New Projects Newmarket

Newmarket is among the most lively and growth-driven real-estate markets of Southern Ontario. Despite being a small town, Newtown foresees massive growth in the upcoming time due to the government's Places to Grow Act. This town greets its residents with a vivid diversification of employment opportunities, cultural values and local amenities. 

With robust development plans for Newmarket, this place hints about a surge in demand for under construction condos in the future. Newmarket's growing population and employment opportunities make it an ideal town to invest in real estate. This town has a population density of 2,000 people per square kilometre, making Newmarket the 33rd most populous area of Canada.

Newmarket projects a firm economic growth with overgrowing establishments of industries including businesses services, retail and manufacturing. In future, more companies will invest in this area's Condo market, which will surge the demands for housing properties. 

Newmarket Real Estate & Population Growth Projections

The demand for new home in Newmarket is increasing, and it has shown signs of good investment returns for the past couple of years. The population is escalating as more people are shifting from urban neighbourhoods to relish peaceful living despite going far from their workplace. 

As per the TRREB market stats, the average price  for all home types has increased by 17.98%, Detached by 16.47%, Semi-detached by 13.81%, Condo townhomes by 17.97%, and Condo apartments by 18.32% in the year 2020 vs 2019.

The average selling cost of all home types, including pre-construction condos in Newmarket, sits around $1,011,949. With a per square foot price of $805, this place is growing at a yearly rate of 1.7%. Coming to rental costs, it is presently around $2,000, which is an addition to the appreciation rate of 0.8% for the past decade. 

The demand for Newmarket condos and new detached homes is soaring as the property vacancy rate is only 0.8%. It is lower than many other neighbourhoods, making Newmarket one of the best places for property investment. The average resale cost for all home types is currently about $757,500, with an appreciation rate of 7.4% for the past decade. Newmarket has a total population of 84,224, which is 5.3% higher than the 2011 census totalled 79,978. The number will grow as GTA continues to grow and density the areas. By 2026, the town will hit the population mark of 98,000. With such welcoming growth and a population hike, the place will experience a spike in demand for new condos in Newmarket.