Brampton is home to over 600,000 people, and the population growth rate shows no signs of slowing down. The city ranks as the 9th highest population in Canada, with a population growth rate of 4.2%. That means about 14,000 choose to move to Brampton each year. As a result, Brampton’s real estate market is continually expanding, with townhomes in the pre-construction and completion stage to accommodate the people who choose to call the city home every year.
Population in Brampton is steadily increasing, and the real estate market is also expanding to accommodate the new additions to the city. In recent years, there have been about more new townhome developments in Brampton, with some having a condominium element to them. If you are considering investing in the Brampton real estate market, know that the city ranks 7th fastest-selling townhouse and 9th highest turnover in Canada.
Looking for the ultimate suburb? Growing Community? Access To Highways, Education, Transit and Airports? Brampton has the best places to live.
Easy Access to Brampton Core and Highway 410, perfect transit and schools, one of the most prestigious established Neighbourhoods in Brampton
The most charming and Historic side of Brampton, Luxury Detached and Townhome Living, Parks, and Trails are all at your doorstep
As of 2023, townhome prices in Brampton continue to remain high, with the average cost for a townhome being $738,452. This represents a significant increase from the 2021 average price of $683,301. Brampton’s real estate market has continued to grow, with a total growth in sales of 110.2 percent since 2016.
Experts predict that the real estate market in Brampton will continue to experience steady growth in the coming years. The demand for new development townhomes has continued to increase, driving up the price of rental units. If you are looking to rent a three-bedroom townhome in Brampton, be prepared to pay an average rate of $3,200 and above.
The appreciation rate for rental units in Brampton has remained steady over the past ten years, with an average of 3.5 percent. Despite the high prices, Brampton remains a desirable location for both homeowners and renters due to its proximity to major cities and amenities.
In a city with an average age of 35.5 years old, many amenities keep you feeling young, healthy, and entertained. Algoma University and Sheridan College, located in Brampton, means that you gain direct access to universities and other institutions of learning. That is also an opportunity to experience the city’s growing job sector.
Residents of Brampton can also benefit from an extensive transit system, local museums and art galleries, shopping malls, movie theatres, and many other entertainment options suited for a large suburb.
Brampton is a growing city with plans for denser style housing. Mainly townhome and condominium developments are being planned, and while public amenities are always within reach, most developments with these densities require parkettes, trails, fitness centres, and on-site retail to be available on the premises, making these kinds of properties much more convenient.
The presence of over 8,000 businesses makes Brampton an economic power to reckon with. The economic landscape consists of industries that include wholesale trade, trade work, retail, and the booming manufacturing sector. Other reasons to invest include: