A new report revealed that 90% of Canadians love the neighbourhoods they live in, which raises the question, how do Torontonians feel about the neighbourhoods that they call home?
According to a new liveability report from RE/MAX, Canadian homeowners find value in certain qualities when choosing where to live, including things like access to green spaces or restaurants and entertainment. In fact, 91% of Canadians have at least one important liveability factor that’s very important to them when it comes to the neighbourhood they live in now or would like to live in, in the future.
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Not surprisingly, housing affordability came in at the top at 61% followed by walkability (37%), proximity to work (34%), low-density neighbourhoods (30%), proximity to transit (30%), and access to green spaces/dog parks (30%).
Given that affordability is the top liveability for Canadians, it lowered the overall liveability score for neighbourhoods in "hot markets" such as Vancouver and Toronto, despite both having high liveability rankings in other categories.
“Canada’s neighbourhoods are rich in liveability,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “Given the current situation, Canadians are craving access to their tight-knit communities and various neighbourhood features that contribute to their quality of life. I’m hopeful that our communities will soon bounce back and liveability, as well as the real estate market, will be restored.”
Here in Toronto, Housing affordability and low inventory continue to be an area of concern for local homebuyers, who range widely from households with and without kids, to luxury seekers and Baby Boomers and retirees.
According to RE/MAX, the Toronto neighbourhood of Claireville ranked as the 5th top neighbourhood in the country for suburban families and move-up buyers, while those looking to retire should consider living in the Bridle Path, as it was ranked as the 4th best neighbourhood for retirees.
City lovers should consider living near Ryerson, as RE/MAX ranked it as the 4th top neighbourhood in the country for those without kids, while Corktown is the 5th best place for those with kids to live.
Those looking to live lavishly could consider living in the West Don Lands neighbourhood, which is the 2nd most lavish neighbourhood in the country, while Claireville is the best neighbourhood for those priced out of the city, claiming the 5th spot overall.
Remax Liveability Report 2020
As for the most liveable neighbourhoods in Toronto, Corktown came out on top, followed by Kensington Market, and the West Don Lands to round out the top three.
For affordability, RE/MAX says the most affordable neighbourhoods in Toronto are Trinity Bellwoods, East York, and The Junction. These neighbourhoods are also among the most up-and-coming in the region.
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"East York has been a sought-after neighbourhood for a number of years, thanks to its very family-friendly atmosphere and proximity to downtown, while Trinity-Bellwoods and The Junction have experienced recent gentrification and an improvement in proximity to bike lanes and walking paths, independently owned retail, gyms, bars, and restaurants" reads the report.
10 Most Liveable Neighbourhoods in Toronto
- Corktown
- Kensington Market
- West Don Lands
- Bay Street Corridor
- North Riverdale
- Chinatown
- Danforth
- Grange Park
- Summerhill
- Alexandra Park
Looking ahead, RE/MAX says Toronto's livability is expected to continue improving in the next three to five years, based on the ongoing improvements in homes and local businesses.
"It’s become increasingly common for homes purchased in Toronto neighbourhoods to undergo immediate renovations, which has a positive impact on its entire respective area. Toronto has so many incredible amenities as is, so these aesthetic improvements make a big difference on the look of its neighbourhoods,” reads the report.
The 2020 RE/MAX Liveability Report includes data from RE/MAX brokerages. RE/MAX brokers and agents are surveyed on insights and local developments. Regional summaries with additional broker insights can be found at RE/MAX.ca.
