Booming Neighbourhood: The Beach [Guest Post]
Few neighbourhoods did as well as the Beach in 2015. Although most of us have visited one of Toronto’s beaches, you may wonder why the area is seeing so much real estate action.
The history
The Beach is known for being a strong community with large, awe-inspiring Victorian homes. But how did this community get started?
Over two centuries ago, small villages and settlements had popped up in the area, prompting rail and stagecoach service to the area. By the mid-nineteenth century, the Beach had become a summer hot spot, allowing the Toronto masses to visit the area as a summer resort. Businesses sprung up from there, and the population grew quickly.
Local government bought land to produce commercial-free areas; several were established, like Beaches Park in 1932, with a public boardwalk and the many public beaches we know today.
The numbers
In November alone, there were 44 sales—an outstanding number for a relatively small area. Of these, 32 were houses—12 detached, 19 detached, 1 row—pushing the average sale price to $937,104, above the overall Toronto average.
Over 20,000 people live in the Beach, with a higher-than-normal average income. (This makes sense, considering the average Beach homes are well above the city’s average.
The draw
There are many reasons for this area’s recent success. The historic allure partnered with strong local business is something many buyers are searching for, and something that’s front-of-mind when thinking of the Beach.
Because many of the homes for sale in the Beach are detached and semi-detached, the area saw continued sales because of the overly warm weather. The Beach’s Victorian homes obviously attract people to the neighbourhood, as they’re only found in select areas around the city.
And although houses were the pull in November, the Beach’s boardwalk condos are nothing to scoff at. Overlooking the water and being close to community events are both strong selling features for city-dwellers.
Transit can be crowded, but there’s an express bus that bypasses the congestion every morning, making early commutes easier than from many other neighbourhoods.
The Beach is one of the strongest school zones, with exceptional schools from St. Denis to Balmy Beach; parents are willing to relocate to better educate their children. There are also tons of recreational activities year-round, from volleyball to ice skating, to keep residents happy and healthy.
The area hosts many large-scale events throughout the year, like TIFF screenings, community skates, and block parties. The most predominant and successful is the Beaches Jazz Festival—bringing in just under 1 million visitors.
The drawbacks
While the area has a lot to offer, there are a few things that may deter you. Transit in and out of the area can be a disaster. If you miss that express bus in the morning, you could be an hour getting to the centre of the city.
Homes have also experienced flooding problems over the years. Many of the houses in the area—especially near the water—were built on marshy land. Pair this with aging sewers and you have a real problem. Some residents have spent a lot making their homes flood-ready, so you may want to keep a moderate chunk of money available if you’re relocating to this area.
Conclusion
Overall, the Beach is a desired neighbourhood because the homes are beautiful, and living near the water and a number of parks is good for health and well-being. The community has name recognition for a reason—it’s an established neighbourhood with basically everything a buyer could ask for.
[This post was a guest post by Zoocasa]
