Resale condos are selling like hotcakes, but the biggest price increases may not be where you’d expect.
Properties in Oshawa and Burlington appeared multiple times in the Top 10, which also included condos in Hamilton and Whitby. But a luxury building in Yorkville was the only Toronto property to make the list, according to brokerage Strata.ca.
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Here are the properties that have appreciated the most in the past 12 months:
1) Burlington | Lakepoint Condos | 2190 Lakeshore Rd | +53%
2) Toronto | Pears on the Avenue Condos | 127-135 Pears Ave | +41%
3) Burlington | Vibe Condos | 5030, 5010, 5020 Corporate Dr | +40%
4) Oshawa | Wentworth Gardens Townhomes | 401 Wentworth St W | +39%
5) Hamilton | Kenora Townhomes | 250-262 Kenora Ave | +37%
6) Whitby | Sprucedale & Palisades Townhomes | 1-118 Sprucedale Way, 10-34 Palisades Crt | +37%
7) Mississauga | Glen Erin Drive Townhomes | 4171 Glen Erin Dr | +37%
8) Oshawa | Glen Street Townhomes | 1010 Glen St | +36%
9) Oshawa | Pearson Street Townhomes | 222 Pearson St | +36%
10) Oshawa | Dorchester Drive Townhomes | 540 Dorchester Dr | +34%
Strata.ca broker Cliff Liu thinks suburban babyboomers may be driving the price increases.
“Many seniors are cashing out on their suburban homes, and choosing to downsize in these same neighbourhoods,” says Liu. “So they’re also adding to the demand, driving up values even faster in these areas.”