Richmond Hill – an affluent town to the north of Toronto which boasts some of the best schools in Ontario.
The population of the town has almost doubled in the last 20 years, with many real estate buyers drawn in by the quality of life on offer. With large homes often on large lots, plus some of the best-ranked schools in all of Ontario, it is a popular choice for families. Richmond Hill’s location within the GTA also makes it a popular choice as its central location makes it easy for residents to reach other places like Toronto, Markham and Vaughan, while two GO train stations are a bonus for commuters.
The majority of homes in Richmond Hill are single-family homes. As a result, many of the new home projects are focused o the development of townhomes, semi-detached and detached homes. This also caters to the growing number of families in the town. However, there is a change in the new homes market in south of Richmond Hill, with many new condos being built in the areas close to Highway 7 and the southern stretch of Yonge Street.
These new Richmond Hill condos are close to good transit links like the Richmond Hill Go station and the dedicated bus lanes on Highway 7, making them popular with young professionals and first-time buyers who are looking to get on the property ladder but remain within a good commuting distance. Looking into the future, any large-scale townhome and detached developments in Richmond Hill are likely to be concentrated in the north-east of the town, where there is still land for development. To the south, we are likely to see the growth of new condos in Richmond Hill and there are likely to be good opportunities for real estate investors here.