Known as the suburban part of Toronto, Oakville is a town that is expected to grow into a new urban community. While the area is quite small and has a calm suburban feel to it, the town starts seeing new condominium projects appearing, office and retail space increasing, and public transport network improving.
That’s why more and more people are becoming interested in new condos in Oakville. As the town grows, its real estate market flourishes as well. There are many new projects under construction and more in planning, so you will surely have plenty of options to choose from.
The main reason why anyone should be interested in new condos in Oakville is the massive growth the town is expected to experience within the next 25 years. Oakville belongs to the Halton Region, and there’s a lot going on there.
For instance, the population of the whole region is more than 500,000. It is expected to grow up to a million within the next 20 years. Oakville’s population accounts for more than 190,000 according to the 2016 census. It experiences around 6% yearly growth, which is a higher speed than in Toronto itself (which grows by 4,5% over the same period). For potential investors, that’s really good news. A steady population growth in both the Halton Region and Oakville means that the demand for housing will be high. And if you decide to invest in pre-construction condos in Oakville, you will have more than enough potential tenants or buyers in the future.
Another factor that makes new condominiums in Oakville a good investment option is the favorable location of the town. Neighboring with Toronto’s downtown core, Oakville makes all the metropolis attractions accessible. It would take you a short drive to get to Toronto, so you can even commute to work there daily. Neighboring with the highway 407 and offering countless public transit options to its residents, Oakville combines the convenience of urban lifestyle with the serenity of suburban living.
It’s also worth mentioning that the economy of the area is quite favorable for future investments, including condos under construction. There are plenty of local businesses, big and small. Oakville also houses some of the biggest corporate head offices (including Tim Hortons and the Ford Motor Company), which also contribute to the economy of the area.
Finally, Oakville might win you over thanks to the affordability of this town. Not only is it cheaper to live in than many other parts of the Greater Toronto Area, but also offers rather affordable pricing for the new condominiums. Considering Oakville’s proximity to Toronto’s downtown, the real estate market is quite favorable in terms of prices (at least for now). And that’s one of the main reasons why people choose to invest in Oakville.
If you are interested in brand new condos for sale in Oakville, you may want to check the real estate market trends.
Now, Oakville is developing steadily, but the prices aren’t reaching high (yet). Just to give you a general idea, the average condo price was $612K in 2019. These days, it hasn’t changed a lot ($619K). However, experts predict the housing prices to grow more in the foreseeable future. Which means that now might be a good time to invest (while the prices are more or less affordable).
Let’s not forget that condo prices depend on numerous factors, including the type of the unit you are considering. Here are the current average numbers we are dealing with:
Unit type
Average price
1 bedroom
$480K
2 bedrooms
$710K
3 bedrooms
$560K
During the last month, around 1,000 new listings appeared (and a bit over 400 were sold). On average, a listing spends 21 days on the market. Two-bedroom units tend to be the most popular choice, especially among young couples.
Oakville is considered the 4th fastest growing area in Greater Toronto. It terms of condo prices, the town is the 2nd most expensive (after King). However, these numbers include not only the condo prices but also townhouses and detached homes.
Now, if you are planning to lease your unit out, check the average rent costs in Oakville:
Location: 2430 Old Bronte Rd, Oakville, ON L6M 4J2
Developer: Brixen Developments Inc and Queensgate Homes
Storeys: 8
Number of units: 129
Estimated completion: 2023
About: Celebrating the sophistication of urban living, the Bronte Condos is an 8-storey building that will help its residents enjoy their life in Oakville. The location of this new condominium is superb and would allow for easy connection to pretty much anywhere in Toronto. The suites inside are going to be light-filled, with stylishly organized spaces and quality appliances.
About: Aiming to help create a new cityscape for Oakville, the Dunwest Condos project has a lot to boast of. Winning location, luxurious suites, and multiple amenities are already attracting new investors, even though the estimated completion date falls on 2022. This new condominium is a great option for those who want to live in a fast-growing area that has a lot to offer.
Location: Trafalgar Rd & Dundas St E, Oakville, ON
Developer: Minto
Storeys: 20
Estimated completion: 2021
About: This is the second stage of the project (with the first one involving townhomes that have already been sold out). The new condominium is going to feature suites of various sizes and layouts, including variations with and without a den. There will also be plenty of on-site amenities for your improved comfort, including a fitness center and a spacious rooftop terrace.
About: Working on two condominiums at once (Upper West Side and Upper West Side 2), the developer aims to deliver a new level of luxury to the residents. Both towers will feature spacious suites with an open-concept design, large windows, and top-notch appliances. Each unit will include a spacious balcony (or a patio, or a private terrace).
About: Want to live in a stylish mid-rise building that could accommodate pretty much any lifestyle? Then you might want to consider the Distrikt Trailside 2. This new condominium by Distrikt Developments is going to feature contemporary glass details, large outdoor terraces, and airy suites. Thanks to its close proximity to beautiful parks and the waterfront, the Distrikt Trailside 2 can be an ideal place for many people to call home.
Location: 2444 Old Bronte Rd, Oakville, ON L6M 4J2
Developer: Zancor Homes
Storeys: 8
Estimated completion: 2022
About: Located amongst the town amenities and lots of natural spaces nearby, the Branch Condos is another mid-rise building that is going to change Oakville’s landscape. With its stylish glass details and minimalistic color palettes, the Branch Condos will meet the highest living standards to satisfy its residents. There will be a variety of suite layouts available for potential residents with different preferences and desires.
About: Even though the building is still under construction, the NUVO Condos is a very promising project. Featuring both residential and commercial areas, it will be surrounded by green spaces and pedestrian pathways. The suites will be offered in variations of layouts and designs, all using high-quality finishes and appliances, creating a favorable atmosphere for a comfortable urban living.
Located along Lake Ontario, Oakville is considered a southern suburb of Toronto. The town certainly has its charm and plenty of things to offer to both residents and visitors.
First things first, Oakville’s location is simply superb. It would take you less than 30 minutes to get to Toronto’s downtown core, where you get to enjoy a variety of amenities and entertainment options. Additionally, standing on the shore of Lake Ontario, Oakville can boast of beautiful nature (and views, especially if you plan to live in a new high-rise condominium).
The town is famous for its lush parks and green spaces. It offers easy access to the Coronation and Lion’s Valley parks, plus the famous Bronte Creek Provincial Park (and more). There are plenty of recreational areas near the lakeshore as well, so, when it comes to spending time in nature, there are many options for Oakville residents and visitors. Additionally, Oakville is only a 1-hour drive away from the Niagara Falls.
Another cool thing about the town is how family-friendly it is. The area is safe and can boast of quality schools. Plus, there are many attractions suited for both kids and adults.
If you are a fan of sports, Oakville can offer you its multiple golf courses. There is also a soccer club, so you might want to watch a game or two.
The area is also quite business-friendly. There are multiple regional and national head offices and business centers of different niches, including technology, pharmaceuticals, automotive, tourism, and more. Oakville’s economy is rather favorable for both expanding and new businesses.
Overall, Oakville is all about quality of living. Its vibrant community can boast of many things, but the most important factor is: Oakville is warm and welcoming, which makes it a great place to call home, to do business in, or at least to visit.
The Bronte Condos – Walking distance to two GO stations. Easy access to highways 403 and 407, plus the QEW.
Dunwest Condos – Proximity to highways 403 and 401. Easy access to the QEW. Walking distance to the Cooksville GO Transit train and bus station and the Erindale GO train station.
Oakvillage Condos – Multiple TTC buses and streetcars available nearby. The Oakville GO Station is within reach. Easy access to highways 407, 403, and the QEW.
Upper West Side Condos – Proximity to highways 403 and 407, plus the Queen Elizabeth Way.
Distrikt Trailside 2 Condos – Easy access to the Oakville GO Station and the Oakville Transit bus stations. Proximity to highway 407 and the QEW.
The Branch Condos – Proximity to the Bronte GO Station (under 10 minutes by car). Multiple bus stops within reach. Easy access to highways 403 and 407.
NUVO Condos – Easy access to the Queen Elizabeth Way and highway 407. Proximity to the Bronte train station.
F.A.Q.
Is Oakville expensive?
An average monthly cost for a single person in Oakville is around $1,300 (without the rent expenses).
Is Oakville safe?
Yes, generally. The crime level is quite low is Oakville, although it’s been gradually increasing (bit by bit) during the past three years.
Is Oakville a good place to live?
Yes. In fact, according to MoneySense Magazine, Oakville is the best place to live in Canada based on its economy, safety, affordability, transit, culture, and other factors.
How much is a condo in Oakville?
The average condo price in Oakville is $583K. Prices may vary depending on the suite type, location, interior design, amenities, etc.
How far is Oakville from Toronto?
Oakville is 33 km away from Toronto. It would take you around 25-30 minutes to get to Toronto’s downtown from Oakville.
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