TORONTO
HOME FROM HOME
HOME FROM HOME
with easier requirements than for New Zealand and Australia. That said, despite Canada avoiding the worst of the global slump – protected by oil revenues and a drastic deficit reduction plan implemented long before most countries – the economy has been dragged down by America’s problems and unemployment is around eight per cent. Added to that, Toronto is well known for its high cost of living too, including property.
TORONTO GETS TRENDY Toronto has been dubbed “Hollywood North” for its film industry and large numbers of movie stars from the city. These include Mary Pickford, Christopher Plummer, John Candy, Mike Myers and Keanu Reeves. A new branch of the trendy private members club Soho House has also just arrived there (sohohousetoronto.com).
GETTING THERE
Why has this vibrant Canadian city suddenly become rather fashionable, asks Christopher Nye
If they fly from the UK to Canada, they generally go to Toronto. Fly direct with Air Transat (www.airtransat.co. uk) from London Gatwick, Glasgow, Birmingham and Manchester. Air Canada (www.aircanada.com) and British Airways (www.ba.com) fly direct from Heathrow. Flight time is seven or eight hours.
WEATHER IN A NUTSHELL Toronto is Canada’s largest city, and north America’s fifth largest, with two and a half million people. It’s not Canada’s capital – that’s Ottawa – but it is the state capital of Ontario and is Canada’s commercial and cultural centre. With Niagara Falls on the doorstep, it is also a tourist must-see, but most of all it is a liveable city relaxed, well-ordered, and very friendly. Toronto bid for the 1996 and 2008 Olympics but is widely expected to be third time lucky for a winning bid in 2024, if it can beat Paris.
LOCATION Toronto sits at the western end of Lake Ontario, on the other side of which is the USA. While the cities of Ottawa, Detroit, Montreal and New York City are all easily reachable –
“I didn’t realise Toronto was so beautiful. Everywhere you go you see beautiful architecture.” - Kevin Costner
within 350 miles – the city itself is surrounded by lakes and national parks filled with wildlife, rolling vineyards, arty towns and pretty villages with friendly B&Bs. There is good skiing an hour or so away.
A WARM WELCOME? Canada thrives on immigration, and Toronto is recognised as the most diverse city in the world, with half of its residents born outside Canada. By 2006, nearly 60,000 (or 2.6 per cent) of Toronto’s population were British born. Not bad, until you consider that there were similar numbers of Sri Lankans, Jamaicans, Indians, Filipinas, Italians and Chinese too. Policies tend to change, and there is a waiting list, but people working in professions that the economy needs are welcome under skilled worker laws
Toronto has warm, humid summers and cold winters, but moderated by its position on the lake. Average daily temperatures stay below freezing for most of December to March, with 1.3 metres of snow falling. The city, however, is well-equipped to continue functioning well despite the snow. Toronto averages more than 2000 hours of sunshine each year, with four distinct seasons and glorious spring times and sunny autumns with stunning leaf displays. Rain falls fairly evenly across the year. Summer average highs are in the mid-20sºC.
WHERE TO LIVE Best for Condos, by Joy Paterson and Erica Smith. www.condochicks.com. King and Queen West has become the “it” place to live, known for a vivacious night life with trendy clubs and restaurants, yet just steps from the
“TORONTO: IT’S AWESOME”
Financial District which makes it a perfect spot for young professionals. The East end of the city, where the River City Project is located, is an upand-coming area with lots of green space. It’s still in transition; a perfect spot for those looking for a good return on their investment a few years down the road. It’s still only a few minutes drive to the downtown and is seconds away from the DVP highway. Further to the West, in Mimico, buyers are also just a short drive from the downtown core but in a quieter, more relaxed living environment with lots of green space and lake views. This area is a mix of young families living in condos and more mature neighbourhoods. Buyers get more bang for their buck here. Best for family homes: by Christina Candy, full service broker in Toronto and across Canada. www.candyhomes. com York Mills and Bayview Village close to downtown Toronto, have great shopping and private schools, with houses well in excess of $1million. Similarly, the Bridle Path is a prestigious area close to downtown Toronto, but with family homes more likely to start at $2million. Cabbagetown, in downtown Toronto, is close to Lake Ontario and the entertainment district, with houses from $600,000 to 3million.
Rosedale, in central Toronto is another high value area, close to the shopping district of Yorkville – the heart of Toronto. Prices start at $2million. Anything along the lake is popular: The Beaches, close to the entertainment district of central Toronto, has lake views and properties from $600,000. Outside the city: Toronto’s baby boomer generation likes to have a place in the city, a place in the country for summertimes, and maybe a ski property too. Popular out of town areas include Caledon, 40 kilometres to the west, which is very rural and horsey. Stratford, further west again, appeals to a theatre-loving crowd, while the Niagara Winelands are great cycling country – with lower prices than Toronto itself, and a few developments coming on stream. As well as the Great Lakes, there are huge numbers of smaller lakes, perfect for summer cabins. Muskoka Lakes and Kawatha Lakes are popular. Skiers should look to Blue Mountain Resort at Collingwood, an hour from Toronto.
Where: Toronto’s East End Price: From mid-$200,000s River City 2 will consist of 1,000 loft-style condos and townhomes in three glass towers, with an 18-acre park, restaurants, shops, schools and a daycare centre. The University of Toronto a 5 minute streetcar ride away. www.condochicks
Where: Wellington St West Price: $439,900 Two-bedroom, two-bathroom apartment in the popular Icon Condo, close to the Financial District, Theatre District and Fashion District. The apartment has hardwood floors and granite counter tops in a large kitchen. www.condochicks
Where: Cabbagetown-South St Price: $1,195,000 Five-bedroom, two-bathroom Victorian townhouse, with private front yard and parking space. Attractive arched entrance, hardwood floors and well-equipped kitchen. www.candyhomes.com
Where: Forest Hill Price: From $1.4m Brand new three-bedroom townhome in Toronto’s highest point, the prestigious Forest Hill. Master bedrooms have large walk-in closets and private roof terraces. www.candyhomes.com
THE PROPERTY MARKET
selling price may hit $500,000 for the first time. But while prices have doubled since 2000, they have risen at a steady, apparently sustainable rate – a little over five per cent per year. There is a shortage of detached homes, and estate agents report multiple bids exceeding asking prices. Toronto also has the largest number of tall buildings under construction in North America, far outstripping any US city. Indeed some argue that Toronto is approaching saturation point with condos, but they’re still selling. Property to renovate, known as fixer-uppers, are in great demand.
30 years ago, the average price of a Toronto home hit $100,000 for the first time. By 2013, that average
*With thanks to Christina Candy, www.candyhomes.com
CHRISTINA CANDY, BROKER
B.A. Paralegal, Top Producer, Chairmans Club Member 2001-2011 Accredited Green Broker (AGB-TM), Accredited Senior Agent (ASA)
Direct: 416.399.5885, Office: 416.441.2888 Ex 546 Email: candy@candyhomes.com Web: www.candyhomes.com R E A L
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TRY IT FOR SIZE IN TORONTO
Quin Parker met Michelle, a Canadian, and moved to Toronto in 2009. They married on Lake Ontario and have a baby daughter, Matilda (right). They live in Lambton, near the Humber River in West Toronto, and Quin works as digital editor of the Metro newspaper. “Toronto is New York but with room to breathe; a modern, friendly city that cares about its people,” says Quin. “There were many good reasons for us to move there: it’s doing well economically, and its schools and healthcare rank among the best in the world. “It’s a city of festivals. Summer months are filled with local street parties, world music and food, and the most famous party of all is the Canadian National Exhibition (“the Ex”). Every summer, for eighteen days, 192 acres of the shore of Lake Ontario is transformed into an enormous funfair. Canadian winters are bright and crisp; you’re more likely to get sunburn than frostbite. Torontonians take cold weather as an invitation to play – snowshoeing and tobogganing are popular for kids, as is the ever-present ice hockey: a sport Canadians define themselves by. On especially cold days, Toronto’s heated underground city (PATH) is vital: the frozen streets, lined with waist-high snow banks, lie deserted while all the activity is below your boots. I live somewhere awesome.” www.quinparker.com
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