It’s no secret to anybody that Mississauga is an expensive area to live. In fact, owning a home in the GTA in general is becoming increasingly unrealistic for those not born into wealth or currently already in the market.
Well, recent signs indicate that things are not getting any easier. Real Estate website, Zoocasa, recently wrote a blog post indicating that house prices in Mississauga are continuing to rise and that Toronto and Vancouver are leaps and bounds above other areas in terms of house pricing.
During the month of June alone, house prices in Mississauga rose an incredible 3.6%. The average price of buying a home in Mississauga right now is $750,747, which is a truly astonishing number. It’s a bittersweet number because it highlights the appeal of living in one of Canada’s fastest growing city’s, but it also makes it harder and harder to stay here for those who aren’t exceedingly wealthy.
Part of the reason for the uptick in house prices is the lack of options. For a city as large as Mississauga, there just isn’t that many available homes. Especially when compared to the number of people moving to the city each year. Of course these numbers are offset when you take into account the amount of condos, apartments, and townhouses available, but that doesn’t make home-buying any easier.
Mississauga itself continues to expand and improve, with new businesses, homes, apartments, and more popping-up all over the city at an unprecedented rate. That makes Mississauga an exciting place to live, but it also means that the housing market is only going to continue booming for the next year or so. It seems inevitable that things are ballooning at a unmanageable rate, and the market will eventually burst, so if you’re considering buying a home, perhaps wait until then and swoop when the getting’s good.