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The trendy Canadian places to live
Jo-ann Hodgson looks into the Canadian neighbourhoods currently displaying the all-important ‘trendy’ tag
'Trendy', is a title coveted by many neighbourhoods in Canada and awarded to just a few. Being home to vibrant shopping centres, cultural attractions and beautiful landscapes doesn't neccessarily earn a neighbourhood the title of being a 'cool' place in which to live. It's that added, as they may say in Quebec, je ne sais quois, that really makes a neighbourhood the place to be. Of course, we all know what usually happens as soon as the 'trendy' label is slapped on a district – gentrification gets underway and property prices rocket – but for some the allure is worth the price tag and if you get in there quick enough, you can stand to make yourself a tidy sum on your investment.
One of the first 'trendy' or 'cool' neighbourhoods in Canada was Yorkville in Toronto, which arose in the 1960s as the core of the local artistic and hippy community. As soon as word got out in the late 60s that property in this area was selling at rock-bottom prices just streets away from the high-end retail area on Bloor Street, property developers and high-end eating and retail establishments flocked to Yorkville, leaving the marginal businesses to slope off and find new, cheaper homes from which to carry out their artistic adventures. Thirty-odd years on and Montreal was named the most artistic city in Canada in 2005. A report called Artists by Neighbourhood – based on Statistics Canada census data and compiled by Hill Strategies Research – found that five of Canada's most creative neighbourhoods called Montreal home. The Plateau's H2W post code topped the list for the highest concentration of artists followed by the eastern and northern parts of the Plateau. The study found that arts contribute to the quality of life as well as the social and economic vitality of certain communities. The Plateau area is also famous for its long immigration history and its cultural link between Francophones and Anglophones. In 2007 the Plateau's artistic clientelle has made the 'trendy' label well and truly stick and properties in the area, now home to high-end restaurants, shops and boutiques, come with a price-tag to match. Studio flats in the area are currently priced at around the £160,000 mark.
The 'trendy towns' of Toronto – as well as the very fashionable Yorkville, now home to large and expensive stores and a thriving celebrity-fuelled night-scene, – include the neighbourhoods of Rosedale and Queens West. Rosedale is one of the wealthiest neighbourhoods in Toronto and, based on house-pricing, is considered amongst the most desirable places to live in Canada. Home to Canada's 'old money', part of Rosedale's appeal is that it's surrounded by the natural beauty of ravines and parkland, as well as being situated just a few minutes from Toronto's major business, entertainment and shopping districts. Queens West is another trendy district. A centre for Canadian broadcasting, music, performance, fashion, and the visual arts, the area is known as a alternative and cool part of the city which incorporates international with uniquely Canadian culture. A neighbourhood in one of Canada's other great cities, Vancouver, Kitsilano also registers high on the cool radar. Affectionately known as 'Kits', the area is one of the city's most popular, attracting a fast-growing population with its beaches, proximity to the University of British Columbia and the downtown area of Vancouver. Its designer shops and fashionable cafes clustered around Broadway and 4th Avenue and properties offering great views of downtown and the North Shore Mountains have helped make it Canada's second-best known neighbourhood after Rosedale.
The city of Victoria as a whole has become more fashionable over the last decade and this increased popularity shows in the demand for and prices of property within the area. "The sale of 28 single family homes over CDN$1 million pushed the average price to a new record high of CDN$568,710," say Liz Grambart and Anders Treiberg from Properties In Victoria. "This shows us that in Victoria we have strong demand for real estate and we can expect prices to continue to climb. The average in the month of April for Victoria Ocean front properties was CDN$1,196,354." Victoria is no longer just popular with the retirees which have become a staple of the city's population, now young professional couples and families are being drawn to the area by Victoria's mild climate, beautiful scenery, vibrant nightlife and job opportunities including those in investment banking, pharmaceuticals, media and tourism.
A rather more unknown up and coming neighbourhood for those looking to invest in property is Crystal Ridge, located 15 minutes south of Calgary. "Crystal Ridge is a trendy choice for newcomers as it is a lake community with a wonderful family beach area and beach house that can be rented out for functions," says Sara Green from Alberta Immigration. "There is an outstanding golf coarse with a great fine- dining restaurant, beautiful mountain views and one of the top-rated elementary schools in Canada. Property prices start in the CDN$400,000s and range up to mid to high CDN$500,000s." Also close to Calgary, but in a more rural setting, the rapidly-growing town of Canmore is fast becoming a very trendy place to own a second-home. Set amidst the rugged Canadian Rocky Mountains, a 15-minute drive from The Banff National Park, and an hour's drive from Calgary airport, the population of Canmore is set to reach approximately 25,000 in 10 to 12 years. "Given the beauty of the location, the small town atmosphere, the availability of every sport from the very extreme to the very soft, and the clean air, Canmore is exactly where the retired boomer and recreational buyers want to be," says Denise Thomson from RE/MAX Alpine Realty. "Canmore has become a second home for many from all over the world. This is the fastest growing category in our demographics. Also, compared to many other currencies and markets, Canmore is a bargain. "The average sale price in our Single Family home category is currently CDN$850,000. One of the fastest-growing segments of our market is the CDN$1million and over, and the number of homes sold over CDN$1million has doubled in the past year.
So whether you're looking to step into a ready-made trendy neighbourhood or invest in a more up-and-coming area, now you know where to look.
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