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Wednesday, 11 February 2015
Surprise! You Can Live by the Subway and Save Serious Cash
Data Reveals King, Finch and Eglinton Stops Among Subway Adjacent Anomalies
TORONTO, ONTARIO--(Marketwired - Feb. 10, 2015) - While most Torontonians are onboard with easy access to transit, common sense tells us that real estate prices go up the closer you get to a subway stop. Surprisingly, recent research from TheRedPin.com on Toronto family homes and condos sold in 2014, shows that while in most cases, the conventional wisdom holds true, average prices are in fact lower around the local subway station in a number of Toronto's most coveted neighbourhoods.
"When facing Toronto's traffic congestion, proximity to transit offers a range of preferred lifestyle benefits," said Rokham Fard, Co-Founder and CMO of TheRedPin.com. "The obvious assumption would be that homes on the subway line cost more than those outside of walking range. We crunched the numbers for our clients and immediately realized that there are some amazing opportunities for Torontonians to have their home and transit too, in some cases with surprising savings."
While the research found the conventional wisdom to hold true in most cases, there were some notable exceptions where housing is actuallycheaper within walking distance (10 minutes) of public transit. These stations included:
Total Active Listings (as of Feb 9, 2015)
Lower costs apply to condos only
Lower costs apply to single-family homes only (including detached, semi-detached, townhouses and row/link homes)
Lower costs apply to both condos and single-family homes
More insights can be found in an infographic HERE.