Gurmail Dhillon Sales Representative
Sutton Group Commitment Brokerage
Independently owned and operated
45 Woodbine Downs Blvd., Suite 3, Toronto ON, M9W 6N5
Perched on the edge of the Niagara Escarpment, a world biosphere reserve, you’ll find the Halton Region town of Milton, Ontario. In comparison to most of the other Greater Toronto suburbs, Milton is a small fish. Big hitters Mississauga and Brampton each have in the vicinity of half a million people while Milton is comparatively paltry at 72,000. The advantage of this is, of course, that if you choose Milton over these larger areas you’ll have more space to stretch out and less hustle and bustle to disrupt your day. It may not remain this way for long, however, since Milton has been one of the fastest growing communities in Canada since 2001.
As a suburb that retains its original small-town feel, most of the available real estate in Milton comes in the form of single family detached homes, and with its increasing popularity as a commuter destination we can expect more single family homes and condominiums to be built in the coming years. Industrial development shouldn’t be ruled out, however. Milton has one of the lowest tax rates in the GTA, which has attracted enough businesses to develop a significant portion of commercial land. The town’s growth in this regard is expected to continue, so the sooner an investment is made on these properties the better the deal a buyer can expect.
Businesses looking to set up operations will be assisted in every way possibly by the municipal government, who are extremely interested in developing their economic base. However, if you’re buying a private home, you’re on your own. For a single-family detached home without waterfront views the average price is just over $347,000. Obviously a waterfront location would boost this figure by perhaps several tens of thousands of dollars. Duplexes are a more economical option at around $247,000 and a town or row house is more economical still at $231,500. The average condo in Milton is priced at around $190,000. These figures do tend to fluctuate depending on the market conditions.
Location, or the neighborhood in which the property is located, has a great effect on the price in many places, but Milton is so residential and suburban that often the difference isn’t very noticeable. You can find homes in older more eclectic neighborhoods that existed before the building boom, but the majorities are located in new planned subdivisions like Hawthorne Village, which was declared “Community of the Year” by the Greater Toronto Homebuilders Association. Four of these neighborhoods have been constructed since the Lake Ontario pipeline was completed and more are always on the way. In terms of industrial development, most of these properties are located near the bottom of the escarpment.