Markham, Canada’s 16th largest city, is located within the Greater Area of Toronto of Southern Ontario, approximately one-hour north of Toronto city. With
a population of around 300,000, Markham is the largest municipality in the York Region and covers an area of around 82 sq. miles.
Markham is bounded by five municipalities and is often recognised as a suburb of Toronto.
In terms of population, Markham is seeing the growth that is approximately three times faster than the rest of Canada. The primary language is English, however, over 20% of the population speak Cantonese and Mandarin. East Asians make up roughly 40% of Markham’s population, followed by White (28%), and South Asian (19%).
The city’s landscape is made up of rolling hills and is intersected by two rivers: The Rouge River and the Don River. Markham has a humid continental climate, very similar to Toronto, and sees hot, humid summers and cold winters. Temperatures in the summer hit the high -20s, while lows in winter dip to around -9 °C.
Markham brands itself as Canada’s “High-Tech Capital” as it is home to a number of large business headquarters, including Broadcom Canada, IBM Canada, and ATI Technologies. Markham is also a leader in renewable energy and has a Green print objective to reach net zero energy, water waste, and emissions by 2050.
It has the largest solar energy system in the York Region and is responsible for a number of energy conservation programs.
Nickname(s): "The High-Tech Capital"
City: 212.58 km2
Markham has retained its towns history and heritage and has various points of interest such as Markham Museum, Markham Heritage Estates, and the heritage railway stations. Markham also hosts many annual events, such as the Taste of Asia Festival, Markham Jazz Festival, and Markham Festival of Lights.
Markham has a number of unique and characterful neighbourhoods, and there are 5 major communities in the area: Berczy Village, Cornell, Markham Village, Milliken, and Unionville.
Known for its eclectic mix of townhouses, semi-detached and detached homes, Berczy Village is a residential area that forms part of Unionville. It boasts a large number of green spaces due to its focus on environmental protection and conservation, which reflects Markham’s stance on eco-friendly living as a whole. Housing prices are affordable and the area has a great sense of community.
Cornell is a popular area of Markham and is made up primarily of townhouses, semi-detached homes, and detached homes. The suburban community is based on a number of central amenities and has great schools, retail stores, an art community centre, and Markham-Stouffville Hospital. Cornell is a family-friendly neighbourhood with a friendly vibe and a strong sense of community.
Markham Village is a mature neighbourhood and is one of Markham’s first areas. With older and larger homes and a selection of bungalows and detached homes, Markham Village is popular among the older, long-time residents.
Milliken is considered to be located in both Toronto and Markham and is situated south-east of Unionville. It has a large Asian population, with roughly 35% of residents speaking Chinese as their first language, and homes are primarily single-detached properties. Homes were built in the 1980s and are generally more affordable, many with two-stories and garages.
The housing market in Markham is incredibly strong, mainly due to the influx of buyers who are attracted to the large Chinese community in the area. Markham also has a number of
Chinese restaurants, shops, and schools, which makes it a very desirable investment for buyers.
The city is projected to grow rapidly over the next 20 years, and with that, as will the real estate market. The local municipality is forecasting to create additional jobs, more communities, park spaces, and businesses, which will support the city’s plan to evolve and accommodate more growth. New communities are being created which offers buyers more choice of housing, such as low-rise homes, single-detached properties, townhouses, as well as high-rise condos. Markham is undoubtedly becoming a more desirable place to live and invest, particularly due to its emphasis on environmental sustainability.
Statistics suggest a higher demand for low-rise housing over the coming years, particularly from the growing number of baby boom households with children who are now reaching child rearing years. This will likely put pressure on the larger units in condominium apartments and low-rise homes and townhouses.
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The following table, based on data taken from the Canadian Real Estate Association (CREA’s) National MLS® Report for April 2016 (the latest information available), demonstrates how homes in LSTAR’s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centres.
Markham has a number of public and private schools and has a high rate of graduates who go on to attend University. There is a mix of secular Anglophone public schools, Anglophone Catholic schools, secular Francophone schools, and Catholic Francophone schools. Markham doesn’t have a University in the city.