Brampton

Brampton is a city located in the GTA with a population of 523,911. This suburb is
known as one of the quickest growing cities within the area, and that currently it’s
an especially attractive market for first-time and move-up homebuyers. And the
fact that housing is more affordable here than in many other parts of the GTA, yet
still easily accessible to anywhere you could want to go, makes everyone want to
see what the buzz is about in Brampton.

Currently affordability in Brampton looks very good when compared with other
areas such as Mississauga and Caledon, with the average price point sitting at
about $383,000. However, the Zum transit plan that’s just been introduced,
as well as LRT lines and three 400-highways all make it possible to get around
anywhere within Brampton, or anywhere else in the GTA. Brampton is also full of
condominiums, apartment buildings, duplexes, single detached homes, and most
other types of housing. This makes the city a great place for every type of buyer,
renter – or investor.

Just like other GTA cities, Brampton is divided up into a number of neighbourhoods
and communities, and each has its own characteristics as well as desirable housing
options. And while you’ll be able to find quality affordable homes in any area
of Brampton, Canadian Real Estate Wealth magazine has identified Heart Lake,
Snelgrove, and Fletcher’s Creek as the most popular parts of town. Fletcher’s Creek
is a relatively new housing development in Brampton, but it’s centrally located to
the city’s centre and much of the shops, boutiques, and stores.

Also unlike other parts of the GTA, single-family homes seem to be the housing
type of choice in Brampton; and their benchmark price has only grown 7.28 per
cent in 2012 when compared with 2011. The city’s vacancy rate and rental yield
are also 1.4 per cent and 3.3 per cent, respectively, making Brampton a fantastic
opportunity for investors, too.

While housing starts have slowed in other parts of the country, Brampton’s housing
starts have seen an increase, indicating that there’s plenty of growth yet to come.
CMHC also reported in the third quarter of 2012 that Brampton’s detached housing
will most likely outperform in the next several years due to the affordable prices
when compared with the majority of the GTA.