Economic growth remains stable and performs as expected in the GTA

Looking back at the interesting summer, Trimart Research Corporation is reporting that the economy is growing as expected. Recently, the Bank of Canada announced its overnight rate at 0.5%, and since the July 2015 Monetary Policy Report, economic growth has been stable. At the end of summer, housing starts hit the highest trend since September 2014, with construction in Ontario jumping quite a bit. Overall, the GTA’s housing market has continued to maintain steady growth, despite record low inventories, and will only improve through the busy fall season.

Listed below are a few notable low-rise sites of the last month:

U.C. - via Tribute

Placing first on this week’s Trimart Hot Spots report is U.C. by Tribute Communities. This Oshawa community is no stranger to the Hot Spots report; last month there were 18 sales at U.C. The community features a variety of townhomes ranging from 1,782 to 1,986 square feet and prices start from just $358,990.

Westfield - via Great gulf

Coming in second with 16 sales last month is Westfield, a new Brampton community by Great Gulf. Westfield features 20’ townhomes, 24’ semis, and 34’ and 38’ detached homes. There is a new collection of semis coming soon and the detached homes are sold out. The townhomes range from 1,595 to 1,860 square feet, with prices starting at $494,990. You may have noticed that the townhomes in Brampton are starting at a higher price point than the ones in Oshawa, but that’s just the price you pay for a new home in the most popular and fastest growing city for new low-rise homes.    

The Preserve - via Mattamy Homes

Taking the third spot with 15 sales last month is The Preserve in Oakville by Mattamy Homes. The 38’, 45’, and 50’ detached homes have sold out, but there is still a great selection of two-storey townhomes and 34’ detached homes, ranging from 1,583 to 2,711 square feet. Prices are starting at $588,990. These townhomes will cost you a little more than the Brampton ones thanks to Oakville’s quickly developing north neighbourhood and the town’s prestigious reputation as an affluent area.

Seven Oaks - via Fernbrook

Speaking of luxurious Oakville communities, Fernbrook Homes’ Seven Oaks community had 10 sales last month. The townhomes at Seven Oaks have sold out, but there are 38’ and 43’ detached homes available. These incredible homes range from 2,469 to 3,791 square feet with prices starting at $969,990 and reaching to more than $1.1 million.

Eby Estates - via Reid's Heritage Homes

For a more affordable option but still high quality, you should check out Reid’s Heritage Homes’ Eby Estates community in Kitchener. This community saw eights sales last month. Eby Estates features 36’ and 40’ detached homes ranging from 1,838 to 2,660 square feet, with prices starting as low as $438,100.

All information courtesy Trimart Research Corporation.