A look at one of Mississauga’s most popular--and growing--neighbourhoods
It isn't easy to purchase a home in Mississauga—or any GTA city for that matter—but the fast-growing city is one that's coveted by families and young professionals alike, and one neighbourhood in particular appeals to those who want the quintessential suburban lifestyle and the turnkey condo life experience.
What neighbourhood offers chic condos, detached homes and a popular shopping centre?
Central Erin Mills.
While recently-released Toronto Region Real Estate Board (TRREB) data indicates the average home price (all home types combined) sits at $997,218 in the city, the costly real estate isn’t deterring people from buying homes in the city. In fact, real estate website and brokerage Zoocasa says that Mississauga's housing market is experiencing sizzling year-over-year growth, with a total of 687 homes changing hands in February 2020--up 31 per cent from the same month last year.
So, what's attracting people to Central Erin Mills?
"I personally believe that Central Erin Mills is a true premier neighbourhood to live in Mississauga. In terms of location, it can’t be beaten as you are minutes away from the 401 and the 403," says local realtor Nikhil Oberoi, a sales representative with Cloud Realty.
"The QEW is a little bit of a drive but it’s still close enough when you need to use it."
According to GTA West Living, the neighbourhood, which stretches north to Britannia, is bordered by Streetsville and East Credit to the east, Churchill Meadows to the west, Meadowvale to the north, and Erin Mills to the south.
Oberoi, who put together a guide to the Central Erin Mills neighbourhood, says that the area also offers easy access to the nearby Streetsville Go Station, Erin Mills Town Centre (which will soon be home a Cineplex-owned Junxion entertainment facility), Credit Valley Hospital, Erin Meadows Community Centre, and a diverse array of restaurants.
Oberoi says that Central Erin Mills is a great investment overall.
"The average price of Central Erin Mills homes is $885,776," he says in the guide, adding that home prices have gone up 11 per cent since 2016 when the average was $792,223.
"Some homes completed construction as early as 1961, but around 67 per cent of all homes in Central Erin Mills were constructed between 1991 and 2010 and 48 per cent of the community [is made up of] detached homes.”
While detached homes are quite costly—the current average price sits at $1,248,128—residents can find more affordable semi-detached homes for $768,250.
While the area is now home to more condo and apartment buildings, it's still ideal for residents looking for a traditional detached home with a sizeable yard.
"Central Erin Mills offers homes which generous size lots, with everything from simple family homes to luxury premium homes," Oberoi says.
As far as demographics go, Oberoi says there are around 113,000 people living in Central Erin Mills and 60 per cent of that population is made up of couples with children.
The guide says 61 per cent of the population works in business and finance fields, while other residents work in the sales and service industries. The guide says 61 per cent of neighbourhood residents are immigrants, but the dominant language in the neighbourhood is English, followed by Urdu and Mandarin.
The average household income in this neighbourhood is roughly $141,000 per year.
Are you planning to search for a home in Central Erin Mills this year?
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