Located halfway between Toronto and Hamilton, Oakville is a beautiful suburban waterfront town in southern Ontario. Oakville is for people who want to get themselves closer to nature but at the same time don’t want to get too much away from the hustle and bustle of the city. If you’re one of those people seeking peace and prosperity at the same time, buying a condo in Oakville could just be the perfect decision for you.
In recent times, the town that has Avancez (Go forward) as its motto, has started living up to it. We’ve seen a solid up tide as far as the business and job opportunities in Oakville is concerned. It has coincided with infrastructural development in the city. Neighbourhoods such as Downtown Oakville, Palermo Village, and Uptown Core have witnessed modern condominium and townhome developments. Oakville holds massive upside for the condo buyers, and it has started yielding results for them. Compared to 2016, the average condo price in Oakville rose around 9 percent.
Oakville, known for its natural allure, is also an enticing destination regarding business, investment and job opportunities. Oakville is an indispensable part of ever-developing Greater Toronto Area (GTA), and much like other areas, the growth is set to continue its upward journey.
Oakville has been an excellent destination for the investors as well as for the businesses. Its location has been one of the key reasons behind it. It is just on the western side of Toronto, Canada’s economic powerhouse. Moreover, Oakville is located only at half-hour drive from two international airports. One of them is Toronto Pearson International, Canada’s largest and busiest airport with 440,000 annual flights. Oakville’s proximity to the US border has also played a part in its economic growth.
Livable Oakville Plan, Oakville’s blueprint for growth, was introduced in 2009. This plan has played a central role in directing region’s progress. It guides the urban development of six growth areas: Midtown Oakville, Uptown Core, Palermo Village, Kerr Village, Bronte Village and Downtown Oakville. Oakville has been classified as one of the essential growth centres in the Places to Grow Act, by the Province of Ontario, suggesting upside in the region’s growth. All these things combined, the condo market in Oakville is set to shift gears.
There has been a steady growth in the average sale price, as far as pre-construction condos in Oakville are concerned. The average selling index price grew from 4% to 6% in the past year, touching the mark of $640 per square foot. The average selling price of a pre-construction condo in Oakville increased to $370,900.
On the other hand, the resale condo price in Oakville in 2017 was somewhere around $582,420 – rising 9.11 percent compared to 2016.
Although Oakville is one of the smallest regions in the Greater Toronto Area, it’s highly accessible to the other areas, credit goes to its proximity to Toronto.
Oakville Transit is the public transportation provider in Oakville since 1972. It provides bus service throughout the region. This bus service connects to Oakville and Bronte, two GO Stations. Oakville is well-connected on the highway front as well, it’s home to The Queen Elizabeth Way, Ontario Highway 403, and the 407 ETR highways.
If you’re a jogger, or a cyclist, or have a dog, you’re going to love the waterfront trail. The trail encompasses lively harbours, tree-lined streets, beautiful homes, museums, and meadows.
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