Mississauga real estate transactions have slowed slightly due to the impact of COVID-19, following a dramatic 56-per-cent spike in activity experienced between January and February 2020. Residential housing prices have remained stable, which RE/MAX attributes to high demand fuelled by the current housing inventory shortage and further fanned by the Bank of Canada’s latest interest rate decrease. Housing inventory challenges are expected to continue through the 2020 spring market.
Low inventory and housing affordability are expected to remain a concern for Mississauga homebuyers, many of them described as either suburban families or those who have been priced out of other areas and are searching for an affordable compromise.
So, what are the best neighbourhoods in Mississauga to buy a house? RE/MAX explores more than 300 of Canada’s most liveable hot spots in the new 2020 Liveability Report. Here are our top picks for Mississauga.
10 Most Liveable Neighbourhoods in Mississauga
Amenity-Rich Neighbourhoods in Mississauga
Other popular neighbourhoods in the Mississauga region are Churchill Meadows, Applewood and Central Erin Mills, given their proximity to big box stores, access to green space, proximity to public transit, proximity to health or medical services, and access to bike lanes and walking paths. Homes found in these neighbourhoods are prominently semi-detached or detached.
Mississauga’s Future Liveability
Liveability in Mississauga is high, and this is expected to stay consistent over the next three to five years. The infrastructure to sustain and enhance liveability has been in place for a long time – we expect this to continue to be maintained and give residents a well-rounded place to call “home.”
Liveability is about quality of life at a local level. A neighbourhood’s dynamism, or lack thereof, involves a delicate convergence between independent small businesses, public institutions, arts and culture, green spaces and housing, to name a few. The COVID-19 tragedy will impact neighbourhood ecosystems differently across the country, just as the virus itself has. Yet, civic/local pride has been proliferating throughout this crisis in inspiring ways, giving Canadians hope that micro-economies, including real estate, have the resilience to be restored in the near and mid-term.
We know that Canadian’s truly celebrate the liveability factors of their neighbourhood – the qualities that give homeowners the true satisfaction of their home within the context of a neighbourhood. In fact a Leger survey conducted by RE/MAX revealed that 89% of Canadians recommend their neighbourhoods to others. Unlike your home, neighbourhoods cannot be changed, so it is important to assess what qualities are important to you before you purchase. Luckily, when it comes to Mississauga, there is a lot of celebrate in terms of liveability.
A survey of RE/MAX Brokers revealed that the best places to live in Mississauga are Port Credit, Streetsville and Cooksville, ranking as the top three neighbourhoods in Mississauga for access to green spaces and parks, walkability, retail and restaurants and the ease of getting around/public transit.
In the same Leger survey, six-in-10 Canadians put easy access to shopping, dining and green spaces at the top of their liveability criteria. Proximity to public transit (36 per cent), work (30 per cent) and to preferred schools (18 per cent), as well as cultural and community centres (18 per cent) fall out of the top five neighbourhood wants and expectations. So how does Mississauga stack up?
If you are searching for the best place to live in Mississauga, Lakeview ranks as the top hidden gem neighbourhood, while City Centre, Erin Mills and Cooksville rank as the top three neighbourhoods for affordability and good supply of housing inventory.
Lydia McNutt is an award-winning editor, with more than two decades of experience specializing in Canadian real estate. At RE/MAX, Lydia is responsible for developing consumer-facing content while promoting the RE/MAX brand through housing market reports and market news, as featured on the RE/MAX Canada blog and social media channels. Lydia has been published nationally on topics ranging from real estate, architecture, decor and design, to finance, business, technology, entertainment and lifestyle. When she’s not head-down at her writing desk, Lydia is busy “momming” in Oakville, Ontario, where she lives with her husband, two kids and their chocolate lab, Betty. Email Lydia at email@example.com