Newmarket

Newmarket is a former railroad town that is located in Southern Ontario. Popularly known for its historic main street and the downtown core, Newmarket is one of the highly urbanized small towns in the Greater Toronto Area. It has witnessed tremendous growth over the years thanks to its rich history, amiable urban architectural design, diverse shops and restaurants, townhouses, and new condo development projects.
Newmarket was designated by the province as the “Provincial Heritage Conservation District”. It has demonstrated tremendous growth potential due to its diverse economy and industries. The future forecast projects that this small town will continue to grow as it’s also one of the provinces that are under the “Place to Grow Act”.

Pre-Construction Homes in Newmarket

New homes in Newmarket

As one of Canada’s largest and most multicultural cities, Newmarket boasts a high population of over 84,224 residents according to the 2016 census data report. The population is expected to continue growing to over 90,000 residents by the year 2026. More than a quarter of this population have university degrees and more than 80% of homes in Newmarket town are family-owned.
Newmarket commercial main growth center starts from the intersection of Davis Drive and Yonge Street and spreads to other parts of the town. New condo developments are coming up in different parts of the town and we expect this trend to continue as the Newmarket’s strong economy continues to thrive due to its diverse businesses, manufacturing industries, and retail sectors.

Why buy a new condo development in Newmarket?

Since the government of Ontario has earmarked Newmarket town as one of its Urban Growth Centers under the “Places to Grow Act”, the future growth prospect of this small town is positive. New condo developments and pre-construction condo projects are coming up starting from the commercial center of the town at the intersection of Yonge Street and Davis Drive.

The Newmarket real estate market has witnessed an upward trajectory of property prices as demands continue to soar.  The demand for pre-construction condos in Newmarket town is at its highest point and the best time to invest is now before prices become unattainable.

Whether it’s a residential or commercial pre-construction condo investment, you are assured of getting the best deal in Newmarket compared to other nearby cities in the Greater Toronto Area. The many diverse businesses and manufacturers that have set their operation base in Newmarket will continue positioning this town as one of the main employment hubs in Ontario.

The manufacturing industry has been a very strong economic pillar in Newmarket city since the early 1800s and its home to both local and international manufacturing companies. More than 5,000 people are employed in the manufacturing sector in Newmarket town. Some of the major manufacturing firms and employers in Newmarket are; Magna International, TS Tech Canada, Mars Canada, Lotek Wireless Inc., and CPG Aerospace.
More people seeking employment opportunities will continue migrating to Newmarket and this will keep the demand for condos very high. Residents enjoy modern amenities and Newmarket is also in close proximity to other major towns like Toronto and Ontario’s cottage country.

Average condo prices in Newmarket

Housing prices in the Newmarket continue to grow with an annual rate of 7% for the last 10 years. A new condo development project in Newmarket is currently selling at an average price of CAD90 per square foot.

The average rental price in Newmarket town is CAD2400 with an annual growth projection of 4.8%.  For investors, the average resale price for all housing units in Newmarket stands at CAD890, 014 and the value has been growing at an annual rate of 8.9% for the last 10 years.

Amenities and life at Newmarket

Living in Newmarket gives you a unique urban lifestyle experience as it’s strategically located near the Greater Toronto Area, businesses and industries, and social amenities. Moving to the north of Newmarket you will find East Gwillimbury, Whitchurch-Stouffville to the east, and the city of Aurora to the south.
Newmarket’s downtown development was for the longest time concentrated along Main Street where you will find many charming historic buildings. It’s a family-friendly town and schools here perform above average. All elementary and public secondary schools are under the umbrella of the York Region District School Board or the York Catholic District School Board.

The most popular colleges in Newmarket include; Canadian Beauty College, Academy of Learning – Newmarket, Visions Hair and Esthetics Academy, Seneca Workforce Skills Centre and Saint Andrews College, International Hair Academy among others. For tertiary education, Newmarket is served by George Brown College, the University of Toronto, Ryerson University, and York University.
33.54% of Newmarket residents are degree holders with specialties in business management and public administration being the highest. Other employable careers that are doing well in Newmarket are Engineering, Social Science and Law, and Information Technology.
For outdoor activities, residents and tourists can visit Fairly Lake or go to Riverwalk Common for a nature walk and other fun activities as they enjoy breathtaking outdoor sceneries. For shopping and entertainment needs there are plenty of shops, shopping malls like Upper Canada Mall, restaurants, and art galleries, especially the commercial growth center at the intersection of Yonge Street and Davis Drive.
There are also many great attractions and shopping areas that you can find along the Newmarket downtown core and Main Street.

Transportation and accessibility in Newmarket

Accessibility of Newmarket is excellent and residents and tourists are able to commute and drive and access every area in Newmarket town. It’s easily accessed via Ontario Highway 404 which runs along the Newmarket town’s eastern border. From Highway 404, residents of Newmarket town can easily access the Southern Ontario region and Markham city impeccably.

For those who want to drive to Toronto, Ontario Highway 404 connects to Don Valley Parkway to give you easier access to Toronto. For those who prefer using public transit utilities, Newmarket is served by York Region Transit. In addition, there is the Viva Rapid Bus Transit that operates from Finch Bus Terminal in North York all the way to the Newmarket Bus Terminal. The Go Transit has a GO Station at the intersection of Main Street and Davis Drive.

Due to ease of accessibility and connectivity, Newmarket is an excellent place to work and live in a small town, especially for working professionals who like to commute on a daily basis. With the implementation of the “Place to Grow Act”, Newmarket will record tremendous growth.

Therefore, investing in pre-construction condos in Newmarket is one of the best decisions that one can make. More mid-rise new condo buildings are coming up and we expect the town to continue growing at a great trajectory as it is one of the unique employment hubs with a touch of urban lifestyle and modern amenities.

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