Are you looking to buy in Etobicoke but unsure where to start looking? Etobicoke is home to a number of fantastic neighbourhoods. Whether you’re young professionals, downsizing seniors, or an expanding family, there’s something for everyone in this ever-evolving area. And we’re here to help you with your search by revealing our list of up and coming neighbourhoods in Etobicoke.
Aside from telling you about the current hot locales, we’ll first explain the various criteria to consider when looking at which neighbourhoods can be regarded as up and coming.
The Signs of an Up and Coming Neighbourhood
So what makes a neighbourhood up-and-coming? Some of these factors will be obvious but you might be surprised by others.
1. Major Renovations or New Builds Are Underway
This can be evident in a variety of forms:
- Smaller homes are being torn down and new builds are appearing: Edgecroft Road, York View Drive, and Ambleside Avenue in The Queensway — where the lots are big — are prime locations for large executive new builds.
- Home owners are “topping up” their bungalows versus moving: In New Toronto, south of Lakeshore, many homeowners are deciding to top up their bungalows in lieu of relocating. As such, these homes don’t come on the market often, so it may be a good time to snatch up one of the original bungalows before they become unaffordable.
- Undesirable commercial properties are being replaced by mixed use buildings: In The Queensway neighbourhood, west of Royal York Road and south of The Queensway, the infamous strip club, The House of Lancaster, has closed, and residential townhomes are planned for the site. This is good news for the streets in The Queensway surrounding this area.
2. Its Close in Proximity to Other Popular Neighbourhoods
Some neighbourhoods are the ones that everyone dreams of living in, and the prices reflect this. These popular neighbourhoods tend to have great amenities, restaurants, shops, and schools. In Etobicoke a few of the very popular neighbourhoods are Edenbridge-Humber Valley, The Kingsway, and Sunnylea.
However, neighbourhoods in close proximity to these popular areas are a great option. You’ll have easy access to the amenities available but won’t have to pay the premium price.
3. Young People Are Moving Into the Neighbourhood
The demographics of each neighbourhood are different and change with time. One indicator of an up and coming neighbourhood is young professionals moving there. Young people invest in their homes. These investments drive up the home values over time.
4. Trendy Restaurants and New Shops Are Appearing
Restaurant and store owners want to be located in spots where they will have local clientele, but not in areas where rent prices are out of control. They often look for the up and coming areas as ideal locations.
5. Transportation Improvements Are Scheduled
When the city announces transportation improvements, they often positively impact certain areas, significantly reducing the commute time to downtown. The shorter commute will make the neighbourhood much more desirable. For example, properties in communities with access to the new Metrolinx Pearson Union Express should increase in value over time. This includes homes in the Humber Heights neighbourhood of Etobicoke.
Additionally, the Islington City Center – Six Points neighbourhood is going to see improved transportation, shops, and amenities with the planned changes to the Six Point Intersection.
Plus, the proposed Parklawn Go Train station will positively impact the transportation options for Humber Bay and the Parklawn/Stonegate neighbourhoods.
Our Top 6 Up and Coming Neighbourhoods in Etobicoke
Based on our criteria, here are our favourite up and coming neighbourhoods in Etobicoke:
The Queensway is located in close proximity to the popular neighbourhoods of Sunnylea and The Kingsway. Currently, the median price for a bungalow in The Queensway is around the mid $900,000’s.The lowest price is around the $800,000 mark and the highest for a fully renovated bungalow is $1.1 million.
Certainly not cheap but it’s more affordable than the popular neighbourhoods of Sunnylea and The Kingsway. Driving through tis neighbourhood, you’ll see that many of the bungalows are being topped up or torn down entirely and replaced with new builds. that are selling for between $1.8 – $2.2 million.
2. Etobicoke Waterfront Communities – Mimico, New Toronto, Long Branch
This neighbourhood has been on the list of up and coming neighbourhoods in Etobicoke for many years. However, in the last 5 years, we’ve seen the most significant transformation including trendy restaurants and shops popping up along the Lakeshore. Many homes have been renovated with second storeys and new builds are starting to be prevalent on many of the prime streets.
Young professionals are picking this hood because the ambience created by the waterfront and it’s a real sense of charm in the neighbourhood. The bungalows close to the waterfront don’t come on the market too often and when they do, they typically sell quickly. Average prices are in the mid $800,000’s with the toppers or new builds going for between $1.1 – $1.5 million.
3. Six Points – Islington City Center
Six Points is going through a massive reconstruction. When it’s completed, this condo neighbourhood will have many new attractive amenities including shops and restaurants. When you combine this with the fact that it’s walking distance to the subway it’s got great potential. Today the condos range in price from the low $300,000’s up to the mid $600,000’s.
The improved commute to both downtown Toronto and Pearson Airport with the Pearson Union Express make the Humber Heights neighbourhood more attractive.
This community will be able to take advantage of the new proposed ParkLawn Go Train station. Additional transportation options will make this area more attractive. We are already seeing many of the original bungalows being torn down and replaced with new builds. Some Parklawn new builds are selling for almost $1.3 million.
This area is already very popular with young professionals and downsizers. Many of the condos in this area have gorgeous waterfront views. The median condo price is around the $600,000 mark with the lowest price in low $300,000’s and the highest price up to $2 million. With the addition of a new Go Train stop for this area, it will make Humber Bay that more attractive.
Do you need help identifying up and coming neighbourhoods in Etobicoke? Your ThompsonSells team is here to help you with this and any other issues you might have during the buying process. Get in touch today!
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