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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Wednesday, July 31, 2019

Average cost of dwellings in Brampton rose significantly over last five years

The real estate market at Brampton is heating up, with reports indicating that the cost of buying or renting housing in the Ontario city has significantly increased over the past five years.

The Brampton Guardian tracked data from the Toronto Real Estate Board (TREB) for June and found that the average sale price for all types of dwellings in Canada’s ninth-largest city came in at $744,590 – a whopping 68.8% increase from the $454,558 average reported in June 2014.

The average price of a detached home in Brampton was $856,338, an increase of 61.3% from the $530,890 reported in June 2014. Meanwhile, semi-detached units have seen an increase of 68 to $674,629 last month compared to the $401,573 average five years ago.

As for rent prices, the average cost for a one-bedroom apartment listed with TREB agents hit a record $1,853 per month in the fiscal quarter between April and June 2019 – an increase of 46.4% from the $1,266 average in the second quarter of 2014.

While this is good news for the housing market, this may be bad news for minimum wage earners in the city. The Canadian Centre for Policy Alternatives (CCPA) found a renter would need to earn at least $27.40 an hour to afford a two-bedroom unit in Brampton, while adding a single person earning minimum wage would need to work at least 78 hours per week at $14 to afford the same.

MBN

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

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