Aurora Real Estate
Aurora Real Estate Market
Aurora Real Estate market has been booming for the past few years, and currently stands as one of the top preforming markets in all of GTA. Few reasons for this, but one of the main ones being the affordability factor, which has been attracting many first time buyers who are looking to purchase a home. Let’s take a look at what this town is all about.
Quote from town of Aurora’s web site: ***The Town of Aurora is a scenic community located on the rolling hills of the Oak Ridges Moraine in the “heart of York Region”***. Well, those who live here know and appreciate everything that this town has to offer. Aurora allows for easy access to the Toronto downtown core (via nearby highways or GO train), has all of the amenities of a developed urban centre, and accomplishes all this while maintaining a small-town feel. Average family income in Aurora is one of the highest in the country, standing at nearly $160,000, making it among the highest in the country.
It all Started in 1795 when the first house in Aurora was built along Yonge street, and by 1853 with the established railway it became an important center north of Toronto. Today Aurora is a prosperous town with an established commercial and industrial base. It is home to Magna International and State Farm’s Canadian Head office. Aurora’s population stood at 53,000 people (95th highest in the country) in 2011 and is expected to rise to 70,000 by year 2020. The town’s growth in population from 2001 to 2006 was 11.7%, which is well above national averages. English is the first language for nearly 74% of the residents. That is followed by Italian, Russian and Farsi (Persian) languages, which are native to 2.4%, 2.3% and 1.7% respectively. These numbers, however, aren’t the most recent and new developments are seeing large amount of immigrants flocking to Aurora, making it much more multicultural than what it was only a decade ago.
Aurora is located on Oak Ridges Moraine Green Belt, which essentially restricts large portions of the town’s land being used for any sort of developments. These lands are preserved for natural habitat and consist of forests, ponds, lakes and so on. This makes Aurora a very green town with tons of greenery located within the town as well as over a dozen York Region Forests (with hiking trails in each) are located within 10-15 minutes from the town itself.
Aurora is a perfect place for families. Large area is covered with parks, such as Sheppard’s Bush and the Aurora Arboretum with hiking and biking trails, beach volleyball, soccer fields, baseball diamonds and children playgrounds. With two large leisure complexes Aurora offers multiple activities for all ages from infants to seniors. Even wintertime is a lot of fun here with cross country skiing, tobogganing and a Santa Clause parade. Education wise you are sure to find a school in you neighbourhood with 11 Public Schools, 2 Secondary Schools and 9 Catholic Schools.
How is Aurora Real Estate performing?
Aurora Real Estate has been booming in the past several years, and that largely has to do with the prices in the south end of York Region and Toronto overall. Compared to south parts of Richmond Hill, you could find a similar home in Aurora for as much as 25% less. This along with other factors mentioned earlier has been an important indicator in driving prices up in recent years. Areas that are currently rapidly developing are in the neighbourhood of Bayview Avenue & Wellington Street East. As part of the town’s official plan, the municipal government is looking at an expansion of a commercial corridor in the neighbourhood, which will create up to 6000 jobs. Along Yonge Street in 2010 another plan was approved. Named the Aurora Promenade, it sets the redevelopment of Yonge & Wellington neighbourhood to accommodate intensification in this rapidly growing town. Currently, that area is the most congested in Aurora.
Aurora, from East to West, and from North to South, offers incredible opportunities for anyone looking to live or invest in this great town. It offers so much to choose from, yet remaining within city’s reach. Some due diligence is advised when looking for a property that will yield higher returns, but the town is an excellent choice for anyone who is thinking of buying/moving there. Well, hope you enjoyed reading my article on this town, and if you have any questions about Aurora Real Estate, don’t hesitate to CONTACT ME, I am here to help!
Subscribe to our real estate newsletter
- Bidding wars – Love Them? Or Hate Them?
- Toronto Real Estate “Stock Market”
- Why Buying a Condo is likely NOT in ‘Your’ best interest!
- Greater Toronto Area Spring 2014 Market Report
- Tips For Landlords on Finding the Right Tenant
- 5 Years Later – How & Why Canada avoided the Housing Market Crash
- Too Much Debt?