GTA's most and least expensive waterfront neighbourhoods

Article content

A property near the water can cost up to $300K more than comparable homes situated inland

There’s something undeniably appealing about living near the water. Whether it’s morning walks along the shoreline, panoramic sunset views, or the prestige of a lakeside address, waterfront homes in the Greater Toronto Area (GTA) carry a particular allure.

Recommended Videos

We apologize, but this video has failed to load.

Try refreshing your browser, or
tap here to see other videos from our team.

GTA's most and least expensive waterfront neighbourhoods Back to video

We apologize, but this video has failed to load.

Try refreshing your browser, or
tap here to see other videos from our team.

Play Video

But according to a new report from digital real estate platform Wahi, that dream can come with a hefty price tag.

Wahi’s analysis of GTA waterfront real estate reveals that homes located on or near the waterfront sell, on average, for over $300,000 more than comparable homes situated further inland.

The report looked at 75 GTA neighbourhoods (out of 400) that either border a larger body of water or have waterfront views. Wahi calculated the median sold price differences between waterfront and non-waterfront properties to determine which neighbourhoods had the biggest price differences.

Some GTA neighbourhoods are commanding steeper waterfront premiums than others. For example, in the Halton region community of Roseland, located northeast of Hamilton Harbour on Lake Ontario, the median listing price for a waterfront home was $1,618,750 — $353,750 more than comparable non-waterfront listings.

Interestingly, the report also found that not all waterfront areas are equally expensive — and in some cases, can be less expensive than their non-waterfront counterparts.

In Eastlake, Oakville, waterfront homes were priced similarly to nearby properties without water access, with a price difference of $50,000, while in West Oakville, the median sold price for a non-waterfront property was $250,000 less than a waterfront home.

But the price gap isn’t necessarily just about scenic views or proximity to water; there could be several key factors at play, such as limited supply or increased demand for lifestyle-oriented properties since the pandemic.

Wahi’s analysis also does not take into account the attributes of each home, such as recent renovations, a separate apartment on the property, and more.

For buyers determined to make a waterfront lifestyle a reality without paying a hefty premium, the five least expensive neighbourhoods for waterfront listings could be found in Toronto’s high-rise condo neighbourhoods that have units overlooking the Harbourfront area.

The median sold price in these neighbourhoods ranged from $632,000 to $655,000 and had a price difference as low as $3,000 compared to non-waterfront units.

While waterfront living in the GTA often commands a significant price tag, not all shoreline neighbourhoods are priced equally. From multi-million dollar homes to modestly priced Harbourfront condos, options vary widely.

While water views are desirable, factors like location, housing type, and market demand all influence pricing — offering opportunities for a range of buyers.

Benjy Katchen is the CEO of Wahi, a digital real estate company committed to offering insights, tools and the team that makes buying a home faster and easier.
Visit www.wahi.com.