# Pickering, Ontario real estate



## Romy (Jan 14, 2015)

Anyone know anything about the real estate market in Pickering, Ontario? Good areas/bad areas? A good market to enter now? Right now in Pickering, big detached houses are selling for about $700,000 CAD, semis for around $500-600k, significantly cheaper than Toronto just to the west. Any thoughts on the future of real estate in the area? Are we facing a bubble bursting there?


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## Jungle (Feb 17, 2010)

Pickering and Durham have always been WAY cheaper than West and North GTA suburbs. Don't really know why, but some areas are catching up. I believe Whitby and Ajax has seen annual gains of 10-15% in the last 5-7 years. (detached). Ajax has really grown in the last 10-15 years and extremely crowded now. 

They are planning to build 70,000 homes in North Pickering and this will be the biggest expansion Pickering has ever seen in a long time. If you work in Toronto, I personally wouldn't go any further East, the traffic is just too much now. 

If a crash is going to happen, this will not just affect Pickering.


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## Just a Guy (Mar 27, 2012)

Are you looking for a home or an investment? It's definitely outside of a good investment range.


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## nwmea (Sep 10, 2015)

It seems to be a good area with hottest deals as i have seen two successful closings every week.


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## Ottawa Realtor (Aug 16, 2015)

Romy said:


> Anyone know anything about the real estate market in Pickering, Ontario? Good areas/bad areas? A good market to enter now? Right now in Pickering, big detached houses are selling for about $700,000 CAD, semis for around $500-600k, significantly cheaper than Toronto just to the west. Any thoughts on the future of real estate in the area? Are we facing a bubble bursting there?


Romy. If you take a look at CMHC Housing Market Outlook for the Greater Toronto Area you will see, among other things, a chart that shows the required household income exceeds the actual household income. In Ottawa we have the opposite and I suspect that Toronto will be in for a correction as things can't continue that way indefinitely. I work with investors and I can't see where you can make money on buying a $500K - $700K detached. You can't flip it and you can't rent it for enough to pay the bills with 20% down.


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## Berubeland (Sep 6, 2009)

Plus HST don't forget the 13% due on closing... unless you live there, and yes they are tracking that now.


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## Ottawa Realtor (Aug 16, 2015)

Romy said:


> Anyone know anything about the real estate market in Pickering, Ontario? Good areas/bad areas? A good market to enter now? Right now in Pickering, big detached houses are selling for about $700,000 CAD, semis for around $500-600k, significantly cheaper than Toronto just to the west. Any thoughts on the future of real estate in the area? Are we facing a bubble bursting there?


http://www.theglobeandmail.com/life...estors-dont-want-to-touch-it/article19737944/


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