Everyone seems to want to live in the Beach. And why not, said local realtor Sally Cook, the charming community, which has a small town feel despite being located in a large urban centre, is both close to public transit as well as the water.
The proof is in the pudding as Cook sold her Beach home in just two days. And that was back in March 2008. This extreme demand, she explained, is pushing the cost of purchasing a house (especially a single detached one) in the Beach through the roof.
Recent figures from a July 28 RE/MAX Ontario-Atlantic Canada Return on Investment Report show that the value of single-detached homes in the E02 (Beach) real estate district are higher than ever. The report concluded that 11 of the 65 Toronto Real Estate Board districts reported saw an increase in the value of a single detached home in the first six months of 2009.
The Beach topped that list with the greatest increase in year-over-year value at 3.79 per cent. This brings the average price of a home in the area to $715,422 up from $689,278 in June 2008.
Read the full article “Beach living offers greatest return on investment” at TCN (July 30, 2009).