Businesses based in Ontario benefit from some of the lowest overall business costs in the G7. Within Ontario, Durham Region offers a cost-competitive landscape for businesses compared to other Greater Toronto and Hamilton area (GTHA) communities.
From a cost perspective, Durham Region offers potential investors a strong cost advantage based on:
Human resource costs:
- A world-class talent pool, often available for salaries that are lower than other major North American business centres.
- The opportunity to hire local talent, preventing long commutes and improving the quality of life for your staff.
Land, facility, and development costs:
- Durham Region offers industrial development charges that are below the average of other regions in the GTHA.
- Lower than average price for serviced employment lands compared to other GTHA regions.
- Office, industrial, warehouse and retail spaces are available and supported by stable and competitively priced utilities.
Cost of living:
- Durham Region offers, on average, housing that is 18% lower in price than the rest of the GTHA.
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Average Industrial Real Estate Costs in Greater Toronto Area Source: Cushman Wakefield, Industrial Q2 2022 Market Beat Report; $CAD; |
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|
Market |
Overall WTD Average Asking Sale Price |
Overall Weighted Average Taxes, Maintenance, Insurance |
|
GTA Central |
$452.29 |
$4.52 |
|
GTA West |
$417.05 |
$4.43 |
|
GTA North |
$575.01 |
$4.60 |
|
GTA East |
$310.10 |
$5.02 |
|
Average Residential Real Estate Prices in the Toronto Region Source: Toronto Real Estate Board MLS Home Price Index February 2022 |
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|
Region |
Single Family Detached |
Single Family Attached |
Townhouse |
Apartment |
Composite |
Year Over Year % Change |
|
Halton Region |
$1,804,900 |
$1,339,200 |
$953,500 |
$778,500 |
$1,510,500 |
35.88% |
|
Peel Region |
$1,614,200 |
$1,215,600 |
$892,300 |
$716,000 |
$1,279,000 |
40.72% |
|
City of Toronto |
$1,855,700 |
$1,437,500 |
$935,300 |
$776,700 |
$1,308,300 |
27.38% |
|
York Region |
$1,746,700 |
$1,315,300 |
$1,039,200 |
$809,600 |
$1,500,800 |
39.84% |
|
Durham |
$1,236,700 |
$1,023,500 |
$790,900 |
$760,000 |
$1,137,800 |
47.35% |
