Newmarket As The New Real Estate Haven

The Newmarket real estate market is flourishing especially since Toronto prices became unbearable and many people started looking for an alternative nearby. Of course, Newmarket, due to its proximity to Toronto (ca. 54 km away), became one of the main targets of buyers who cannot afford a place in Toronto.  Such a state of play also drove up the real estate prices in Newmarket and other nearby northern towns.
Statistics show that in the last two years prices grew rapidly in Newmarket as well, especially for detached houses which increased by 36%.  Just during this month, August 2017, the average sales price climbed to nearly one million dollars for an average house.

This is not a surprise given that Newmarket makes the Moneysense list year in and year out as one of the best places to live in, not only in the York Region but the entire country. This year, it is ranked as the 18th best place for new Canadians and 56th best place to live in. The quality of life in Newmarket is based on several elements that ensure the growing number of new people flocking to the town.

What Makes Newmarket Desirable?

First of all, the crime rate is one of the lowest in the country, which by itself attracts many potential residents. It is a peaceful small town, and that's why many families with children and retired persons like the neighborhoods and feel safe living in Newmarket. All those who lack the excitement of living in a big city can easily get to Toronto in 30-40 minutes by car. Newmarket is a tranquil oasis by definition, but it certainly has a lot to offer regarding big-city-like entertainment as well.  A series of good restaurants, cafes, bars, and pubs keep the nightlife vivid. Shopping in Newmarket leaves nothing to be desired; besides the Upper Canada Mall, many big and small shops on Main Street can surprise you with the variety of choice.

The town also counts numerous recreation facilities with pools, gyms, kid pools, hockey arenas (Recreation Youth Center, Magna Center, etc.). Newmarket also has a well-integrated public transportation network with buses and trains that connect the city with major centers like Toronto or Brampton and the wider community.
Newmarket is also known for its exceptionally good health care and is home to the Southlake Regional Healthcare Center which enjoys an outstanding reputation as a facility mostly focused on cancer, cardiac, and arthritis treatments, but also on other diseases and disorders. Unemployment is kept under 6% in the town which is below the average regional unemployment rate, and it further contributes to the town’s prosperity and its status as one of the well-off Canadian communities.

When it comes to rentals, the average rent is $1,178 which is immensely lower than in Toronto. Not only do you get more space for less money, but the town also keeps commercial and residence taxes under the average which saves money in the long run.

 As for buyers, the latest trend seems to be detached Newmarket homes which caused quite a whirlwind in the market lately and contributed to the increase in real estate prices. So, if you consider moving to the GTA, you should think about Newmarket which offers exceptional living conditions in a stable and ecologically-friendly environment, but it is also adventurous enough to take it up with the big cities. Since Newmarket is on the rise regarding rental and sales prices, you might want to act fast and check out available properties in the heavenly romantic place with big-city conveniences before prices go up again.