These Are the Neighbourhoods With the Cheapest Houses in Brampton
Homeownership used to be considered something of an inevitably for middle-class residents, even those who were working entry-level jobs right out of trade school, college or university.
There was a time when a single-family home in Brampton cost around $300,000, but it’s become virtually impossible to find a low-rise home for under $500,000 in the city--as well as other GTA cities--and that trend doesn’t look to be reversing itself anytime soon.
According to data from the Toronto Real Estate Board, the average home price in Brampton (all home types combined) reached $744,590 in June 2019. Homes aren't just expensive either--they're rare. In fact, real estate website and brokerage Zoocasa says supply and demand imbalances are becoming more problematic for prospective buyers.
“The Greater Toronto Area housing market has fallen back into its old pattern of supply and demand imbalances as sales climb from last year’s slump, yet supply remains flat. That’s led to an upward push on home prices and heating competition for buyers as more markets approach seller-friendly territory,” says Penelope Graham, managing editor, Zoocasa.
The situation isn’t any better for renters, either.
People are struggling to survive in a city where Brampton placed 10th on the list of 33 cities for the highest average monthly rent for a one-bedroom home at $1,643 but finished 16th for average monthly rent for a two-bedroom at $1,773. And, the situation—compounded by low inventory and ferocious competition between prospective tenants—does not appear to be improving.
But while homes--and even condos--are unlikely to become affordable (meaning shelter costs will only amount to 30 per cent of a household’s takehome pay) in the future, there are some neighbourhoods that boast less costly real estate.
Nikhil Oberoi, a sales representative with Cloud Realty, recently supplied inbrampton.com with some data that shows just how expensive some neighbourhoods are compared to others.
Here’s a look at the average house price (all home types combined) in various Brampton neighbourhoods:
Bram East: $806,478
Bram West: $752,929
Bramalea North Industrial: $666,750
Bramalea West Industrial: $341,000
Brampton East: $703,675
Brampton North: $563,175
Brampton South: $535,632
Brampton West: $610,438
Central Park: $576,221
Credit Valley: $887,820
Downtown Brampton: $532,050
Fletcher’s Creek South: $632,660
Fletcher’s Creek Village: $630,210
Fletcher’s Meadow: $726,746
Goreway Drive Corridor: $407,533
Heart Lake: $617,177
Heart Lake East: $667,096
Heart Lake West:$684,813
Northwest Brampton: $738,597
Northwest Sandalwood Parkway: $722,346
Northwood Park: $693,850
Queen Street Corridor: $339,061
Toronto Gore Rural Estate:$1,364,853
Vales of Castlemore:$960,844
Vales of Castlemore North:$1,033,000
Not unexpectedly, the neighbourhoods with the highest average home prices are Toronto Gore Rural Estate, Vales of Castlemore North, Vales of Castlemore, Credit Valley, Bram East, Bram West and Snelgrove.
More affordable neighbourhoods--where average home prices currently sit below $600,000--include Southgate, Queen Street Corridor, Goreway Drive Corridor, Bramalea West Industrial, Northgate, Madoc, Downtown Brampton, Central Park, Brampton North, Brampton South and Avondale.
Are you having trouble affording a house in Brampton?
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