An article in today's Toronto Star regarding the recent arrival of MPAC property assesments states "Moving west, residents in Mississauga's now-trendy Port Credit neighbourhood, Oakville's exclusive lakefront communities and Burlington's city centre, with its revitalized waterfront, are all seeing big increases in value."
According to the report, Mississauga's Wards 1 and 2 were tied with the City of Toronto's High Park area for fourth place in terms of property value increase with a 2008 over 2005 increase of 7.07%.
Condo sales increase in 30 per cent of GTA districts, while 87 per cent post gains in average price over 2007
Leading the charge was Mississauga’s Lorne Park (W13) with a 13.63 percentage increase, bringing average price in the area to $679,914.
Mississauga, ON (September 3, 2008) – Showing remarkable resilience in a complex real estate environment, sales of condominium apartments, town homes, and lofts moved ahead of 2007 levels in 30 per cent of districts examined in the GTA this year, according to RE/MAX Ontario-Atlantic Canada.
W13 is bounded by the Credit River to the east, Lake Ontario to the south, Winston Churchill Dr. to the west and Dundas St. to the north. The area also includes the portion of Port Credit west of the Credit as well as Clarkson.
If a developer is hoping to parachute in unreasonable heights or densities into an established community, this decision will send a strong message that it is not going to happen. Councillor Carmen Corbasson
The Toronto Star is reporting"An Ontario Municipal Board decision that rejects a controversial plan for a 21-storey condo tower in south Mississauga near Lake Ontario sets a new standard for how and where redevelopment and highrise intensification should occur, a councillor says."