Milton's Real Estate Boom: Preparing for 50,000 New Residents by 2031
The town of Milton, Ontario, remains one of the fastest-growing communities in the country, with an approximate current population between 150,000 and 160,000. The Milton real estate market is set to explode with new developments — the town expects a population spike to 335,000 by 2051, with an estimated 50,000 within the next eight years.
Through deliberate and purposeful planning,
Milton plans to build complete communities for residents to live, work, and play with no sporadic urban sprawls. Development will occur in the right locations considering environmental factors, housing options, and a host of conveniences and quality of life advantages.
Keep reading to learn about Milton’s booming real estate market, investment opportunities, and the benefits of
buying real estate in Milton, Ontario.
The New Milton Community
Milton’s Britannia Secondary Plan encompasses an urban expansion area that will accommodate more than 46,000 residents and 10,700 new jobs by 2031. It has 904 hectares of developable area situated south and east of the Boyne Secondary Plan area west of Trafalgar Road and north and south of Britannia Road.
Envisioned to be a complete, sustainable, well-serviced, connected, and attractive community, the Britannia Secondary Plan includes five walkable residential neighbourhoods, each with approximately 10,000 people. It has a good mixture of housing options and access to services and amenities, which include:
- A community park
- Neighbourhood parks
- Places of worship
- Village squares
- Regional natural heritage system and green space
- Four new high schools
- 12 new elementary schools
Milton real estate will take advantage of a new land-use plan, The Evolving Neighbourhoods Designation, allowing a wide range of purposed residences, like:
- Townhouses
- Single detached
- Semi-detached
- Back-to-back townhouses
- Secondary units
- Missing middle housing
Current State of Milton Real Estate
The housing market report for December 2023 shows 284 Milton real estate listings were available in November, which included 89 sold homes.
The average house price in Milton is $1 million — the sixth cheapest area on the GTA list of highest average home prices. Milton housing data indicates that the median days a home is on the market is 24.
Benefits of Investing in Milton Real Estate
Surrounded by local conservation areas, the Niagara Escarpment, and many parks, Milton provides countless opportunities for year-round recreation. With a number of homes available for sale, connected and walkable communities, and accessibility to some of the most exciting Canadian urban centres, Milton attracts many residents seeking a balanced lifestyle.
Other benefits of investing in Milton, Ontario’s real estate market include:
- 3rd lowest property taxes in Ontario: All homeowners in Milton, especially luxury homeowners, benefit from one of the lowest property taxes in Ontario at 5.68%.
- Steady growth: Investing in real estate in Milton, ON, is typically a long-term endeavour. With Milton’s fast-growing population, housing costs are on the rise. The more demand, the higher the price, which means Milton is prime property for investors with a growth forecast of around 180,000 people in the next 28 years.
- Proximity to essential amenities: All Milton neighbourhoods are close to schools, parks, and shopping facilities. Purposely planned communities boast walking and bicycle paths connecting areas for convenient and active transportation.
- Easy commute and transportation facilities: Milton provides a strategic location to major highways and the Go Transit system for commuters who travel to nearby cities for work or play.
Challenges in the Milton Real Estate Market
The typical market surge isn’t happening this fall for the real estate market in Milton and the GTA. The average sale price was less than expected, with an increase of only 3%, and total sales for September were down by 7% compared to a year ago.
This data suggests a balanced market, with Milton having over four months of detached properties and townhome inventory. With a balanced market and interest rates expected to remain high until the middle of 2024, potential buyers may be cautious about entering the market.
Navigating the Property Sale Process
Buying or selling a home are exciting experiences requiring expert guidance. Milton’s real estate trends make choosing the right agent crucial for a seamless home-buying or selling journey. Below are a few factors to look for when partnering with a realtor:
Proven Local Knowledge
Milton has a dynamic real estate market with unique characteristics and trends. A team with in-depth knowledge of the local area, including neighbourhoods, amenities, property values, schools, and Milton real estate news, can offer invaluable insights so you can make well-informed decisions.
Strong Reputation
Milton real estate agents with years of experience facilitating countless real estate transactions in the area will have a strong reputation as they’ve earned the respect and trust of clients.
Transparent Communication
Honesty and transparency are at the heart of every client relationship. Open communication with regular updates, straightforward advice, and detailed market analyses can empower you to make better decisions.
Top-Notch Negotiations
Negotiation is strengthened through experience, so partner with someone who can defend your price by relying on their team of strategic negotiators. An expert negotiator will review every detail, keep you informed about timelines, answer your questions, and help you finalize a winning sale price.
Customized Market Strategies
A good realtor will know how to market your home successfully. Social and email marketing campaigns do more than generate exposure — they get your results. A team leveraging digital marketing, targeted advertising, and professional staging, interior design, and photography to showcase your property can result in more favourable prices and quicker sales.
Questions About the Milton Real Estate Market?
Flowers Team Real Estate is beyond excited about the growth potential of Milton’s real estate market. With the upcoming resident boom, investors have unlimited potential to explore their opportunities.
Whether you’re looking for Milton real estate for sale or want to sell your home, we have the expertise and resources to deliver meaningful results. If you have questions about Milton’s real estate market, we’d love to answer them.
Chatting with an expert team is an excellent start to making a lasting impression.
Flowers Team News
