Real-Estate Demographics Focus: Neighbourhoods in Toronto

There are so many wonderful neighbourhoods in Toronto to buy in. According to the City of Toronto, this city is vast with a population of over 2.4 million people. Ethnic diversity is something that Torontonians take pride in, and according to the 2006 census, Toronto is home to approximately 16 predominant ethnic groups. Touted as the “City of Neighbourhoods” on Wikipedia, Toronto boasts over 240 distinct neighbourhoods.

If you are a real-estate professional in Toronto, then you know how much demographics can differ from one neighbourhood to another, as well as how competitive the real-estate market in Toronto is. Knowing the demographics of the different neighbourhoods in Toronto is very important to compete in this market.

Easier said than done, right? No – it is actually very simple! Knowing the demographics of neighbourhoods in Toronto can be quickly achieved by using the web-based technology made available through GeoWarehouse.

When you access GeoWarehouse, you can perform searches of properties in different neighbourhoods in Toronto. You can generate a Neighbourhood Demographics Report that will show your clients neighbourhood information which includes:

·         Age distribution and marital status of residents – your clients can learn if there are other families like theirs. For example, a client with a young family may see more benefits in purchasing in a neighbourhood that has an abundance of other young families.
·         Structural types of housing and the percentage of owned and rented properties – knowing this information is very useful. For example, if your client wants to purchase an investment/rental property in neighbourhoods in Toronto that have a high population of renters, you can highlight this.
·         Average household income.
·         Dominant languages spoken, religions, ethnicities, and more.

You can also view aerial imagery of the property and surrounding properties, distance to schools, parks and other amenities in the neighbourhood. This could help you spot the desirable attributes about a neighbourhood or the less desirable attributes. If your client is looking for a home in a quiet neighbourhood for example, and then aerial imagery shows that a property your client is interested in is near a railroad, it may be an indicator that the property they are considering may not offer the peace and quiet that your client desires.

Accessing this information will improve your expertise of the different neighbourhoods in Toronto and will enable you to serve a wider range of clients more knowledgably.

For more information about how you can access neighbourhood demographic information about neighbourhoods in Toronto please visit www.geowarehouse.ca or call 866-237-5937.