Durham Region has traditionally been the most affordable housing market in Greater Toronto. That's no secret to anyone.
The discount stems from its proximity to not one but two nuclear generating stations, a boatload of heavy industry and a relative lack of historic charm of the kind that gave the municipalities on the western side of Toronto a little bit of cachet at the height of the march to the suburbs.
But that affordability advantage took a slight hit in 2005 and 2006 as new-home prices increased dramatically almost overnight because land supplies for new residential developments were restricted by provincial conservation measures.
As a result, less-costly townhouses and semi-detached communities started popping up in new greenfield developments that had initially been targeted for detached homes. This signified a realization among builders that affordability had to be maintained to keep buyers interested.
Clarington, which comprises the town of Bowmanville and the much smaller villages of Courtice and Newcastle, is at the eastern edge of Durham Region, about 70 kilometres east of downtown Toronto. While its western neighbours - Ajax, Whitby and Pickering - have struggled to find new land to develop for low-rise homes, Clarington and Oshawa remain the only municipalities in Greater Toronto where new-home buyers can purchase a detached house for under $350,000.
The average price for a new detached home in Clarington stood at $343,324 in the January-to-May, 2008, period, which is up 13.6 per cent from $302,221 for the same period last year, according to Canada Mortgage and Housing Corp. That's significantly lower than the average price for all of Durham, which stood at $396,678 in the first five months of 2008.
Low-rise sales in Clarington, at 282 for the first five months of 2008, have kept pace with the year-earlier period, when they stood at 249, according to data collected by RealNet Canada Inc., which includes detached houses as well as semi-detached and freehold townhouses. Every other municipality in Durham Region, however, has seen a low-rise sales decline of 20 to 40 per cent.
Over all, Durham Region sales of new low-rise homes slipped 37 per cent in the first five months of 2008 from the same period last year, from 1,854 to 1,155.
One thing Clarington has going for it besides affordability is a wide range of styles and a good selection of lots, seeing that most of the new detached houses on the market are in larger, multiphased subdivisions.
One such community is Napa Valley Estates by Baywood Homes in central Bowmanville along Liberty Street. Prices range from $275,000 to $398,000 for between 1,258 and 3,523 square feet of living space.
There are currently about 30 houses remaining for sale on 40- and 50-foot-wide properties, which are large considering the recent trend to squeeze lot sizes to make the most out of a dwindling greenfield supply.
About one kilometre north on Liberty Street, just south of two adjacent golf courses, Intracorp Developments is building Liberty Crossing, a fairly large subdivision that was launched in 2004.
Prices there range between $279,000 for 1,210 square feet to $381,000 for 3,220 square feet.
The homes, with cottage-inspired designs, are also on large 40- and 50-foot-wide lots. Approximately 75 properties remain.
Also in Bowmanville, on the west side of town, is Tranquillity, an ambitious 133-lot development that was launched in 2006 by City Homes. The detached models available are all on 40-foot-wide lots, and range from $268,400 to $348,000 for between 1,442 and 2,772 square feet. There's a good selection of bungalows available, with 102 properties still for sale.
Finally, on the higher end of the market in Clarington is the Veltri Group's Newtonville Estates, released just last March. These sprawling estate lots on 111-foot-wide properties are in the tiny hamlet of Newtonville, about 10 kilometres east of Bowmanville near Port Hope.
Of the 19 lots still for sale, prices range from $385,000 to $440,000 for between 1,812 and 2,791 square feet, with several bungalow models available.
