“Look to areas around St Clair and Lansdown, or Caledonia and St Clair,” suggested Steve Arruda, a Realtor at Keller Williams Neighbourhood Realty. “They have been overlooked for the past few years.”
The upcoming neighbourhood, known as Corso Italia, is Toronto’s most authentic Italian enclave, despite the fact that blocks of College Street actually bear the Little Italy name.
The latest figures from CREA show that the average house price in Toronto is $635,932, up 10 per cent from $577,898 the previous year. Parts of Corso Italia still come in below that number.
In the past, it has been a quieter neighbourhood, but with new access to the TTC via the St Clair corridor streetcar, a new urban streetscape in the form of old-fashioned street lamps and hanging flower baskets, as well as great restaurants and cafes popping up, the neighbourhood is booming – and is projected to continue to grow with additional housing developments and retail in the coming years.
“As the demographic changes with young professionals, we’ve seen cool and trendy shops and restaurants open up,” added Arruda. “That area will be just as expensive as St Clair in a few years.”
It’s no surprise that house prices in Toronto are reaching towering new heights, but if you’re working with a client on a lower budget, there are still a few affordable pockets to target.