Cash-flow future in one Toronto ‘hotspot’

It’s no surprise that house prices in Toronto are reaching towering new heights, but with a bit of digging, investors can still find a few affordable pockets where cash will flow.

“For investors, look to areas around St Clair and Lansdown, or Caledonia and St Clair,” said Steve Arruda, an investor and Realtor at Keller Williams Neighbourhood Realty. “They have been overlooked for the past few years.”

The upcoming neighbourhood, known as Corso Italia, is Toronto’s most authentic Italian enclave, despite the fact that blocks of College Street actually bear the Little Italy name.

The latest figures from CREA show that the average house price in Toronto is $635,932, up 10 per cent from $577,898 the previous year. Parts of Corso Italia still come in below that number.

It had been a quieter neighbourhood in the past, but with new access to the TTC via the St Clair corridor streetcar, a new urban streetscape in the form of old-fashioned street lamps and hanging flower baskets, as well as great restaurants and cafes popping up, the neighbourhood is booming – and is projected to continue to grow with additional housing developments and retail in the coming years.

“As the demographic changes with young professionals, we’ve seen cool and trendy shops and restaurants open up,” added Arruda. “That area will be just as expensive as St Clair in a few years.”

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