Why Buy a Condo in Ajax?

Named after HMS Ajax, a royal navy cruiser, Ajax is a town located in the Durham region in South Ontario. It’s located approximately 25 kilometres to the east of Toronto, bordering the shores of Lake Ontario and the towns of Pickering and Whitby. In recent times, the town has witnessed a remarkable upsurge in its population, and many buyers are looking at Ajax as their residential destination. As a result, Ajax, a town that mainly encompasses detached houses, is becoming home to modern condominium apartments.

In the last decade, the population of Ajax has increased by staggering 48.6 percent, compared to 13.2 percent growth in Ontario. A good share of this population belongs to young professionals and students. They carry more urban mindset compared to the rest, and many of them prefer condos to detached homes – this will play a significant role in driving the condo market in Ajax.

The average condo price in Ajax is well-below compared to that of Toronto. However, the needle of the house prices is moving at a higher speed in Ajax, suggesting a massive upside for the investors.

As far as the location is concerned, Ajax is an excellent amalgamation of natural and urban lifestyle. The town is home to many big-name industries, huge shopping malls and at the same time encompasses waterways and prime Lake Ontario waterfront. It’s no surprise that people regard Ajax as Toronto’s bedroom community.

Why Should You Invest in Ajax?

Think of a town that is witnessing massive population influx, remarkable economic growth, and rising real estate prices. Sounds like a good investment destination to you? Well, as you probably guessed, we’re talking about Ajax.

Ajax has been a booming real estate market and the numbers vouch for that. During the years 2012 to 2017, the Ajax’s composite housing prices grew by mind-boggling 72 percent. If you think that there’s very little room for further improvement, you need to think again. The prices are very modest compared to that of Toronto, and there is a long way to go as far as the prices are concerned. The investors will surely have a big ear to ear grin on their faces after some years. You surely want to be one of them, we’re sure about that!

No economic growth is of any significance unless the common man doesn’t get benefitted from it. Ajax has been a rewarding shelter to its people. The average household income in Ajax is 20 percent higher compared to that of Toronto. Twenty percent, that’s a huge gap; isn’t it? And the Durham region as a whole is faring enviously. You surely won’t regret buying a condo in Ajax. So, why not be the first mover?

Average Condo Price in Ajax

The condo prices in Ajax might be on the lower side compared to other areas, but they’ve been rising solidly for quite some time. Compared to 2016, the average price of a resale condo rose by a whopping 19 percent. The average resale condo price in 2017 was capped at $344,338.

On the other hand, the average index selling price of a pre-construction condo increased from 6% to 8%, reaching $420 per square foot. Annually, it rose to $329,000.

Getting in and around Ajax

The residents of Ajax are blessed with all sorts of options when it comes to getting in and around Ajax. The public transportation services in Ajax are operated by Durham Region Transit and GO Transit. The latter has one station in Ajax, making it very easy for the commuters.

As far as road transportation is concerned, Highway 401 plays a major role in Ajax. Running through the town east-west, Highway 401 cuts the town in half. It allows the motorists to connect to Toronto and beyond.

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