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 Over the past year the prices are much more expensive, but the main jump is expected this year, as the commissioning of Highway 404 continuation will fundamentally change the accessibility of Keswick. During the last 2-3 years, Keswick is being actively built, all the infrastructure, required for a comfortable stay has been already built. The proximity of Lake Simcoe gives individuality to this area. There are beaches, golf courses, yacht clubs, a small ski slope, two ice rinks and a swimming pool. There are all needed shops on the plazas, modern schools have been built. The prices here are even more attractive. A large detached house may be bought for a price of around 430 thousand. Prices for townhouses start from 300 thousand. There are also completely unique small communities on the lakeside with magnificent houses, situated on huge lots, with a price from 700 thousand to over 1M. A combination of factors listed above attracts here not only people who buy for themselves but also investors, who have actively invested money in residential real estate and infrastructure for the last two years. Two large condo projects are being built on the lakeside. I think that in the next few years the city will change beyond recognition.

Demand for property in remote areas is very high. Those rush here, who buy property for the first time, as prices differ significantly from the areas that are closer to Toronto, where buying their first homes has become not possibly for many people. In addition, many people who purchased property 5-7 years ago in the Richmond Hill now have a very decent amount in equity of their property, allowing them to move to a more remote area to buy a house here, almost without or with minimal mortgage.  Also, every year the number of people working from home via the Internet increases. And the distance from Toronto does not frighten them. They gladly improve their living conditions and move to these areas .Popularity of these areas is growing and prices accordingly too. I would advise not to delay with purchasing for those who are now considering, because in the further it will be only more expensive. Especially now, when the first time buyers have an opportunity to buy a property with 0% down payment.

I will gladly help you to buy a property in one of these areas. I know the local market thoroughly as I do not just work here, but also live in Newmarket, and moving to Keswick this November. So call me and I will always help you with an advice.

Maxim Baginskiy

Real Estate Broker    


Published in Money World & Success. March, 2014.

Market of the GTA Detached Houses and Townhouses.

In early 2013, analyst’s opinions were divided. Most of them expected rise in property prices of GTA in line with inflation. Someone predicted cessation of growth and price stability, also there were those who expected the fall, citing the upcoming stricter rules for mortgage. Only some analysts have asserted that prices will continue their active growth. So what do we see? In the first quarter of 2013 market really waited. The number of sales was insignificant and prices were in place. With the coming of spring buyers tired of waiting and the market became more brisk sharply gaining momentum. This rally, despite the forecasts of most analysts, continued throughout the year, with only short stops. Summing up the past year, we see that the real estate market not only didn’t sink, but also made a significant breakthrough. In many areas of GTA price increase was more than 10% per year. And this is against the background that the rules of mortgage issue were changed several times during the year that clearly had been done to curb property prices.

This January we have traditionally expected performances of leading analysts, bankers, real estate experts. So what have we heard this year? Analysts' opinions are more monotonous In comparison with last year. Already almost nobody expects the landslide of prices. Major disputes boil down to how much prices will rise up in 2014. Most analysts predict a steady prices hike by 5-6% in annual terms. And we should take into consideration that these are average readings for Ontario and, most importantly, they include different types of properties. I think that for detached houses and townhouses this year we will see almost the same scenario as in the past, about 8-10% price increase. The key question is where the property is located. We can definitely trace the trend of largest price increase in remote areas of GTA, where prices are still available for most buyers. In addition, these areas are built in accordance with modern requirements, which have changed considerably over the last 10-15 years. Here you can find spacious, not overloaded schools. Lovely modern recreation centers with swimming pools and ice rinks. Great number of gyms, as well as the whole set of necessary shops, banks, government institutions. Generally everything for comfortable living. Not a small advantage is the fact that people living in these areas do not face the traffic jams in the morning and evening hours. I would recommend to pay attention on such areas as Aurora and Newmarket for those who is going to purchase property. In addition to comfortable living conditions in these areas investment component is clearly visible. The potential of price hike here is still quite large, it causes a combination of factors such as the convenience of location (travel time is not more than half an hour to Toronto along 400 or 404 highway ) , the new infrastructure , GO Train's station. In 2013, Newmarket came in the top 10 cities of Canada by a combination of factors that determine the level of life quality. At the same time it is still possible in Newmarket to purchase a large, detached house on a good lot for 530-570 thousand. Prices for not long ago built luxury townhouses vary within 420-470 thousand. Keswick area deserves special attention. At the end of the year the long-awaited continuation of Highway 404 opens, after what the traditionally popular among russian-speaking inhabitants Richmond Hill could be reached for less than half an hour from Keswick. And it will take you 10 minute’s drive to Newmarket.