The New Hamiltonians

[LikeHamilton]

The New Hamiltonians

BY STUART BERMAN | PHOTOGRAPHY BY DAVE GILLESPIE | JUNE 21, 2017 | Toronto Life

Diehard Torontonians who’ve had it with tiny houses and giant mortgages are moving to a refuge of space, quiet and $500,000 homes. Why Hamilton is the future of Toronto real estate

For many people, the future of Toronto real estate is in Hamilton. The city has become an oasis of value and space, where properties list for roughly half of what their Toronto equivalents would, where there’s a bounty of detached houses with sprawling yards, where you can get the big-city experience at a discount. The average price of a home in the city of Hamilton is $541,720—a bargain compared to Toronto, where the average is nearing the million-dollar mark. People are buying into something you just don’t get in Oakville or Burlington: the opportunity to become part of a historic city, not a suburb, that’s undergone a dramatic grassroots transformation over the past few years. In the first quarter of 2017, 23 per cent of people who bought homes in the Hamilton area were from the GTA.

http://torontolife.com/real-estate/the-new-hamiltonians/