Welcome to Sutton Systems Sign in | Help

Toronto Real Estate Blog - GTA News

Real Estate Updates on Market Trends, House Prices, Homes for Sale in the GTA, Mississauga, Toronto, Brampton, Oakville and Burlington. Sutton Realty Blog, Sutton Mortgage, Contact Sutton 416-896-3333, 905-896-3333 Canada Toll Free 1-800-265-1361

News

  • Toronto & GTA Real Estate Market Trends, House Prices, Homes for Sale, Sutton Realty Blog, Sutton Mortgage

Archives

Canada's Richest Neighbourhoods of 2014: See where your city lies in the Top 10!

Canada’s wealthiest families are looking for three things in a home: location, location, location. Aren't we all?

Canadian Business magazine partnered with market research firm Environics Analytics to map out exactly where Canada’s wealthiest people live. Using that research, we have compiled a list of the top 10 richest neighbourhoods in Canada.

  


Kicking the list off at #10:

10. Sunnyside & Edgehill, Westmount, Montreal
Average Household Net Worth: $9.37 million
Average Annual Household Income: $503,935
Average House Price: $2.49 million

Residents of this locale have a habit of taking to the hills — fully 17.8% of the areas inhabitants are downhill skiers. And when they’re not bombing down the slopes of Bromont or Jay Peak, they’re likely to be found with a drink in hand (they’re above-average consumers of both craft beer and fine wines) in their front rooms looking out on the narrow streets of Sunnyside.



9. Lexington Avenue, Westmount, Montreal
Average Household Net Worth: $9.96 million
Average Annual Household Income: $590,695
Average House Price: $1.80 million

When we say the residents of this upscale Westmount neighbourhood are blessed, we’re not just talking about their $590,000 average annual household income; this leafy enclave is tucked into the hill directly behind Montreal’s spectacular St. Joseph’s Oratory, giving them easy access to the divine and a sweeping view of the city as well. Just like their similarly well-heeled neighbours throughout Westmount, they do enjoy vacationing in Europe (nearly a quarter have been there in the last three years), but they are less likely to have visited an art gallery, symphony or ballet.

 


8. Lawrence Park North, Toronto

Average Household Net Worth: $10.44 million
Average Annual Household Income: $906,266
Average House Price: $2.81 million

In its earliest days in the 1900s, under the Dovercourt Land Building and Saving Company, Lawrence Park was advertised as an “aristocratic neighbourhood.” And while residents of our 2011 winner may not have hereditary titles, the area is home to its fair share of Canadian royalty: mayoral hopeful John Tory and Blue Jays president Paul Beeston have both lived here. With little success to toast on the field or at the ballot box for that pair in recent years, it’s not surprising that champagne consumption is on the low end of our list.

 


7. Kerrisdale, Vancouver

Average Household Net Worth: $10.59 million
Average Annual Household Income: $1,277,431
Average House Price: $2.79 million


BC’s second-wealthiest neighbourhood maintains its lofty position despite a (presumably comparatively impoverished) population of basement-dwelling students drawn by the proximity to the University of British Columbia. Still, with the second-highest average annual income on our list, at $1.28 million, Kerrisdale’s residents have the resources to soundproof their basement against undergraduate shenanigans.


 


6. Forest Hill South-UCC, Toronto

Average Household Net Worth: $10.63 million
Average Annual Household Income: $629,972
Average House Price: $3.18 million


Upper Canada College has produced six lieutenants-governor and three premiers of Ontario; every man in the Weston family tree attended the prestigious all-boys institution. With good schools being the key factor in picking a neighbourhood for many families, it’s no surprise that the area’s houses are among the most expensive on our list.


 


5. Summit Park, Westmount, Montreal

Average Household Net Worth: $11.00 million
Average Annual Household Income: $906,659
Average House Price: $2.40 million


Quebec’s richest quartier sits at the northwest edge of the prosperous anglophone enclave of Westmount, with one of the city’s highest peaks in its midst. Le parc Summit, at the centre of the neighbourhood, is a designated bird sanctuary, with over 180 species of feathered inhabitants. And the area’s residents like coming down hills just as much as living atop one: fully 17% are skiing aficionados.



4. Shaughnessy Heights, Vancouver
Average Household Net Worth: $12.00 million
Average Annual Household Income: $777,184
Average House Price: $3.09 million

In the nosebleed-inducing world of Vancouver real estate, Shaughnessy Heights still manages to stand out. Among the top five richest neighbourhoods in British Columbia, this one boasts the highest average house price, at $3.09 million. This neighbourhood sits along the west side of Granville Street from West 29th Avenue and follows the gentle curve of Connaught Drive down to West 39th Avenue. Owning the most expensive real estate west of Ontario would make plenty of mere mortals reach for the nearest bottle, but these Vancouverites are an abstemious bunch, coming in below average in beer, wine and champagne consumption.



3 .Sunnybrook, Toronto
Average Household Net Worth: $20.82 million
Average Annual Household Income: $311,979
Average House Price: $2.29 million

Sunnybrook was once the country estate of Canada Paper Company magnate Joseph Kilgour, and it shows: the park that forms the centre of this community is filled with children taking $150-a-session private riding lessons. Though Sunnybrook Stables promises its horses are beautifully trained (not to mention beautiful to look at) parents worried about falls and scrapes can rest easy knowing that Sunnybrook Hospital is right next door.



2. York Mills-Windfields, Toronto
Average Household Net Worth: $21.55 million
Average Annual Household Income: $1,212,275
Average House Price: $3.40 million

Spanning the southeast corner of the York Mills area and the northern reaches of Bridle Path, this neighbourhood centres around Windfields, the historical estate of Don Mills developer E.P. Taylor. Windfields isn’t the only grand manor in the area: houses here are the most expensive in Canada. And while the locale’s namesake now houses the Canadian Film Centre, residents prefer more active hobbies: 16.7% are regular downhill skiers.



1. Bridle Path, Toronto
Average Household Net Worth: $22.27 million
Average Annual Household Income: $936,137
Average House Price: $2.24 million

The residents of the wooded manors in Canada’s richest neighbourhood are as likely to be found abroad as at home: about a third have made a trip to Europe in the last three years, with a little more than that taking a Caribbean sojourn in the same period. And when area residents do get back to Toronto, they’re likely to be at a gallery or the ballet. With one recently-auctioned 14-bedroom, two-pool mansion on Park Lane Circle being modelled on the Palace of Versailles, it’s clear that the residents of Bridle Path have a cultured eye for the world’s best things.
 

 

Thinking of Moving Into Any of These Areas? Think Sutton!   Let Sutton Take The Stress Out of Buying!

Top Service - Low Rates!

Sutton Group Real Estate Toronto 416-896-3333 

Posted: Thursday, July 24, 2014 4:31 PM by Sutton Realty

Comments

No Comments

Anonymous comments are disabled