population of Vaughan exploded 276 percent in the ten year timeframe from 1986 to 2006, and by 2031 there could be well over 1.5 million residents in the region.
The census results from 2006 show that Vaughan is bringing in many young residents, with 81 percent of the community under 55 years old with a median age of 35.9 years, which is quite a bit lower than the 39 year-old average for Ontario.~ Vaughan is attracting young residents, and based on the 2006 census the median age is 35.9 years with over 81 percent below the age of 55.} The appetite for single-family dwellings has exploded as a result, and even though 65% of the housing still consist of detached dwellings, studies by the York Region Planning Department show there is a consistent shift in condo apartments and multiple-row house construction in the last number of years.
Studies also show that the average median salary of Vaughan residents is 31 percent higher than the Canadian average, and as a result the housing values are usually a bit more than in nearby Toronto. The effect of this can also be seen in Markham homes for sale as well which has also seen an increase in popularity from purchasers and is great news for sellers.
One of the more popular attractions of Vaughan real estate is the proximity to Toronto's services, however without the high pace of an urban center. The area has tried to maintain a small town community feel by incorporating lots of green spaces inside well-planned neighborhoods naturally divided into communities that have up-to-date schools and civic centers. Purchasers are also enticed by the focus on public green areas surrounded the well planned communities with civic hubs with modern schools. As opposed to many 'bedroom communities,' Vaughan has a wealth of daycare and health care providers-- taking into account a new regional hospital -- and upscale shopping centers, restaurants and modern public recreational facilities.
Because of the flat land, a magnificent grid of well-paved four lanes roads connect the expressways and toll roads leading to Toronto from Vaughan's residential neighborhoods. The Greater Toronto Transit Authority, known as as GOT, provides inter-regional commuter trains and buses for rush hour, and the Viva Bus line has sleek Van Hool blue buses that service the York Region Transit service. The Vivastation features state-of-the-art ticket vending machines and 'smart' display alerts for passenger departures that connect to the Toronto Transit Commission (TTC) subway network.
Another rationale for the Vaughan real estate boom is the size of land still available for development. This is particularly alluring to those seeking to build a custom house or who would like to plan an estate from the ground up.
The wide open spaces also mean there is room to build new entertainment places like the Canada's Wonderland theme park located in Maple, one of Vaughan's districts, that brings in a diverse range of visitors to inject money into the local economy. Agricultural land makes up a large portion of open land and there is a move afoot to try and preserve it.
The additional communities that compose the city of Vaughan are Woodbridge, Klienburg, Markham, Concord and a part of Thornhill. Each region has a unique feel-- artfully mixing older houses, luxury neighborhoods and multi-family properties around industrial districts, shopping malls and business centers.