If you’re looking to buy a home in the Greater Toronto Area, chances are you’ve considered this neighborhood. Anyone who knows Toronto knows that the Danforth is one of the most beloved areas. And a recent study by REW.ca also revealed that it’s also a hotspot for homebuyers.
The Danforth, also known as Greektown, was the most popular spot for potential home buyers for a few main reasons. Its accessibility through public transit and its proximity to downtown Toronto are extremely appealing to buyers.
Ian Martin, REW’s director of industry development and partnerships, said “Transit and being in the urban hub is very appealing and the Danforth and around the Danforth is demonstrating that with probably half those areas (in the top 10 most searched list) all around the area.”
The Danforth area beat out 2017’s most popular neighborhood Humber Heights. Both have a similar draw for homebuyers with plenty of single-family homes, both detached and semi-detached. The Danforth beats out Humber Heights when it comes to convenience and proximity to amenities such as dining, shopping, and leisure activities.
REW’s list also revealed the most improved neighborhood in the GTA in 2018. Newtonbrook East, located near Yonge and Finch, saw a 153% growth in home value. This area is very multicultural, with a heavy Korean, Chinese, Jewish, Russian, and Iranian population.
The data also revealed that homebuyers are most interested in three-bedroom homes, which is perfect for families. Most potential buyers are willing to spend between $1.25-1.5 million for this size house.
The second most popular area for buyers is Trinity Bellwoods. The large park in this area is a major draw for buyers as is its close proximity to the city.
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