Where to Buy Real Estate in Canada 2022: Durham Region, Ont.
A relatively affordable option close to Toronto, Durham Region offers plenty of employment opportunities, suburban amenities and small-town charm.
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A relatively affordable option close to Toronto, Durham Region offers plenty of employment opportunities, suburban amenities and small-town charm.
Located in the eastern part of the Greater Toronto Area, Durham Region is the perfect mix of suburban and rural. Bordering Lake Ontario, it is an excellent place for those seeking a home close to green space and the waterfront. Durham Region has a population of just under 650,000 people, and its suburban and rural areas are a great option for those seeking a relaxed lifestyle, outside of the more densely populated areas of Oshawa, Ajax, Pickering and Whitby.
To help prospective home buyers considering real estate in the Durham Region, MoneySense partnered with Zoocasa—a full-service tech brokerage—on a ranking of the best neighbourhoods to buy in today. It is part of our 2022 edition of Where to Buy Real Estate in Canada, for which Zoocasa examined local real estate data and trends to uncover the neighbourhoods that offer the greatest value and price-growth potential.
Considering areas outside of Durham Region? Our guide also includes a national ranking of cities and regions, as well as information on the top neighbourhoods in 12 other markets across Canada (view them by tapping or clicking on the menu above). The rankings are based on data collected at the end of March 2022, and interviews were conducted in March and April. Read more about our methodology.
To view all the data in the table, slide the columns right or left using your fingers or mouse. You can filter or rearrange the rankings by using the search tool or clicking on column headings. You can also download the data to your device in Excel, CSV and PDF formats.
Spanning 2,500 square kilometres, Durham Region is home to many companies across the energy, environmental and engineering sectors that employ over 10,000 Canadians. The area also has thriving film, agricultural, technology and automotive industries. Its notable post-secondary institutions—Durham College and Ontario Tech University in Oshawa—have led to a growing student population. Durham is also a great option for those commuting to Toronto, with easy highway access and ample public transit, including the Go Transit rail and bus network.
Those who enjoy being close to nature have access to national parks and over 900 km of waterfront. The region is home to Uxbridge, the “Trail Capital of Canada.” In other words, there’s no shortage of small-town charm and rural beauty in Durham Region.
Prior to the COVID-19 pandemic, Durham Region was an affordable option close to Toronto. The benchmark price of a home in February 2020 was $657,788, around 34% less than Toronto. Much like the rest of Ontario, Durham’s real estate market was impacted when the pandemic began. The benchmark price of a home fell by 7% between March and April of 2020, resulting in a price of $612,563. That price eventually rose to $685,655 by June—a new high for the area. However, Durham Region remained an economical option compared to Toronto, whose listings were in the $1 million range.
According to the Toronto Regional Real Estate Board, the Durham Region housing market has seen remarkable growth in the last year, and prices have recently exceeded those in Toronto. In February 2022, the benchmark price of a home in Durham Region was $1,228,990, roughly $18,000 more than in Toronto. Home prices have grown by 87% in the last two years, and the average detached home is now priced around $1,379,287.
The spike in real estate prices has partly been driven by the low housing inventory in 2021 and early 2022, historically low interest rates and work-from-home measures that have led many employees to move further from the big cities.
“Durham has seen a major uptick in price in the last two years,” says Prasath Selvarajah, a sales representative at Zoocasa. “The historically low interest rates have contributed to this along with all the changes prompted by the pandemic.”
“Many people have left Toronto in the last couple of years—being able to work from home has given many Canadians tremendous flexibility to choose where they work and live,” adds Selvarajah. “Homes are so much more now—they are offices, too. The low stock and higher demand have caused prices to soar over the last year.”
Durham’s sales-to-new-listings ratio now sits at 46%, meaning the market is beginning to balance. In February 2022, there were 745 sales with 1,613 new listings. Despite this trend, prices continue to rise in the area. As more houses are listed and inventory grows, there’s potential for those prices to steady.
As interest rates begin to increase and some employees return to the office, we may see more people reconsidering their move away from bigger cities. This may create some uncertainty in the area, meaning that people may choose to wait to see how the spring and summer real estate markets are progressing before making their move and buying or listing a house.
“I think we will see a lot more houses come on the market in the next few months,” says Selvarajah. “The market is already more balanced than it was in March of last year, and with rising interest rates and the movement of people back to full-time office work, those rapid price increases are more likely to slow.”
“Although I don’t expect that prices will come to a complete halt, I do think the rapid increase will slow down,” he says. “Sellers that are looking for those really inflated prices we saw over the winter will likely have to manage their expectations.”
With its location east of Toronto and York, Durham boasts some vibrant neighbourhoods, including Pickering’s Town Centre. This neighbourhood nabbed the top spot in Durham with a benchmark home price of $687,240 in December 2021. At that time, home prices were 24% higher than they were one year earlier, 53% higher than three years earlier and 9% higher than five years earlier. That rate of growth gives Town Centre a value score of 4.1 out of 5, and it has a neighbourhood economics score of 3.6 out of 5.
What encourages people to settle down in Town Centre? It could be the area’s manufacturing and energy sectors—the Durham Region plays a prominent role in the country’s automotive industry, playing host to the Canadian headquarters of General Motors and Volkswagen. Also nearby: Ontario Power Generation, a nuclear power plant that is the area’s largest employer. Around 55% of households in Town Centre have kids. And with the nearby Pickering Town Centre and Pickering Recreation Centre, it has an accessibility score of 3.8 out of 5, higher than any of the other top neighbourhoods in the region.
View Zoocasa’s real estate listings in Town Centre.
Located in beautiful rural Clarington, Orono boasts a historic Main Street complete with heritage buildings and the Orono Antique Market. It makes sense, then, that this idyllic neighbourhood has the highest home values among the top three in our ranking. In December 2021, the benchmark home price in Orono reached $930,994. At that time, prices were 38% higher than they were one year earlier, 80% higher than three years earlier and 95% higher than five years earlier. The neighbourhood has a value score of 4.2 out of 5 and a neighbourhood economics score of 3.3 out of 5.
Each year, locals and visitors alike look forward to the Orono Fair, one of Ontario’s longest-running fairs. Residents enjoy walking along the Wilmot Creek ravine valley and dining at the town’s small restaurants. As one might expect of a rural location, the neighbourhood isn’t very walkable, giving it an accessibility score of 0.1 out of 5. However, one exciting perk of the rural location is the older homes. Buyers can find beautiful Victorian and Edwardian homes in this area. Around 42.9% of households in Orono have children.
View Zoocasa’s real estate listings in Orono.
Also located in Clarington, between Bowmanville and Oshawa, Courtice is a quiet suburban setting with an easy commute to Toronto. For a community filled with single-detached homes, the benchmark home price in December 2021 was a surprising $887,018. At the end of the year, home values were 31% higher than they were one year earlier, 61% higher than three years earlier and 84% higher than five years earlier. With that phenomenal growth in home prices, the area boasts a value score of 3.5 out of 5 and a neighbourhood economics score of 3.9 out of 5.
Locals love to go to the Courtice Flea Market on the weekend to search for antiques. Notable parks include Darlington Provincial Park, Oshawa Valleylands Conservation Area and Tooley Mill Park. Around 56% of households have kids—and there are great public and Catholic schools in the area. Like Orono—this year’s number two neighbourhood—Courtice has a low accessibility score of just 0.4. However, residents can use public transit. There is a Go Transit station that connects commuters to the Oshawa Go station for easy access to the GTA. Commuters also have easy access to Highway 401.
View Zoocasa’s real estate listings in Courtice.
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